DiscovEx Resources and JV partner Carnaby Resources are continuing to spin the money wheel at their remarkable Greater Duchess copper discovery in Queensland that has already led to a tripling of Discovex’ share price and a nine fold increase for Canaby. The JV partners recently unveiled another slew of strong results from half a dozen holes drilled across their Lady Fanny and Burke & Wills prospects with all holes hitting shallow, high-grade copper gold mineralisation.
Some of the better recent results from Lady Fanny include a 40 metre intersection going 1 per cent copper with anomalous gold from the surface. It also included a 13m intersection grading 1.5 per cent copper from 20m.
Notable results from recent drilling at the Burke & Wills prospect include a 5m hit at 2.2 per cent copper with 0.2 grams per tonne gold from 44m. That intersection included a 1 metre hit grading a significant 8.8 per cent copper and 0.4 g/t gold from 46m.
Carnaby’s latest work follows drilling at the nearby Nil Desperandum prospect which forms part of the larger Greater Duchess copper-gold project. Previous work at Nil Desperandum unveiled a stellar 41m strike going 4.1 per cent copper and 0.5 g/t gold that set both companies share prices alight.
The company is now planning to run an extensive induced polarised survey to test the southwest extension of the 41m hit at Nil Desperandum.
Carnaby Resources Managing Director, Robert Watkins said:“The Lady Fanny, Burke & Wills and Nil Desperandum discoveries are rapidly emerging as a major new and vastly underexplored Iron Oxide Copper Gold corridor with untold size potential. We are looking forward to the commencement of the IP geophysical surveys today and the start of drilling by week’s end.”
DiscovEx sold 82.5 per cent of its Southern Hub exploration interests to Carnaby Resources over two years ago and the junior explorer looks to be probing its ground at a feverish pace, delivering a conga line of solid hits over the last couple of months.
Importantly for DiscovEx, its is free carried on the project for the remaining 17.5 percent with Carnaby set to do the heavy financial lifting.
Copper prices are enjoying a resurgence and are floating around near-decade highs, trading close to US$9,700 per tonne.
Copper is also very much a part of the electric vehicle battery metals revolution and whilst its pricier cousin nickel, is regularly setting pulses racing, it may not be long before commodities such as graphite and copper take centre stage in the battery metals modern day gold rush – and when they do, discoveries like Greater Duchess that just keep on giving, will be front and centre in the spotlight.
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