CNB 4.17% 46.0¢ carnaby resources limited

Ann: Stunning First Drill Results Lady Fanny - 27m @ 2.8% Copper, page-149

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    We may or may not get a further upside surprise when the assays from the Burke and Wills copper shoot arrive but given management have not prior commented on visuals (unlike for Lady Fanny and ND) it may not move the needle much on the share price. There is also some Nil Desp assays awaited but I doubt these hit a sweet spot as again no mention of visuals has been made. Aside from the Strelley Gold assays which may be ho-hum when compared to the impact of the copper hits at ND and LF so far, the main result I am waiting for and which will move the market is the IP survey work being done or about to be done. We now have good correlation between IP chargeability and mineralization. Some pretty images of extensive areas of IP chargeability will be enough to propel the share price. Obviously the ground immediately around and on-strike from hole 44 will take priority for IP surveys. Drilling and IP surveying will likely continue in tandem. But doubtless when the rig is on-site another hole will be prioritized into the largish IP chargeable zone that ND44 appears to have hit the edge of. Possibly any CR will be held off until preliminary IP work is completed and analyzed
 
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