Carnaby Resources Limited (ASX: CNB) has confirmed a major copper gold discovery at the Nil Desperandum Prospect within the Greater Duchess Copper Gold Project in Mt Isa, Queensland.
Highlights
• 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. 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
• 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
• Results from numerous other holes drilled at Nil Desperandum, Lady Fanny and Burke & Wills prospects are also awaited.
Managing Director, Rob Watkins, said follow up exploration is being rapidly escalated with extensive IP surveys and multiple drill rigs locked in to commence in January 2022.
“Nil Desperandum is shaping up as a major Iron Oxide Copper Gold discovery which is rapidly getting bigger and better at depth,” Mr Watkins said.
“The scale of the mineralised system we are seeing is exceptional. We look forward to 2022 as being an incredible ride for Carnaby shareholders as we escalate the exploration at the Greater Duchess Copper Gold Project to a whole new level.”
Mr Watkins said RC / diamond hole, NLDD044 has intersected an exceptionally broad and high-grade copper gold intersection outlining a major discovery at Nil Desperandum.
He said the results eclipse the visual copper sulphide estimates released last week and that the tenor of the results is amongst the highest copper drill hole grades and widths reported in Australia since the Degrussa copper gold deposit was discovered by Sandfire Resources Ltd in 2009.
For further information please visit: https://carnabyresources.com.au/
