top of page

DiscovEx Resources, Carnaby unveil big, high-grade QLD copper hits

Updated: 7 hours ago


DiscovEx and Carnaby's copper chase in Far North Queensland continues in earnest. Credit: File


DiscovEx Resources’ JV partner, Carnaby Resources, has added more high-grade copper hits to its highlight reel at the duo’s Burke and Wills copper-gold prospect near Mt Isa in Queensland.


Management says headline results from a recent 10-hole campaign include 8m going 2 per cent copper and 0.5 grams per tonne gold from 130m, containing 3m grading 5.2 per cent copper and 1.3g/t gold from 130m.


Another significant result saw a hole produce 9m running 1.5 per cent copper and 0.3g/t gold from 102m, including 5m at 2.5 per cent copper and 0.6g/t gold from the top of the hit.


The duo believes the Burke and Wills deposit forms a highly-continuous lode structure where high-grade copper and gold mineralisation has been intersected through a 250m strike length and appears to be plunging to the north. Several reverse-circulation (RC) drilling holes in the JV’s latest program appear to have closed off mineralisation to the south, but conversely, mineralisation remains open to the north. Further drilling is planned to investigate the area.


The results are set to feed into a maiden mineral resource estimate for Carnaby’s Greater Duchess project slated for the third quarter of this year.


DiscovEx holds a free-carried 17.5 per cent interest in the Southern Hub tenements – part of Carnaby’s Greater Duchess Project – after cutting a deal with its partner company nearly three years ago. The result not only removed the future burden of any exploration costs associated at the site for DiscovEx, it also left the company with significant upside exposure to the project.


Its foresight could pay big dividends as Carnaby squirrels away at proving up a clutch of high-grade prospects in the pair’s shared acreage, including the developing Nil Desperandum and Lady Fanny South deposits.


Nil Desperandum has delivered a wealth of rich copper hits in recent times, including a solid 41m intercept running 4.1 per cent copper with 0.5g/t gold from 274m, which included a higher-grade 9m interval going 10.3 per cent copper.


Similarly, Lady Fanny has turned out a broad 68m hit going 2.4 per cent copper and 0.4g/t gold from 40m, in addition to a dazzling 13m strike running 4.4 per cent copper from 122m.


Outside of its JV operations, Perth-based DiscovEx recently unveiled assay results from infill air-core drilling, which confirmed gold and silver mineralisation within weathered bedrock at its Spartan East, Spartan West and Colossus prospects as part of the company’s Edjudina project, which is about 250km north-east of the Goldfields hub of Kalgoorlie.


In 1923, prospector John Campbell Miles is said to have named Mt Isa – in honour of a WA mine of the same name – after scratching the surface of one of the world's richest deposits of copper, silver and zinc on his way the Northern Territory. A hundred years on, DiscovEx and Carnaby are working hard to add a new chapter to area’s historical tale.



Is your ASX-listed company doing something interesting? Contact: office@bullsnbears.com.au

Comments


bottom of page