- Carnaby Resources (ASX:CNB) hits a fresh vein of high-grade copper at its Greater Duchess project in Mt Isa, Queensland
- Exploration at the company’s Duchess Central Lode prospect returned a four-metre segment at seven per cent copper and 0.05 g/t gold
- CNB MD Rob Watkins expressed excitement about the proximity of the new high-grade intercept to the historically high-grade Duchess Mine Lode
- Plans are afoot for a major drilling program to commence soon
- Shares are up 3.91 per cent, trading at 66.5 cents at 11:14 am AEDT
Carnaby Resources (ASX:CNB) has struck a fresh vein of high-grade copper at its Greater Duchess project in Mt Isa, Queensland.
The company’s Duchess Central Lode prospect yielded particularly impressive results, intersecting 10 metres at 3.3 per cent copper and 0.1 grams per tonne (g/t) gold, including a four-metre segment at seven per cent copper and 0.05 g/t gold. The mineralisation also remains open at depth.
Carnaby’s Mount Hope Central prospect returned 1.6 per cent copper and 0.5g/t gold, including a significant 42 metres averaging 2.3 per cent copper and 0.07 g/t gold across a true width of 17 meters.
This mineralisation sits outside the project’s current mineral resource and extends both downhole and laterally, remaining open to further exploration around the 87-metre mark.
CNB Managing Director Rob Watkins emphasised the early stage of the project but expressed excitement about the proximity of the new high-grade intercept to the historically high-grade Duchess Mine Lode, boasting an average of 12.5 per cent copper.
“Mount Hope Central continues to impress with exceptional new drill results from outside of the existing Mineral Resource and new targets generated from a recent drone survey,” he said.
“Plans are afoot for a major drilling program to commence soon.”
CNB shares were up 3.91 per cent, trading at 66.5 cents at 11:14 am AEDT.