Uncovering a major new copper-gold system in Queensland and exploring Australia’s newest major and underexplored gold district.
Carnaby Resources Limited (ASX: CNB) is an Australian exploration and development company focussed on copper and gold projects in the Mount Isa Inlier of Queensland and the Pilbara’s Mallina Basin and Yilgarn Margin of Western Australia.
The Greater Duchess Copper Gold Project, located approximately 70km southeast of Mount Isa in Queensland and centred around the historical Duchess copper mining district, encompasses 1,022km2 of Iron Oxide Copper-Gold (IOCG) prospective tenure, including Carnaby’s recent Nil Desperandum and Lady Fanny discoveries. The region is host to numerous significant IOCG deposits, including Ernest Henry, Osborne and Eloise.
The Queensland tenement package also contains the Company’s 100% owned Tick Hill gold project, which was one of Australia’s highest grade and most profitable gold deposits ever mined, producing 511,000 ounces at 22.5 grams per tonne between 1991 and 1995 before faulting off at 235 m below the surface.
The Company holds a highly prospective 442km2 land package in the Pilbara’s Mallina Basin, northeast of De Grey Mining Ltd’s (ASX:DEG) Hemi gold deposit, which is Australia’s newest major and under explored gold district.
In addition to its land holdings in the Mallina Basin and the Mount Isa Inlier, the Company holds a further 783km2 gold and base metals prospective exploration package in the Yilgarn Margin of Western Australia, which contain the Company’s Malmac and Throssel projects.