Carnaby Resources (ASX: CNB) has reported ‘very significant’ new geophysical anomalies following the commencement of IP surveys at its Greater Duchess Copper Gold Project in Mt Isa, Queensland.
These results, generated from the first nine lines of an extensive survey program, have identified two ‘significant’ IP chargeability anomalies at Lady Fanny South and Shamrock, within a high-priority area between the Nil Desperandum and Lady Fanny discoveries.
Speaking on the results, Carnaby Resources Managing Director Rob Watkins said: “The undrilled 3km corridor between Nil Desperandum and Lady Fanny now has two excellent deposit scale drill targets following the identification of these highly significant IP anomalies.
“The undrilled 3km corridor between Nil Desperandum and Lady Fanny now has two excellent deposit scale drill targets”
IP has proven to be a fantastic targeting tool being responsible for the original high grade discovery hole at Nil Desperandum. These new IP anomalies are both of similar strength and magnitude and are being fast tracked to first pass drill testing.”
The company also notes that the anomaly identified at the Shamrock Prospect, approximately 1.5km northeast of Nil Desperandum, is coincident with undrilled historical workings in which outcropping copper gold breccia and shear-hosted mineralisation is present.
In addition, the anomaly located at Lady Fanny South is reportedly under shallow alluvial cover south of any previous drilling, and has been traced for over 600m, forming a continuous chargeability anomaly over an approximate 1.4km strike length.
Importantly, despite the presence of ‘numerous’ historical copper gold workings, no previous drilling has been conducted within this priority target area.
The Greater Duchess Copper Gold Project is located approximately 70km to the south of Mt Isa and comprises a total landholding of approximately 1,022km².
The project hosts the major Nil Desperandum (82.5% interest) and Lady Fanny (100% interest) prospects, as well as the historical Duchess Copper-Gold Mine which has produced approximately 205,000t @ 12.5% Cu.
With the current IP survey program ongoing, the Carnaby reports that it will move forward with first-pass drill testing of the newly identified deposits.
Images: Carnaby Resources Limited