Carnaby Resources (ASX:CNB) discovers copper at Nil Desperandum prospect at Mt Isa, QLD

• Carnaby Resources (CNB) discovers copper at its Nil Desperandum prospect within the Greater Duchess copper gold project in Mt Isa, Queensland
• A reverse circulation diamond hole intersected a 34-metre downhole period of ‘significant’ copper sulphide mineralisation, including a 24-metre zone of semi massive copper sulphide
• CNB says it’s the first drill hole to test the Induced Polarisation chargeability inversion anomaly, with the anomaly ‘almost certainly’ attributable to copper sulphide mineralisation
• The high-grade copper intersection remains completely open at depth and along strike to the southwest, where the plunge of the mineralisation appears to be flattening
• CNB shares have been up 41.4 per cent, trading at 41 cents.

Carnaby Resources (CNB) has discovered copper at its Nil Desperandum prospect within the Greater Duchess copper gold project in Mt Isa, Queensland.

A reverse circulation diamond hole has intersected a 34-metre downhole interval of strong copper sulphide mineralisation, which includes a 24-metre downhole zone of semi-massive copper sulphide.

The diamond hole was designed to target an Induced Polarisation (IP) chargeability inversion anomaly coincident with the predicted plunge of the Nil Desperandum main shoot breccia zone. The company said the IP anomaly is almost certainly attributable to copper sulphide mineralisation.

The high-grade copper intersection remains completely open at depth and along strike to the southwest, where the plunge of the mineralisation appears to be flattening.

Carnaby Resources Managing Director Rob Watkins said the deposit appears to be getting bigger and better at depth.

“Nil Desperandum is rapidly emerging as a major copper gold discovery in one of Australia’s premier copper districts located only 70 kilometres from Mt Isa and surrounded by world class infrastructure.” Mr Watkins said.

“We are now fast-tracking further IP geophysical surveys to help guide a follow-up drilling program.”

The program, set to target the extensions to the southwest, will commence in Q1 2022.

Carnaby Resources shares were up 41.4 per cent, trading at 41 cents at 8 am AEDT.