viewCarnaby Resources Ltd

Carnaby Resources unearths historical drilling results with up to 8.6% copper

The historical drill results were selectively sampled for intervals of visual high-grade copper mineralisation and did not systematically sample the lower grade sections of core.

Mount Birnie IOCG target represents a highly prospective key focus area for immediate follow-up

Carnaby Resources Ltd (ASX:CNB) has unearthed historical diamond drilling results containing up to 8.6% copper from the Mount Birnie prospect in the Mt Isa region of Queensland.

No reported drilling has been identified in the 50 years since these holes were drilled, even though Mount Birnie is only 4 kilometres north of the company's Tick Hill gold deposit.

The historical diamond drilling was not routinely assayed for gold, however, recent sampling of mullock dumps has demonstrated gold grades of up to 6.5 g/t gold, showing a strong association with the copper mineralisation.

“Spectacular drill results”

Carnaby’s managing director Rob Watkins said: “The unearthing of these spectacular historical drill results only 4 kilometres north of one of Australia’s highest-grade gold-rich IOCG deposits at the 100%-owned Tick Hill deposit is further early vindication of our belief in the prospectivity of the extensive land holding we have established at Tick Hill.

“We look forward to following up these results as soon as possible as part of Carnaby’s maiden drilling program targeting Tick Hill and Mount Birnie, which is due to commence in late June.

“We are also highly encouraged by the SAM survey over Tick Hill and Mount Birnie, which has just been completed.

“Results from the SAM surveys are being compiled and will be released shortly.”

High-grade results

Over 50 years ago diamond drilling at Mount Birnie intersected the following:

  • 11.7 metres at 7.1% copper from 84.1 metres;
  • 13 metres at 3.3% copper from 172.8 metres, including 4.1 metres at 8.6% copper from 181.6 metres; and
  • 4.2 metres at 3.9% copper from 176.9 metres.

Historical mining records for Mount Birnie are scarce, however, limited information indicates the mine was worked during WWI where two small shafts were sunk to about 24 metres and 36 metres.

Mullock from the dumps has recorded assays of up to 6.5 g/t gold and 19.2% copper with numerous small pits present in the area, indicating widespread copper occurrences.

Quick facts: Carnaby Resources Ltd

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