Carnaby Resources Claim New High-Grade Copper Discovery

THE DRILL SERGEANT: Carnaby Resources (ASX: CNB) announced new exploration results from the company’s Greater Duchess copper gold project in Mt Isa, Queensland.

Carnaby Resources declared a new high-grade discovery at Duchess based on a single RC drill hole targeting an off hole conductor from a previous downhole EM survey in the area.

The company said the new hole intersected a “high-grade discovery” on the Duchess Central Lode immediately west of the Duchess Mine Lode, which averaged 12.5 per cent copper at the turn of the century and was one of the main copper mines in the entire Mount Isa district from circa 1900-1930.

Results included:

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10 metres at 3.3 per cent copper and 0.1 grams per tonne gold, including 4m at 7 per cent copper and 0.05g/t gold.

“At Duchess, while it is early days, the new high-grade discovery is encouraging as it lies immediately west of the extremely high-grade Duchess Mine Lode,” Carnaby Resources managing director Rob Watkins said in the company’s ASX announcement.

Carnaby Resources also completed a detailed drone magnetic survey over the project’s Mount Hope Mining Lease where no detailed magnetic surveys have previously been recorded.

The drone survey highlighted several new untested magnetic high targets which are being evaluated prior to drill testing.

The company considers the magnetic highs to likely be a direct result of magnetite or pyrrhotite alteration and mineralisation.

“Mount Hope Central continues to impress with exceptional new drill results from outside of the existing Mineral Resource and new targets generated from a recent drone survey,” Watkins said

“Plans are afoot for a major drilling program to commence soon.”

TO READ THE FULL ANNOUNCEMENT: CLICK HERE