Game Changer-1st Trek 1 Exploration Hole Hits 7m @ 9.3% CuEq

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Stock Carnaby Resources Ltd (CNB.ASX)
Release Time 22 Sep 2025, 9:02 a.m.
Price Sensitive Yes
 Game Changer-1st Trek 1 Exploration Hole Hits 7m @ 9.3% CuEq
Key Points
  • Spectacular high grade drill result of 7m @ 9.3% CuEq (8.0% Cu, 1.5g/t Au) from 415m, including 5m @ 12.5% CuEq (10.8% Cu, 2.0g/t Au)
  • Result confirms a direct 150m extension of the historical Trekelano Mine orebody (renamed Trek 1)
  • The new high grade drill result is well outside the current Mineral Resource Estimate (MRE) and has excellent potential for the Trek 1 MRE to grow significantly
Full Summary

Carnaby Resources Limited (ASX: CNB) has announced a spectacular high grade drill result from the first exploration hole at the Trek 1 prospect within the Greater Duchess Project in Mt Isa, Queensland. Drill hole CBRC001 intersected 7m @ 9.3% CuEq (8.0% Cu, 1.5g/t Au) from 415m, including 5m @ 12.5% CuEq (10.8% Cu, 2.0g/t Au). This result confirms a direct 150m extension of the historical Trekelano Mine orebody, which has been renamed Trek 1. The new high grade intersection is completely open at depth and along strike, and is well outside the current Mineral Resource Estimate (MRE) for the Trek 1 deposit. The historical Trek 1 underground mine was one of the most significant copper mines in the Mount Isa region, mined continuously from 1911 to 1943 down to a depth of 245m. The spectacular new drill result demonstrates that the high grade mineralization continues for at least another 150m down plunge and remains open. Carnaby is now completing further drilling, including an RC precollar and diamond tail to test for a further down plunge extension of the new high grade mineralization, as well as an additional RC hole to test up plunge of the new result. The company is also completing geotechnical, metallurgical and resource delineation drilling to update and reclassify the current Trek 1 MRE, and is conducting open pit optimisations as part of the Greater Duchess Pre-Feasibility Study, which is on track for completion in 2025.

Guidance

Carnaby has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

Outlook

Carnaby has not provided any forward-looking outlook statements in the announcement.