Carnaby Resources Limited (ASX:CNB) announces preliminary VTEM survey results

Carnaby Resources Limited (ASX:CNB) has announced the preliminary results from a recently completed VTEM survey at the Greater Duchess Copper Gold Project in Queensland. The survey covered the Mount Hope and Nil Desperandum regions, revealing multiple strong late channel bedrock conductors at numerous new undrilled locations. The survey, conducted by UTS Geophysics and supervised by Southern Geoscience, covered a total of 194 line km of helicopter VTEM surveying at 200m line spacing. The detailed processing of the VTEM data is underway and is estimated to take approximately one month to receive the final data and images.

Managing Director's perspective on the VTEM survey results

Carnaby's Managing Director, Rob Watkins, expressed excitement about the game-changing results of the VTEM survey at Greater Duchess. He highlighted the numerous new undrilled strong late time conductors identified as exceptional walk-up drill targets, providing an immediate focus for ongoing exploration drilling aimed at increasing the open pit mineral resources at the Greater Duchess Project. Watkins also emphasized the significance of the >4km Mohawk corridor, which has emerged as an exceptional target zone with only a handful of holes drilled to date. He expressed anticipation for the processed VTEM data to reveal the scale and significance of the identified conductors.

Implications of the VTEM survey and future exploration outlook

The preliminary VTEM survey results at the Greater Duchess Copper Gold Project have unveiled multiple strong late channel bedrock conductors at new undrilled locations, indicating significant potential for mineralization. The emerging >4km Mohawk NS corridor, in particular, presents an exceptional target zone with numerous new strong undrilled conductors identified north of the discovery drill hole. The company's focus on ongoing exploration drilling to increase open pit mineral resources reflects its commitment to leveraging the survey findings. With a proven and highly credentialed management team, tight capital structure, and strong cash position, Carnaby Resources is well-positioned to capitalize on the opportunities presented by the VTEM survey results. The upcoming drilling program is expected to provide further insights into the scale and significance of the conductors, driving the company's exploration and development efforts in the coming quarter.