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Carnaby Resources (ASX:CNB) has reported results from its maiden drilling program at its Trekelano project in Queensland, with assays including 41 metres (or total width – TW – of around 35m) at 2.3% copper and 0.5 grams per tonne gold.
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The work – comprising 3,400 metres of drilling – is designed to aid resource growth and facilitate geotechnical and metallurgical sampling at Trekelano; itself part of the larger Greater Duchess copper gold project close to Mt Isa.
Two holes returned three metres (TW~2m) at 1.8% Cu, 0.2 g/t Au (159m) and 41 metres (TW~35m) @ 2.3% Cu, 0.5 g/t Au (169m); and 29 metres (TW~25m) @ 1.2% Cu, 0.5 g/t Au (181m, including 12 metres (TW~10m) @ 2.1% Cu, 0.9g/t Au (198m).
These results show significant high-grade copper-gold mineralisation beneath the historical Inheritance open pit, and the exploration upside of this area, with the high-grade plunge of the Inheritance mineralisation being completely open at depth to the south.
Managing director Rob Watkins said this drilling would help to underpin Carnaby’s plans for development of Greater Duchess. “The Trekelano project is shaping up to be a key pillar of the Greater Duchess project, along with our high-grade discoveries at Mount Hope, Lady Fanny and Nil Desperandum,” he said.
“We believe these four deposits will form the backbone of a successful new mine development in the Mount Isa region,” Carnaby’s boss continued.
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Mr Watkins added: “Trekelano has enormous scope to add material open pittable inventory and is being incorporated into the pre-feasibility study.” That study, mind you, is already in “full-swing” too; results should come soon.
CNB has been trading at 30 cents early on Tuesday.
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