CNB 3.97% 60.5¢ carnaby resources limited

Ann: Mount Hope Delivers 138m @ 2.1% Cu, page-27

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    The Gap Prospect is interesting and slightly different to others because we know that there is a granite intrusion here which was mapped many years ago running NNEish and Carnaby have picked it up in recent drilling at Mount Hope North. The relationship of the intrusion to the IP anomaly will be interesting and it could mean a different style and orientation of mineralisation, is there a more disseminated sulphide mineralisation in the contact zone of the intrusion or some more direct intrusion related/hosted mineralisation? Certainly a big target and worth putting quite a few more holes and some geology skill into interpreting what is there. If it comes up it will be a game changer I think.

    The results continue to impress with grades that are well into the underground mining normal sphere. Open pits in the top 150-250m could be a real bonus given the grade.

    I have a sense that the JORC may be delayed until early in the new year once the entire drilling season results are in or an initial JORC earlier with an update then.

    Carnaby have so many other places where real new discovery potential exists that I think one poster saying about the benefits of holding for a longer timeframe may well be right.

    Great results continue to flow. Holding and watching with interest.

    DYOR. Not investment advice
 
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