- Carnaby Resources (CNB) intersects broad zones of copper-gold mineralisation at the Greater Duchess Project in Queensland
- Drill results from the Nil Desperandum prospect includes 1.7 per cent copper over 23 metres within a broader zone of 60 metres at one per cent copper
- The assays confirm the continuity of a thick, high-grade shoot from near surface to over 300 metres down plunge
- Carnaby is waiting on results from a further 12 holes drilled at the prospect which are expected in the next few weeks
- Company shares were up 11.7 per cent to trade at 33.5 cents
Carnaby Resources (CNB) has intersected broad zones of copper-gold mineralisation at the Greater Duchess Project in Queensland.
The company received assays from another five holes drilled at the Nil Desperandum prospect.
Three of the five holes returned significant results with best ones including 60 metres at one per cent copper from 139 metres including 23 metres at 1.7 per cent copper and 0.4 grams of gold per tonne (g/t) from 152 metres, and one metre at 6 per cent copper and 0.7g/t gold from 163 metres.
The results confirmed the continuity of a thick, high-grade shoot from near surface to over 300 metres down plunge to the deepest intersection which is open at depth.
Mineralisation dips moderately to the southeast and is consistent across all drill sections and forms a hanging wall and footwall zone within a southwest-plunging mineralised envelope.
Managing Director, Rob Watkins, was pleased with the new results.
“We are delighted to report these new results which confirms that Nil Desperandum is rapidly emerging as a very significant copper gold deposit of scale in the Mt Isa district.”
Carnaby is waiting on results from a further 12 holes drilled at the prospect which are expected in the next few weeks.
Company shares were up 11.7 per cent to trade at 33.5 cents at 10:18 am AEST.