CNB – Carnaby Resources
Hit a high of $1.39
Another De Grey nearology play producing results.
Other De Grey nearology plays are CAD and KAI if interested…
CAD right next door Have to laugh at some of the prospects names you hear… in this case “Lady Fanny”, sounds like a James Bond character (Pussy Galore)
MAJOR COPPER GOLD DISCOVERY
41m @ 4.1% COPPER,
INCLUDING 9m @ 10.3% COPPER
AT GREATER DUCHESS PROJECT
29 December 2021
Shares on Issue 118.1M
Market Cap (@ 73.5 cents) $86.8M
1As of 31 September 2021
Board and Management
Peter Bowler, Non-Exec Chairman Rob Watkins, Managing Director
Greg Barrett, Non-Exec Director &
Paul Payne, Non-Exec Director
Proven and highly credentialed management team
Tight capital structure and strong cash position
Projects near to De Grey’s Hemi gold discovery on 442 km2 of highly
Greater Duchess Copper Gold Project, numerous camp scale IOCG deposits over 323 km2 of tenure
100% ownership of the Tick Hill Gold Project (granted ML’s) in Qld, historically one of Australia highest grade and most profitable gold mines
Past production of 511 koz at 22 g/t gold
Indicated and Inferred Mineral
Resource of 207,000 t @ 6.71 g/t gold
for 44,600 ounces
Proven and Probable Ore Reserves of 48,600 t @ 6.53 g/t gold for 10,200 ounces
78 Churchill Avenue Subiaco Western
T: +61 8 9320 2320
Carnaby Resources Limited (ASX: CNB) (Carnaby or the Company) is pleased to confirm a major copper gold discovery at the Nil Desperandum Prospect
within the Greater Duchess Copper Gold Project in Mt Isa, Queensland.
• Assay results have been received for NLDD044 outlining an extremely high-grade copper gold discovery at Nil Desperandum. Results are;
41m @ 4.1% copper, 0.5 g/t gold from 247m
Incl. 24m @ 6.5% copper, 0.7g/t gold from 251m
Incl. 9m @ 10.3% copper, 1.2g/t gold from 264m
• NLDD044 is the first drill hole to test the NLIP4 Induced Polarisation (IP) chargeability inversion anomaly (Figure 1 & 2). The IP anomaly is almost certainly attributable to copper sulphide mineralisation.
• The high-grade copper intersection in NLDD044 remains completely open at depth and along strike to the southwest where the plunge of the mineralisation appears to be flattening (Figure 2).
• Results are pending from a further RC/diamond hole drilled 80m to the northeast of NLDD044, which intersected an 80m downhole zone of copper sulphide mineralisation (See ASX release 21 December 2021).
• Results from numerous other holes drilled at Nil Desperandum, Lady Fanny and Burke & Wills prospects are also awaited.
• Follow up exploration is being rapidly escalated with extensive IP surveys and multiple drill rigs locked in to commence in January 2022.