DiscovEx Resources’ JV partner Carnaby Resources continues to kick goals in Queensland announcing a suite of prominent precious and battery metal strikes at the duo’s Greater Duchess project in the Mt Isa region. The campaign was headlined by a 6m parcel grading a sky-high 6.7 per cent copper and 1.2 grams per tonne gold from 77m at the emerging Burke & Wills discovery.
Notably, the 6m interval housed an even higher-grade 4m section going 9.7 per cent copper and 1.7 g/t gold from 77m. Additional drill hits that caught the eye include a 3m parcel running 5.8 per cent copper from 80m inside a broader 5m segment going 3.7 per cent copper from the same depth.
The results follow a program of six shallow RC holes plunged across the Burke & Wills prospect at the back end of 2022. The campaign was aimed at testing a clutch of near surface workings sitting under alluvial cover where a number of shallow historic shafts presented an inviting target.
DiscovEx, though its JV partner, has now not only validated the zones of mineralisation but the latest 6m, 6.7 per cent copper hit also represents the highest-grade intersection recorded at the site.
Intriguingly, the company says the 5m long, 3.7 per cent copper segment struck in the campaign was also delivered from the most southern sitting bore ever plunged at the site. The result suggest the JV-partners could have, potentially an even larger body of mineralisation at the Burke & Wills discovery.
According to Carnaby, the site’s copper mineralisation boasts a very consistent and high-grade profile sitting within a linear fault zone which dips moderately to the east. In addition, management states it has now unearthed elevated mineralisation over a strike length of 260m. It says the prospect’s battery and precious metal inventory appears to be open along strike to the north, south and at depth.
Carnaby now plans to continue its step out drilling efforts at the prospect to determine the magnitude of the site’s mineralisation before incorporating the results into the development of a maiden mineral resource.
DiscovEx holds a free carried 17.5 per cent interest in the Southern Hub tenements –part of the Greater Duchess Project - after cutting a deal with Carnaby Resources about two years ago. The result not only removed the future burden of any exploration costs associated at the site for DiscovEx, it also left the company with significant upside exposure to the project.
DiscovEx Resources Managing Director, Toby Wellman said:“The emergence of additional prospect areas including Burke and Wills is an exciting development in the continuing evolution of the Greater Duchess Project. Carnaby continues to deliver positive results within the Southern Hub tenements, which represents a significant value add to DiscovEx shareholders.”
These latest results from Carnaby’s exploration at Greater Duchess appear to be exquisitely timed with copper prices on the London Metal Exchange charging approximately 30 per cent higher in the previous six months to US$4.20 per pound. DiscovEx will no doubt be hoping Carnaby’s run of success will continue with the next round of drilling.
Watch this space.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
