Carnaby on track for Q1 Greater Duchess Scoping Study 

Carnaby Resources (ASX:CNB) remains on track to complete a Scoping Study for its Greater Duchess Copper-Gold Project in Mt Isa, Queensland, in the March 2024 quarter. 

The $104.22 million market capitalisation company says discussions with other potential processing route options as part of the Scoping Study and joint metallurgy studies with mining giant Glencore (LON:GLEN) are ongoing. 

Carnaby says once the Scoping Study is complete, it will proceed directly to Prefeasibility Studies targeted for the end of 2024.

Meanwhile, the company notes it is currently planning and budgeting for another ‘major’ exploration and resource drilling program for later in the year.

The plans for the additional drilling come after Carnaby on 2 February 2024 posted ‘exceptional’ new exploration results from Greater Duchess, including an ‘exciting, new high-grade’ discovery. 

Results, generated from reverse circulation and diamond drilling, demonstrate copper grades of up to 3.3% at the Duchess Central Lode in hole DCRC006 (which remains completely open at depth), and 1.6% copper at the Mount Hope Central prospect. 

Drilling at Mount Hope Central indicates ‘excellent’ continuity directly down-plunge from prior results and continuity of today’s results outside of the current Mineral Resource Estimate (MRE). 

Additional results from the Chalcus Lode are also interpreted to be open down-plunge and outside the current MRE.

Meanwhile, a high-resolution drone magnetic survey has been completed over the Mount Hope prospect, flagging numerous new potential targets. 

Carnaby Managing Director Rob Watkins says: “At Duchess, while it is early days, the new high-grade discovery is encouraging, as it lies immediately west of the extremely high-grade Duchess Mine Lode, which averaged 12.5% copper at the turn of the century and was one of the main copper mines in the Mount Isa district from circa 1900-1930. 

Mount Hope Central continues to impress, with exceptional new drill results from outside of the existing mineral resource and new targets generated from a recent drone survey.”

Carnaby Resources is an explorer and developer focused on copper and gold projects in Queensland and Western Australia.

Write to Adam Drought at Mining.com.au

Images: Carnaby Resources
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.