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- Carnaby Resources (CNB) has begun drilling at its wholly-owned Strelley Project in the Mallina Basin of WA
- The drill program will span 400 holes and around 8500 metres of aircore drilling at several high-priority targets
- These include the Palisade target — where an up to 500-metre wide bottom-of-hole gold anomaly is open in all directions
- Once the aircore drilling wraps up, Carnaby will commence 3500 metres of reverse circulation (RC) drilling at the same site
- The company has also locked in another drilling program for its Tick Hill Gold Deposit in Queensland, beginning in November as well
- Shares in Carnaby Resources have opened today’s trading session 8.24 per cent up, worth 46 cents per share
Gold exploration company Carnaby Resources (CNB) has announced it has commenced drilling at its wholly owned Strelley Project.
Strelley is located in the Mallina Basin of WA’s Pilbara region, with the explorer first identifying gold at the project back in July.
Latest program
Carnaby said the drilling program which just began at Strelley will span 400 holes and around 8500 metres. It’ll also be completed on a nominal 320 by 80 metres spacing basis.
The aircore drilling is focusing on several high-priority targets, including the Palisade target — where a 300-metre to 500-metre wide bottom-of-hole gold anomaly is open in all directions.
Once the aircore drilling has wrapped up and Carnaby begins seeing the results from the program, the company plans to follow up with a second drill rig.
This rig will initiate a 3500-metre reverse circulation (RC) program which will drill deeper and further test the high priority targets.
Carnaby expects this second-stage of RC drilling to start in mid-November.
Other assets
Alongside the Strelley drilling program, Carnaby has announced today that it’s planning to undertake drilling at its Tick Hill North offset target.
The Tick Hill Gold Deposit is part of the company’s wider Mount Isa Inlier Gold and Copper Projects in Queensland.
Carnaby said it has locked in a third RC and Diamond drill rig to commence diamond drilling at Tick Hill.
This will be coupled with an RC program targeting the direct extension of Tick Hill’s main lode into the northern wall of the historical open pit.
The latest drilling at the orebody is expected to commence in mid-November as well.
Speaking on both the Strelley and Tick Hill programs, Carnaby Resources Managing Director Rob Watkins said the company was pleased to begin extending the deposits.
“We look forward with high anticipation to completing the maiden Carnaby drilling programs at Strelleyand homing in on the extension of high grade Tick Hill gold deposit, both of which have the potential to produce company transforming results,” he said.
Shares in Carnaby Resources have opened today’s trading session 8.24 per cent up, worth 46 cents per share at 11:16 am AEDT.
