Carnaby Resources Says Drilling at Queensland Project Confirms High-Grade Copper-Gold Mineralization

MT Newswires Live05-27

Carnaby Resources (ASX:CNB) said drill assay results confirmed the true widths of the high-grade copper-gold mineralization beneath the historical Inheritance open pit at the Trekelano project in Queensland, according to a Tuesday Australian bourse filing.

It encountered significant drilling intercepts of 41 meters at 2.3% grade of copper and 0.5 grams per tonne grade of gold from 169 meters, as well as 29 meters at 1.2% grade of copper and 0.5 g/t grade of gold from 181 meters.

The Trekelano project is being incorporated into the Greater Duchess pre-feasibility study, and the study is expected to be completed in the second half.

Its shares soared 13% on market close on Tuesday.

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