A review of historical drill results at Carnaby Resources’ (ASX: CNB) Mount Birnie prospect, part of the wider Tick Hill project, has revealed copper assaying up to 8.6%.
Mount Birnie is only 4km north of Carnaby’s primary Tick Hill deposit in Queensland’s Mt Isa region.
Diamond drilling carried out at Mount Birnie more than 50 years ago returned notable results of 11.7m at 7.1% copper from 84.1m; 13m at 3.3% copper from 172.8m, including 4.1m at 8.6% copper from 181.6m; and 4.2m at 3.9% copper from 176.9m.
According to Carnaby, mineralisation is open and within a 4km anomaly that hosts numerous historical workings.
“The unearthing of these spectacular historical drill results located only 4km north of one of Australia’s highest-grade gold rich iron-oxide-copper-gold deposits at the 100% owned Tick Hill deposit is further early vindication of our belief in the prospectivity of the extensive land holding that we have established at Tick Hill,” Carnaby managing director Rob Watkins said.
“We look forward to following up these results as soon as possible as part of Carnaby’s maiden drilling program targeting Tick Hill and Mount Birnie, which is due to commence in late June.”
“We are also highly encouraged by the sub audio magnetic survey over Tick Hill and Mount Birnie, which has just been completed.”
Mr Watkins said the survey results will be released “shortly”.
Tick Hill project
Last month, Carnaby reported first-pass exploration across Tick Hill, Mount Birnie, Mount Erle and Grassano targets had unearthed up to 8.6 grams per tonne gold and 23.9% copper in rock chip samples.
At Mount Birnie, rock chips returned up to 19% copper and 6g/t gold.
The upcoming maiden campaign will comprise more than 10,000m of drilling.
According to Carnaby, the historic Tick Hill mine was once Australia’s highest-grade and most profitable gold operations.
The Tick Hill project comprises more than 320 square kilometres of tenements in the region.
News of the historic assays spurred Carnaby’s share price up more than 7% to $0.14 in early morning trade.