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- Carnaby Resources (CNB) receives pleasing results from phase two drilling at the Nil Desperandum prospect in Queensland
- The drill results continue demonstrating the “robust” continuity of the main zone and at depth to the southwest
- CNB has also announced a strong extension of a surface soil anomaly to the northeast which remains open and is coincident with a chargeability anomaly
- CNB plans to undertake further drilling to extend the main zone and target the northeast extension
- Company shares are down 3.95 per cent to trade at 36.5 cents at 12:18 pm AEST
Carnaby Resources (CNB) has received positive results from phase two drilling at the Nil Desperandum prospect.
This prospect is part of the Greater Duchess Copper-Gold Project in Mount Isa, Queensland.
The latest results have confirmed the up-dip projection of the main plunging shoot with near surface results up to 15 metres at one per cent copper from 10 metres.
The down plunge extent of the southwest plunging lode remains open at depth with results including 48.2 metres at 0.6 per cent copper from 281 metres including 11.1 metres at 1.4 per cent copper from 294 metres.
Additional results from the peripheral edges of the main high-grade plunging shoot and results such as eight metres at one per cent copper show the “robust” continuity and geometry of the southwest plunging lode.
Managing Director Rob Watkins commented on the results.
“The new drill results continue to demonstrate the robust continuity of the main zone all the way to surface and at depth to the southwest where the deepest drill hole to date has intersected 48.2 metres at 0.6 per cent copper,” he said.
In addition, the company completed soil sampling northeast of the prospect after identifying a northeast strike orientation of the main mineralised trend.
The new sampling results show a strong extension of the Nil Desperandum surface soil anomaly to the northeast, which remains open and is coincident with an induced polarisation chargeability anomaly.
Carnaby plans to undertake further drilling to keep extending the main zone and target the northeast extension.
Company shares were down 3.95 per cent to trade at 36.5 cents at 12:18 pm AEST.
