Carnaby Resources Ltd. · ASX:CNB
Carnaby Resources — Macquarie Western Australia Forum 2024
24 slides from Carnaby Resources's conference presentation, November 2024
Slide 1: Growing Copper-Gold Discovery with Tier 1 Infrastructure
GROWING COPPER-GOLD DISCOVERY WITH TIER 1 INFRASTRUCTURE Macquarie Western Australia Forum, November 2024 PHOTO OF COSTEAN OUTCROP SAMPLE FROM MOHAWK
Slide 2: Statements and Disclaimers
Statements and Disclaimers Competent Persons Statement The information in this document that relates to all exploration results is based upon information compiled by Mr Robert Watkins. Mr Watkins is a Director and shareholder of the Company and a Member of the AusIMM. Mr Watkins consents to the incl
Slide 3: Corporate Overview
CORPORATE OVERVIEW A growing copper gold company
Slide 4: Corporate Overview
Corporate Overview STRUCTURED FOR EXPLORATION SUCCESS CORPORATE STRUCTURE1 BROKER COVERAGE Shares on Issue 171.9M Share Price $0.37 Unlisted Options 4.4M Market Cap $64M SHARE PRICE PERFORMANCE1 Cash @ 31 September 2024 $7.0M $2.50 Lady Fanny $2.00 Discovery MAJOR SHAREHOLDERS2 Chalcus Lode Greater
Slide 5: ASX Copper Developers and Producers
ASX Copper Developers and Producers A TIGHT SPACE • Most development projects are currently stalled due to significant stand-alone Capex requirements • Numerous single mine developers and producers • Opportunity for consolidation Market Cap (A$M) 736 1,542 291 203 204 138 128 89 64 70 73 54 35 40 43
Slide 6: Queensland Focused Copper-Gold-Lithium Explorer
Queensland Focused Copper-Gold-Lithium Explorer KEY ASSETS IN PROVEN MINING HUBS + BASE METAL PROVINCES PILBARA GOLD AND GREATER DUCHESS COPPER LITHIUM PROJECTS AND GOLD PROJECTS 397 km2 tenements 1,946 km2 tenements MALMAC COPPER AND LITHIUM PROJECT 739 km2 tenements NOVEMBER 2024 1 INCLUDES IN-PRO
Slide 7: Greater Duchess Project
Greater Duchess Project SURROUNDED BY TIER 1 INFRASTRUCTURE Large 1,946 km2 tenement package1 Unused Rail Loop • 70km SE of Mount Isa From 1960’s • Tier 1 Infrastructure Concentrate • Main Railway Rail Loop passes within 1km of the Rom Pad deposits • Gas pipeline 3 km Nil Desperandum Myubee Siding •
Slide 8: Greater Duchess Copper Gold Project
Greater Duchess Copper Gold Project HIGH POTENTIAL FOR MINERAL RESOURCE GROWTH1 New Discovery Potential Consolidated Mount Hope region has huge potential for additional open pit satellite discoveries. Scoping Study Highlights optionality for low capex ($35M) start up and longer term stand alone pote
Slide 9: Exploration
EXPLORATION 315,000t CuEq discovered by Carnaby at the Greater Duchess Project in the last 2.5 years PHOTO OF COSTEAN FROM MOHAWK
Slide 10: Mount Hope Region (CNB 51-100%)
Mount Hope Region (CNB 51-100%) EXCEPTIONAL VTEM CONDUCTORS LIGHT UP MOUNT HOPE REGION Jude Mohawk 3 Mohawk Deejay The Plus Pronuba NOVEMBER 2024 10 1 SEE ASX RELEASES DATED 9 SEPTEMBER 2024 & 21 OCTOBER 2024
Slide 11: Mohawk Discovery (CNB 100%)
Mohawk Discovery (CNB100%) NEW HIGH GRADE DISCOVERY 1.5KM SE OF MOUNT HOPE1 First two drill hole yielded high grade intersection: • MKRC001: 21m @ 2.0% Cu from 43m, Incl 12m @ 3.3% Cu. Drilling is ongoing with assays pending from several recent holes. >2km Mohawk shear zone is completely underexplor
Slide 12: Nil Desperandum Region (CNB 82.5%)
Nil Desperandum Region (CNB:82.5%) MAJOR VTEM CONDUCTOR – SAN QUENTIN Nil Desperandum Mineral Resource • 4.3Mt @ 1.3% Cu, 0.2g/t Au open to SW • High grade Breccia Pipe 0.7Mt @ 3.3% Cu, 0.5g/t Au San Quentin Prospect • UNDRILLED, 2km SE of Nil Desperandum • Late channel VTEM conductor • Coincident w
Slide 13: Magna Lynn Southern Corridor (CNB 100%)
