Carnaby Resources (ASX:CNB) has reported ‘stunning’ maiden drill results from the Lady Fanny prospect within its Greater Duchess Copper Gold Project in Mt Isa, Queensland.
Assays have been received from the first five holes drilled at the prospect, which the company says outline a ‘broad, shallow, high-grade’ copper gold deposit.
Highlight intercepts include:
- Hole LFRC009: 27m @ 2.8% Cu, 0.8 g/t Au from 61m; including
- 9m @ 4.0% Cu, 0.3 g/t Au from 65m
- 11m @ 3.3% Cu, 1.6 g/t Au from 77m
- Hole LFRC013: 20m @ 2.3% Cu, 0.5 g/t Au from 30m; including
- 6m @ 5.5% Cu, 1.4 g/t Au from 38m
- Hole LFRC012 – 17m @ 2.1% Cu, 0.9 g/t Au from 74m; including
- 7m @ 4.2% Cu, 2.0 g/t Au from 77m
Importantly, this drill campaign is thought to be the first recorded within the historic Lady Fanny mining lease area, with results remaining open at depth and along strike.
“These stunning first pass drill results…demonstrate the untapped potential of the greater than 5km long IOCG corridor”
Speaking on the results, Carnaby Resources Managing Director Rob Watkins said: “These stunning first pass drill results from Lady Fanny just 3 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.”
Lady Fanny is situated approximately 3km north of Carnaby’s high grade Nil Desperandum discovery, which had delivered grades of 41m @ 4.1% Cu and 0.5g/t Au in December 2021.
The company notes that both prospects sit within a ‘vastly underexplored’ IOCG corridor stretching for 5km, which may hold potential to form a ‘major’ new copper-gold district.
Moving forward, Carnaby states that it plans to complete a drill-out along 400m of strike at Lady Fanny, exploring for strike extensions to the North where mineralisation tracks underneath quartzite scree slope cover.
Further work will be carried-out at the south of the deposit, where outcropping mineralisation tracks under shallow alluvial cover.