Carnaby Resources Limited (ASX: CNB) has described as “stunning” initial drill results from the 100% owned Lady Fanny Prospect within the Greater Duchess Copper Gold Project in Mt Isa, Queensland.
The company says exceptional assay results have been received from the first five holes drilled at Lady Fanny outlining a broad shallow high grade copper gold deposit.
• LFRC009 – 27m @ 2.8% Cu, 0.8 g/t Au from 61m; incl. 9m @ 4.0% Cu, 0.3 g/t Au from 65m and Incl. 11m @ 3.3% Cu, 1.6 g/t Au from 77m
• LFRC013 – 20m @ 2.3% Cu, 0.5 g/t Au from 30m; Incl. 6m @ 5.5% Cu, 1.4 g/t Au from 38m
• LFRC012 – 17m @ 2.1% Cu, 0.9 g/t Au from 74m o Incl. 7m @ 4.2% Cu, 2.0 g/t Au from 77m
Managing Director, Rob Watkins, said that remarkably, the drilling at Lady Fanny by Carnaby represents the first known recorded drilling within the historical Lady Fanny mining lease area, of which Carnaby owns 100%.
He said outcropping copper gold mineralisation at Lady Fanny has been traced for over 400m strike length and these first drill results remain open along strike and at depth.
Lady Fanny is located only three km north of the high-grade Nil Desperandum’s December 2021 discovery of 41m @ 4.1% copper, 0.5g/t gold. Both are located within a vastly underexplored and rapidly emerging >five km long major Iron Oxide Copper Gold (IOCG) corridor.
“These stunning first pass drill results from Lady Fanny just three km north of the spectacular Nil Desperandum high grade discovery really demonstrate the untapped potential of the greater than 5km long IOCG corridor that is rapidly emerging within the Greater Duchess Copper Gold Project,” Mr Watkins said.
He said the broad intervals of high-grade copper and high-grade gold mineralisation at Lady Fanny is highly encouraging, clearly demonstrating shallow mineable open pit widths and grade.
Lady Fanny remains completely open and undrilled to the north of the high-grade result in LFRC013 and to the south results from a further four holes drilled are awaited as well as results from two additional RC holes drilled at the Burke & Wills prospect
Mr Watkins said the Lady Fanny results and high-grade Nil Desperandum discovery demonstrate how vastly underexplored the >5km long Iron Oxide Copper Gold (IOCG) corridor is and the potential of this corridor to develop into a major new copper gold district.
Carnaby plans to complete a major drill out of the >400m strike of the Lady Fanny lodes and explore for additional strike extensions to the north, where the mineralisation tracks under quartzite scree slope cover, and to the south where the outcropping mineralisation tracks under shallow alluvial cover.
The Lady Fanny and Burke & Wills prospects will also be targeted with ground Induced Polarisation (IP) surveys to aid with drill targeting in search of large chargeability anomalies that may exist beneath the historical workings.
For further information please visit: https://carnabyresources.com.au/