Magna Lynn Southern Corridor (CNB:100%)1 • Structural and stratigraphic corridor that stretches over 75 km of strike SW of Nil Desperandum IOCG discovery • Interpreted southern continuation of the Mount Hope to Nil Desperandum IOCG corridor • Virtually unexplored with no historic drilling or soil sa
Slide 14: Rio Tinto Devoncourt Project Farm-in
Rio Tinto Devoncourt Project Farm-in VERY ENCOURAGING SIGNS FROM MAIDEN DRILLING PROGRAM1 Wimberu Prospect • Maiden diamond drill program has intersected highly encouraging breccia style mineralisation in WBDD003. • The new 17m downhole breccia and vein zone is completely open and untested in all di
Slide 15: Development
DEVELOPMENT Optionality to develop a low Capex start up or Standalone project PHOTO OF COSTEAN FROM MOHAWK
Slide 16: Greater Duchess Scoping Study Results
Greater Duchess Copper Gold Project SCOPING STUDY RESULTS1 • Low ~A$35M Pre-production Capex Third Party Processing development optionality. • Predicting fast payback with high IRR and consistent operational cash flows. • Conservative Optimisation and Design pricing assumptions using A$12,000t (Spot
Slide 17: Greater Duchess Scoping Study Results
Greater Duchess Copper Gold Project SCOPING STUDY RESULTS1 • 9-year target 7.5Mt @ 1.9% CuEq, 140,000t CuEq. Annual Estimated Mining Production of CuEq Metal by Mining Source 30,000 3 • 3-year open pit average: 1.1Mt @ 1.7% CuEq, 19,000t pa 25,000 2.5 • 6-year underground average: 0.7Mt @ 2.1% CuEq,
Slide 18: Greater Duchess Scoping Study: Low Capex Direct Rail Haulage
Greater Duchess Scoping Study LOW CAPEX DIRECT RAIL HAULAGE OPTION1 • Low Estimated Pre-Production Capex: ~A$35M • A$15M – Ore loadout crusher rail siding facility, road works • A$13M – Camp, Admin, Mining Infrastructure • A$7M - Contingencies 1 REFER TO ASX RELEASE DATED 30 MAY 2024 18
Slide 19: Greater Duchess Outlook
Greater Duchess Copper Gold Project OUTLOOK • High potential for new discoveries in first pass Work Program H1 CY'24 H2 H1 CY'25 H2 H1 CY'26 H2 H1 CY'27 H2 H1 CY'28 H2 H1 CY'29 H2 drilling of VTEM conductors commencing this Exploration Drilling month Scoping Study • Growing open pit mineral resource
Slide 20: Office Contact
Office Contact 78 Churchill Avenue P +61 (0) 8 6500 3236 SUBIACO WA 6008 E info@carnabyresources.com.au
Slide 21: Appendix 1: Mineral Resource Inventory
Appendix 1 Carnaby Resources Limited Greater Duchess Copper Project - Cu Equivalent Cut-off1 Mineral Resource Inventory as at 27 October 2023 Indicated Inferred Total COG Deposit CuEq Cu Au CuEq Cu Au CuEq Cu Au CuEq Cu Au CuEq Cu Au CuEq Cu Au CuEq % Mt % g/t % t oz t Mt % g/t % t oz t Mt % g/t % t
Slide 22: Mount Hope (CNB 51-100%)
Mount Hope (CNB 51-100%) HIGH POTENTIAL FOR ADDITIONAL DISCOVERIES1 • Consolidation of tenure around the Mount Hope mining lease allows for optimal development and exploration of the camp scale IOCG mineralised footprint. • >5km strike of the Mount Hope IOCG corridor with strong potential for direct
Slide 23: Strelley Gold & Lithium Project (CNB 80-100%)
Strelley Gold & Lithium Project (CNB: 80-100%) MALLINA BASIN – PILBARA WA Strelley Gold Corridor • RC drilling commencing next week at Mount Grant targeting undrilled gold targets as part of WA government EIS. • 70 km NE of De Grey Mining’s (ASX: DEG) Hemi Gold Deposit ❖ 236Mt @ 1.3g/t for 9.5Moz1 •
Slide 24: Malmac Project (CNB 100%)
Malmac Project (CNB:100%) COPPER AND LITHIUM ANOMALIES Salvation Copper Prospect Discovery • 3 km long by 1 km wide zone of highly anomalous copper in rock chip and soil geochemistry. • Maximum rock chip results: • 1.2% Cu pXRF • 0.6% Cu Assay • Little-known outcrop of pillow basalt, potentially equ
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