Carnaby Resources’ exploration plans in North-West Queensland have received a kick-along with two State grants totalling $386,000.
Collaborative Exploration Initiative funding will cover a 600m diamond drill hole at the Wimberu prospect at the Devencourt project.
It will also see downhole electromagnetic survey work carried out for the first time at the site.
It will also support a planned 409 line km VTEM survey targeting the Magna Lynn corridor south of the company’s Nil Desperandum copper discovery.
Both areas fall within Carnaby’s Greater Duchess copper-gold project, 70km south-east of Mount Isa.
A prefeasibility study for mining at Greater Duchess remains on track to be completed by mid-year.
“We welcome the Queensland government support to encourage and fully fund these early-stage exploration activities in the world-class Mount Isa Inlier,” Carnaby nanaging director Rob Watkins said.
“We consider the Wimberu prospect an exceptional, high-tier, intrusive breccia-hosted IOCG target and look forward to the drilling program.
“We are also highly excited by the 409 line km VTEM survey at the Magna Lynn corridor south of the original Nil Desperandum discovery.
“While it has been a slow start to 2025 with delayed access to starting the maiden Trekelano drilling program, we are confident that it will be worth the wait and look forward to commencing that program in the coming few weeks.”
The company said settlement of its Trekelano acquisition was on track to be completed within the next two months.
Carnaby Resources is buying the Trekelano copper-gold asset from Chinova Resources, boosting the scale of the Greater Duchess project.
