Carnaby Resources reports that diamond drilling has delivered a ‘spectacular’ result of 87m at 2.3 per cent copper and 0.5g/t gold from the Chalcus lode at its Greater Duchess project.

The explorer describes this intersection as highly significant as it forms a direct lateral extension to the Chalcus lode and is completely open at depth.

This bodes well for the potential to increase the copper and gold endowment at the discovery.

The Chalcus lode sits within the Mount Hope Central prospect at Greater Duchess in north-west Queensland.

The drill intersection of 87m (true width about 29m) at 2.3 per cent copper was from 550m downhole and associated with an intensely strong downhole electromagnetic conductor.

Carnaby has also released fresh results from the Lady Fanny prospect at Greater Duchess, with highlights including:

• 64m (TW about 28m) at 1.0 per cent copper and 0.2g/t gold, including 27m (TW~12m) at 2.0 per cent copper and 0.3g/t gold
• 13m (TW~5m) at 1.8 per cent copper and 0.1g/t gold, and 52m (TW~18m) at 1.5 per cent copper and 0.2g/t gold, including 25m (TW~9m) at 2.8 per cent copper and 0.4g/t gold.

“This fantastic extension of the Chalcus lode in MHDD190W5 backed up by an intense EM conductor is highly significant as this shows that the Chalcus lode is getting bigger and is completely open laterally and at depth below the current resource boundary,” managing director Rob Watkins said.

“In addition, the continued results from Lady Fanny and the off-end-of-hole conductor 500m to the north highlight the potential for further extensions to the deposit.”

Related: Maiden mineral resource out for Greater Duchess

Carnaby Resources last month announced a maiden interim mineral resource estimate for its Greater Duchess project of 21.8Mt at 1.3 per cent copper and 0.2 g/t gold.

Taking in the Mount Hope, Nil Desperandum and Lady Fanny prospects, the resource includes 283,100 tonnes contained copper and 148,200 oz gold..

The company has now launched its maiden drilling program at the Wimberu prospect at the Devoncourt project, which is the subject of a farm-in agreement with Rio Tinto.

The program is targeting large-scale magmatic hydrothermal breccia-hosted IOCG mineralisation and seven initial angled RC holes are in progress.