JV partners DiscovEx Resources and Carnaby Resources have added another riveting chapter to the duo’s Queensland copper story, with the explorers intersecting 110m of visual sulphide mineralisation at the base of a hole at their Lady Fanny South prospect. The exploration target was defined last month through an induced polarisation survey and forms part of the larger Greater Duchess project near Mt Isa.
According to Carnaby, the 100m-plus parcel struck at the Lady Fanny South prospect showed “halo-style” disseminated and stringer copper sulphide veining and the explorer is now awaiting assay results to determine the grades.
The copper strike runs from a depth of 239m and is within the perimeter of an extensive IP anomaly unveiled last month.
Carnaby says the hole was aimed at penetrating the anomaly’s core however a considerable increase in dip during drilling forced the bit wayward.
Initial structural measurements from diamond core pulled from the bore suggest the region’s mineralisation is strongly influenced by the ground’s shear zones and is dipping steeply west and striking in a north-south direction.
Carnaby says the orientation emphasises a robust and largely untapped west-dipping geological structure that will be the focus of a future campaign.
Management believes vectoring in on the zone could lead to a smorgasbord of high-grade copper strikes.
Lady Fanny South is within a 3km corridor between Carnaby’s Nil Desperandum and Lady Fanny discoveries. Lady Fanny South was initially detected after the company completed five geophysical lines south of its Lady Fanny discovery.
Earlier work at Lady Fanny delivered solid hits including a remarkable 13m section running 4.4 per cent copper and 0.2 grams per tonne gold from 122m with a richer 3m hit at 17.1 per cent copper and 0.3 g/t gold from the same depth.
One of the longer hits from earlier work at Lady Fanny includes 31m at 1.1 per cent copper from 78m, with a higher-grade 10m inclusion running 1.7 per cent copper from 84m.
DiscovEx divested a little over 82 per cent interest in its Southern Hub exploration tenements including its Lady Fanny South and nearby Shamrock prospects to Carnaby about two years ago in exchange for a free carried interest.
The transaction allows the precious metal-focused explorer to concentrate its efforts on the discovery of significant gold deposits whilst possibly claiming a significant slice of the pie should Carnaby scrub up its targets into an economically viable resource. So far, so good.
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By Matt Birney
