What Are Carnaby Resources Key Discoveries at the Greater Duchess Copper Gold Project?

$CNB What Are Carnaby Resources Key Discoveries at the Greater Duchess Copper Gold Project?

Discoveries and Developments at the Greater Duchess Copper Gold Project

Summary: The Greater Duchess Copper Gold Project, led by Carnaby Resources, has revealed significant discoveries and progress across multiple prospects, including the high-grade Duchess Central Lode, the Chalcus Lode at Mount Hope Central Prospect, and the promising Wimberu Prospect in the Devoncourt Project.

With a strategic focus on expanding mineral resources and advancing towards prefeasibility studies, Carnaby Resources is poised to capitalize on these developments, signaling a vibrant future for copper and gold exploration in the region.

Duchess Central Lode: A New High-Grade Discovery

At the heart of the project lies the Duchess Central Lode, where recent drilling has uncovered substantial high-grade copper and gold mineralization. The standout result from drill hole DCRC006, revealing 4m at 7.0% Cu and 0.05g/t Au within a broader zone of 10m at 3.3% Cu and 0.1g/t Au, marks a significant find immediately west of the historical Duchess ... Mine Lode. This discovery, completely open at depth, signals the potential for expanding the known mineralized footprint and enhancing the project's overall value.

Mount Hope Central Prospect: Expanding the Chalcus Lode

Further drilling at the Mount Hope Central Prospect has intersected impressive copper-gold mineralization, particularly in drill hole MHDD192W2, which encountered a new high-grade section of the Chalcus Lode.

This intersection, comprising 71m at 1.6% Cu and 0.5g/t Au, including a richer core of 42m at 2.3% Cu and 0.7g/t Au, extends the lode beyond the existing mineral resource estimate. With the lode remaining open, ongoing and planned drilling campaigns aim to further delineate and expand this promising mineralization.

Devoncourt Project: IOCG Potential at Wimberu

The maiden drilling program at the Wimberu Prospect within the Devoncourt Project targets magmatic hydrothermal breccia-hosted Iron Oxide Copper Gold (IOCG) mineralization.

Initial results, particularly from WBRC001, which ended in 5m at 0.14% Cu and 0.02g/t Au, highlight the prospect's potential for hosting significant copper and gold deposits. The exploration strategy, focusing on deep angle holes to test for steeply dipping feeder structure breccia mineralization, underscores the project's unexplored potential.

Technological Advances: Drone Magnetic Survey at Mount Hope

A detailed drone magnetic survey completed over the Mount Hope Mining Lease has identified several new untested magnetic high targets. These findings, potentially indicative of magnetite or pyrrhotite alteration associated with copper-gold mineralization, present exciting new drilling targets. The survey's results are integral to refining exploration strategies and directing future drilling efforts toward the most promising areas.

Strategic Outlook and Next Steps

Carnaby Resources is advancing the Greater Duchess Copper Gold Project with a clear strategic vision. The ongoing scoping study, set to transition into prefeasibility studies by the end of 2024, is evaluating potential processing routes and joint metallurgy studies with Glencore. Meanwhile, the anticipation of results from the Lady prospect and a regional exploration update promises further insights into the project's extensive potential.

The company's commitment to a major exploration and resource drilling program in 2024 reflects confidence in the project's capacity to deliver substantial copper and gold resources. As these exploration efforts unfold, Carnaby Resources stands on the cusp of unlocking significant value from the Greater Duchess Copper Gold Project, marking a new chapter in the region's mining history.

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