08/03/2022 - 12:53

DiscovEx, Carnaby extend Queensland copper discovery

08/03/2022 - 12:53

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DiscovEx Resources’ joint venture partner, Carnaby Resources, has intersected a high-grade 27 metre copper zone in a step out diamond drilling program at the Nil Desperandum prospect, part of the larger Greater Duchess project near Mt Isa in Queensland. According to the company, its latest probe suggests the mineralised system boasts both grade and range given it was sunk over 120m from the initial discovery hole.

DiscovEx, Carnaby extend Queensland copper discovery
Carnaby in action at the Nil Desperandum prospect. Credit: File

DiscovEx Resources has notched another win in Queensland after its joint venture partner, Carnaby Resources intersected a high-grade 27 metre copper zone in a step out diamond drilling program at the Nil Desperandum prospect, part of the larger Greater Duchess project near Mt Isa in Queensland. According to the company, its latest probe suggests the mineralised system boasts both grade and range given it was sunk over 120m from the initial discovery hole.

Carnaby says the hole was aimed at testing the southern downhole extensions of the high-grade discovery that intersected 41m at a remarkable 4.1 per cent copper late last year.

The company says the exploration is the first to core through the entire interval of a new high-grade lode bearing a unique style of copper-gold mineralisation that is characterised by a chalcopyrite matrix and pegmatite dykes.

In addition, Carnaby has also got its hands on assay results from previous RC drilling at the prospect, that have confirmed the presence of a shallow high-grade copper gold discovery.

The notable hits from the earlier work include a 40m section going 1.5 per cent copper from 251m. The strike housed a richer 30m zone running 1.9 per cent copper from 253m.

The hole was mineralised again with a 7m section grading 2.6 per cent copper from 253m and included a 11m component at 2.9 per cent copper from 272m.

According to Carnaby, the mineralisation struck at the prospect will be further tested by ongoing drilling given it has now been intersected in three adjacent holes close to a previously defined IP anomaly.

DiscovEx Resources' Managing Director, Toby Wellman said:“A great result for Carnaby and a great result for DiscovEx. Given this latest step out hole has intersected 27m of strong copper mineralisation, coincident with the previously defined IP anomaly, it can only suggest further successful high‐grade intersections are to come. The significant step out distance (~125m) from the discovery hole of NLDD044 now shows this mineralised system has grade as well as scale. With DiscovEx free carried to a decision to mine, we will follow the ongoing exploration works within the Greater Duchess JV with great anticipation.”

 

Perth-based DiscovEx offloaded just over 80 per cent of its interest in its Southern Hub exploration tenements, that hosts the Greater Duchess project, to Carnaby about two years ago in return for a free carried interest. The decision looks to have been a shrewd move, with Carnaby scoring a string of strong results in recent months and allowing DiscovEx to focus on its gold exploration ventures across Western Australia.

With numerous targets, a growing mineralised system that is showing both scale and grade and a copper market that is flying, DiscovEx and its joint venture partner, Carnaby Resources, appear to be primed to make the most of a market voracious for all things related to the electric vehicle industry.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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