Ann: Nil Desperandum Continues To Grow, page-5

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www.carnabyresources.com.au
Carnaby Resources Limited (ASX: CNB) (Carnaby or the Company) is pleased
to report further exploration success at its major copper gold discovery at the
Nil Desperandum Prospect within the Greater Duchess Copper Gold Project in
Mt Isa, Queensland.
Highlights
• RC drill hole NLRC069 has intersected a 70m down hole zone of
copper sulphide mineralisation from 195m, containing from 1 to
18% chalcopyrite based on visual estimates with results pending
(refer Table 1 & 2 in Appendix 1 of this report).
• RC drill hole NLRC067 has intersected a 63m down hole zone of
copper sulphide mineralisation from 169m, containing from 1 to
18% chalcopyrite based on visual estimates with results pending
(refer Table 1 & 2 in Appendix 1 of this report).
• Results from the remaining three Induced Polarisation (IP) lines at
Nil Desperandum have extended the chargeability anomaly
southwest of NLDD044 to over 400m long (see Figure 1). The source
of a very strong resistivity anomaly on the last three IP lines south
of NLDD044 remains unknown.
• Extensive drilling and IP surveys are ongoing and are now focussing on
the Lady Fanny target. Short Covid related delays to heritage surveys are
being experienced and the surveys are required before drilling of the new
IP anomalies at Nil Desperandum can take place southwest of NLDD044.
The Company’s Managing Director, Rob Watkins commented:
“The Nil Desperandum discovery continues to grow. The continuity of the wide
zones of copper mineralisation is excellent and the copper grades are clearly
increasing at depth to the southernmost hole drilled which intersected 41m @
4.1% copper in NLDD044. While we must wait to complete heritage surveys
before we can target the IP anomalies over 400m strike southwest of NLDD044,
we have no shortage of quality drill targets to pursue at the Lady Fanny
Prospect, where six lines of IP are in progress targeting below shallow drill
results of up to 27m @ 2.8% copper, 0.8 g/t gold in LFRC009. We eagerly await
results from drilling at Nil Desperandum and IP geophysics from Lady Fanny