Carnaby Resources Says Drilling at Queensland Project Shows Down Plunge Continuity of Breccia Shoot Mineralization; Shares Jump 16%

MT Newswires Live

03/25

Carnaby Resources (ASX:CNB) said exploration drilling results from the Greater Duchess project in Queensland showed the down plunge continuity of the breccia shoot mineralization over at least 600 meters below the ore reserve open pit, according to a Wednesday Australian bourse filing.

The company encountered intercepts of 8.1 meters at 9.9% grade of copper-equivalent, including 8% grade of copper and 2.2 grams per tonnes (g/t) grade of gold from 485 meters as well as 8 meters at 4.9% grade of copper-equivalent, including 2.4% grade of copper and 2.9 g/t grade of gold from 585 meters.

Carnaby Resources' shares jumped 16% in recent trading on Wednesday.

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