THE CONFERENCE CALLER: Carnaby Resources (ASX: CNB) attracted a crowd on the final day of the 2022 RIU Explorers Conference after reporting exploration results from the company’s 100 per cent-owned Lady Fanny copper gold discovery, located within its Greater Duchess copper gold project in Mt Isa, Queensland.
Carnaby Resources reported results from the first three lines of IP completed at Lady Fanny that outlined several strong inversion chargeability anomalies across all three lines.
Data from an additional three infill and extension IP lines have been received and inversion modelling of the data is underway and is expected to be reported soon.
The IP lines were completed over 1.4 kilometres long east-west traverses covering the entire Lady Fanny to Burke & Wills lines of workings.
“The Lady Fanny IP results are extremely encouraging and are suggestive of a much larger copper sulphide bearing system at depth and along strike,” Carnaby Resources managing director Rob Watkins said in the company’s ASX announcement.
“The IP at Lady Fanny appears to be working as well as it did at Nil Desperandum which led to the high-grade discovery.
“This bodes well for the follow up drilling at Lady Fanny which is underway.
“The strength of the Lady Fanny inversion chargeability anomalies is stronger than in the high-grade discovery IP section at Nil Desperandum.
“While the strength of the chargeability inversion anomalies cannot be used as a guide for copper grades or widths, the strength of the Lady Fanny IP chargeability anomalies is certainly a positive sign.
“With this in mind, we are genuinely excited about what lies ahead at Lady Fanny and Nil Desperandum and the broader Greater Duchess copper gold project in the weeks and months ahead.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE