New figures out as Greater Duchess advances
By Industry Queensland
Carnaby Resources (ASX:CNB) has boosted the mineral resource estimate for the Greater Duchess project as it targets first ore production this year to capitalise on record copper and gold prices.
The updated estimate sees a solid increase in overall mineral resources of 10 per cent taking, it to 440,500 CuEq tonnes.
Carnaby managing director Rob Watkins said this did not include the very high grade Trek 1 discovery announced late in 2025, where ongoing drilling was planned followed by a maiden MRE and scoping studies.
Key points:
- Updated mineral resource estimate announced for Greater Duchess
- Final investment decision expected by mid-year
- Development and first ore production targeting H2 2026
“The Greater Duchess project prefeasibility study is nearing completion and will be completed in Q1 CY25,” Mr Watkins said.
“Feasibility works have already commenced as Carnaby’s toll milling base case heads towards potential FID and development in H2 2026 to capitalise on record copper and gold prices.
“During the last 24 months Carnaby has consolidated the Greater Duchess mineral resources to 100 per cent ownership with no additional production royalties payable other than State Government royalties.”
Related: Breen to help guide Greater Duchess development
The project is located about 70km south-east of Mount Isa.
The total mineral resource for the Greater Duchess project stands at 29.2Mt at 1.3 per cent copper, 0.2g/t gold, 1.5 per cent CuEq for contained 380,300t copper and 230,200koz gold (440,500kt CuEq).
That includes an indicated mineral resource of 17.0Mt at 1.5 per cent copper, 0.3g/t gold, 1.7 per cent CuEq for contained 249,600t copper, 145,700oz gold (288,100t CuEq).
You may also like:
