Ann: Significant Intrusion Hosted Gold Discovery 5m @ 8.55gt Gold, page-2

SIGNIFICANT INTRUSION HOSTED
GOLD DISCOVERY
5m @ 8.55 g/t GOLD

1


ASX Announcement
8 September 2021


Fast Facts
Shares on Issue 117.9M
Market Cap (@ 34.5 cents) $40.7M
Cash $7.0M 1
1 As of 30 June 2021

Board and Management
Peter Bowler, Non-Exec Chairman
Rob Watkins, Managing Director
Greg Barrett, Non-Exec Director &
Company Secretary
Paul Payne, Non-Exec Director

Company Highlights
▪ Proven and highly credentialed
management team
▪ Tight capital structure and strong cash
position
▪ Projects near to De Grey’s Hemi gold
discovery on 442 km 2 of highly
prospective tenure
▪ Greater Duchess Copper Gold Project,
numerous camp scale IOCG deposits
over 323 km 2 of tenure
▪ 100% ownership of the Tick Hill Gold
Project (granted ML’s) in Qld,
historically one of Australia highest
grade and most profitable gold mines
▪ Past production of 511 koz at 22 g/t
gold
▪ Indicated and Inferred Mineral
Resource of 845,000 t @ 2.47 g/t gold
for 67,100 ounces 2
▪ Proven and Probable Ore Reserves of
459,900 t @ 1.89 g/t gold for 28,000
ounces 2
2 Refer ASX release 5 June 2020, to be adjusted
following Tailings Sale & NSR Royalty Agreement,
refer ASX release 3 August 2020





Registered Office
78 Churchill Avenue Subiaco Western
Australia 6008
T: +61 8 9320 2320
www.carnabyresources.com.au
Carnaby Resources Limited (ASX: CNB) (Carnaby or the Company) is pleased
to provide an exploration update for the 100% owned Strelley Gold Project in
the Mallina Basin, Pilbara, WA.
Highlights – Strelley Gold Project, Pilbara, Western Australia
• Composite drill results from the first RC hole at the Bastion Prospect are
the most significant results over the entire Strelley Gold Project to date;
o PLRC0043 5m @ 8.55 g/t gold from 95m
and 5m @ 0.50 g/t gold from 130m to BOH
• The Bastion Prospect is wide open and undrilled for over 1km north-
east of drill hole PLRC0043 and wide open to the South West where
results from a further 9 RC holes drilled 320m to 1km from PLRC0043 are
awaited – all pending holes intersected the intrusion.
• Carnaby has planned immediate additional RC drilling and has locked
in a RC drill rig to commence a major drill out in October.
• Results from an extensive soil sampling program over the Bastion and
Big Hill areas are eagerly awaited to see if any detectable surface
expression of the underlying gold mineralisation is present.
• At the Stockade and Alcazar Prospects results from a further 9 RC
holes drilled are awaited, both areas intersecting intrusions.
The Company’s Managing Director, Rob Watkins commented:
“The discovery of high grade “Hemi style” intrusion hosted gold mineralisation
is a major breakthrough. This is the most significant drill intercept to date
over the entire Strelley Project and in particular the Bastion Prospect which is
untested over 2 km of potential strike below thin sand cover. The implications
of this discovery for the wider region are equally exciting, especially the
additional key projects pegged and acquired over the last 12 months which
cover 442 km 2 of mostly unexplored terrain. We look forward with great
anticipation to receiving more results and commencing a major drill out at
Bastion.”