Carnaby Resources (ASX: $CNB) high-grade copper-gold discovery update

Carnaby Resources Limited (ASX: $CNB) has announced exceptional new exploration results at the Greater Duchess Copper Gold Project in Mt Isa, Queensland. The company reported a high-grade discovery at Duchess Central Lode, with significant exploration upside within the broader project. The recent intersection of 4m @ 7.0% Cu remains open at depth and along strike, prompting plans for follow-up drilling to test the continuity of mineralisation.

Executive commentary on the high-grade discovery

DCX Managing Director, Toby Wellman, expressed the company's encouragement with the new high-grade intersection from the Duchess Central Lode, highlighting the significant exploration potential within the broader project. He emphasized the open nature of the recent intersection at depth and along strike, indicating the need for follow-up drilling to further assess the continuity of mineralisation. Wellman also expressed the company's anticipation of Carnaby's continued progression of the joint venture and the potential for further mineral discovery.

Summary of Carnaby Resources' high-grade copper-gold discovery

Carnaby Resources Limited (ASX: $CNB) has reported an exciting high-grade copper-gold discovery at the Greater Duchess Copper Gold Project in Mt Isa, Queensland. The company's Managing Director, Rob Watkins, highlighted the significance of the new discovery at Duchess Central Lode, emphasizing its proximity to the historically high-grade Duchess Mine Lode. The company plans to commence a major drilling program soon to further explore the potential of the discovery. Additionally, Carnaby remains on track to complete the Greater Duchess Scoping study in the current quarter and proceed to prefeasibility studies by the end of 2024. The company also aims to provide a regional exploration update for Greater Duchess once results from a significant soils sampling program completed in Q4 CY 2023 have been received. Overall, Carnaby's outlook includes discussions with potential processing route options, joint metallurgy studies, and a major exploration and resource drilling program planned and budgeted for in 2024.