Ann: Stunning First Drill Results Lady Fanny - 27m @ 2.8% Copper, page-4

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STUNNING FIRST DRILL RESULTS
AT LADY FANNY PROSPECT -
27m @ 2.8% COPPER, 0.8 g/t GOLD
1
ASX Announcement
13 January 2022
Fast Facts
Shares on Issue 124.1M
Market Cap (@ $1.25) $155M
Cash $5.6M1
1As of 30 September 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
▪ Greater Duchess Copper Gold Project,
numerous camp scale IOCG deposits
over 1,022 km2 of tenure
▪ Projects near to De Grey’s Hemi gold
discovery on 442 km2 of highly
prospective 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
producing 511 koz at 22 g/t gold
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 announce stunning drill results from the 100% owned Lady Fanny Prospect
within the Greater Duchess Copper Gold Project in Mt Isa, Queensland.
Highlights
• Exceptional assay results have been received from the first 5 holes drilled
at Lady Fanny outlining a broad shallow high grade copper gold deposit.
Significant results;
• LFRC009 – 27m @ 2.8% Cu, 0.8 g/t Au from 61m
o Incl. 9m @ 4.0% Cu, 0.3 g/t Au from 65m
o And Incl. 11m @ 3.3% Cu, 1.6 g/t Au from 77m
• LFRC013 – 20m @ 2.3% Cu, 0.5 g/t Au from 30m
o Incl. 6m @ 5.5% Cu, 1.4 g/t Au from 38m
• LFRC012 – 17m @ 2.1% Cu, 0.9 g/t Au from 74m
o Incl. 7m @ 4.2% Cu, 2.0 g/t Au from 77m
• Remarkably, the drilling at Lady Fanny by Carnaby represents the first
known recorded drilling within the historical Lady Fanny mining lease
area, of which Carnaby owns 100%.
• Outcropping copper gold mineralisation at Lady Fanny has been traced
for over 400m strike length (see ASX release 25 October 2021) and these
first drill results remain open along strike and at depth.
• Lady Fanny is located only 3 km north of the high-grade Nil
Desperandum discovery of 41m @ 4.1% copper, 0.5g/t gold (see ASX
release 29 December 2021), both located within a vastly underexplored
and rapidly emerging >5 km long major Iron Oxide Copper Gold (IOCG)
corridor (Figure 4 & 5).
The Company’s Managing Director, Rob Watkins commented:
“These stunning first pass drill results from Lady Fanny just 3 km north of
the spectacular Nil Desperandum high grade discovery really demonstrate
the untapped potential of the greater than 5km long IOCG corridor that
is rapidly emerging within the Greater Duchess Copper Gold Project.”