- Carnaby Resources (CNB) hits new copper sulphide zones within its Greater Duchess project in Mt Isa, Queensland
- PXRF readings included 71 metres at 1.1 per cent copper from drill holes at the Mount Hope Central prospect and 34 metres at 0.9 per cent copper from Mount Hope North
- The results come from the start of CNB’s 40,000-metre drilling campaign, which MD Rob Watkins expects will culminate in a “very material” maiden MRE for the project
- Soil sampling south of the Nil Desperandum prospect also identified new prospects over a ten-kilometre zone, and further sampling is planned before first-pass drilling
- CNB shares are trading 4.04 per cent higher at $1.16 at 3:50 pm AEDT
Carnaby Resources (CNB) has hit new copper sulphide zones within its Greater Duchess project in Mt Isa, Queensland.
Portable x-ray fluorescence (pXRF) readings of drill core taken from the Mount Hope Central prospect returned 71 metres at 1.1 per cent copper from 204 metres, including 30 metres at 2.2 per cent copper.
At Mount Hope North, readings included 34 metres at 0.9 per cent copper from 380 metres downhole and 14 metres at 1.6 per cent copper from 397 metres.
Carnaby’s Managing Director, Rob Watkins, said the company was looking forward to receiving the assay results from the pXRF readings.
“The exceptional new copper sulphide zones intersected at Mount Hope Central and Mount Hope North clearly indicate that the size of the Mount Hope discovery is going to rapidly expand as Carnaby steps up the drilling program,” Mr Watkins said.
“We look forward to receiving the assay results from the pXRF readings announced today, which based on previous experience have been significantly higher in grade than the pXRF readings due to our conservative approach to reporting pXRF.”
The pXRF results come from the first drilling as part of Carnaby’s wider 40,000-metre reverse circulation and diamond drilling program.
Given the results so far, Mr Watkins said the program would “no doubt culminate in a very material maiden resource” for the Greater Duchess project.
The company also completed soil sampling south of its Nil Desperandum prospect that delineated new prospects over a ten-kilometre zone.
Additional soil sampling and an induced polarisation survey are planned prior to first-pass drilling at the new prospects.
Shares in Carnaby Resources were trading 4.04 per cent higher at $1.16 at 3:50 pm AEDT.