"Breakaway Research rates Carnavale Resources as a "speculative buy", with short-term price movers being positive results from the imminent drilling. "Carnavale is commencing drilling on shear hosted poly-metallic targets at their Red Hills Project, where they are earning up to 75 per cent through an earn-in agreement. The Project is located in Nevada, a well-known and relatively mining friendly jurisdiction. Sampling and mapping by Carnavale over historic workings has confirmed the high grade nature of the mineralisation, and a mid-point exploration target (100 per cent basis) of 12Mt has been estimated over the two targets. Our calculations indicate a zinc equivalent grade of around 22 per cent based on the recent sampling. Red Hills is also prospective for Carlin-style mineralisation – soil sampling at Viper has returned a Carlin-style geochemical signature, and is situated in a similar structural and lithological setting as that for both the Kinsey and multimillion ounce Long Canyon deposits located to the north."

http://www.afr.com/markets/equity-m....0150726-gijpx1