Carnaby Resources Ltd. · ASX:CNB
Carnaby Resources — RIU Explorers Conference 2024
23 slides from Carnaby Resources's conference presentation, February 2024
Slide 1: Unlocking a Significant Australian Copper-Gold Discovery
UNLOCKING A SIGNIFICANT AUSTRALIAN COPPER-GOLD DISCOVERY RIU Explorers Conference, February 2024
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 Advancing a modern Australian copper exploration company
Slide 4: Corporate Overview
Corporate Overview STRUCTURED FOR EXPLORATION SUCCESS CORPORATE STRUCTURE1 Shares on Issue 162.8M EXPERIENCED BOARD Share Price $0.57 Peter Bowler Unlisted Options 4.42M Non-Executive Chairman BROKER COVERAGE Market Cap $93M Rob Watkins Cash @ 31 December 2023 $18.4M Managing Director MAJOR SHAREHOL
Slide 5: 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 442 km2 tenements 1,921 km2 tenements MALMAC COPPER AND LITHIUM PROJECT 621 km2 tenements RIU EXPLORERS CONFERENCE 2024 1
Slide 6: Greater Duchess Project
GREATER DUCHESS PROJECT Situated in a Tier 1 base metal district preparing for a copper driven revival.
Slide 7: Greater Duchess Project
Greater Duchess Project QUALITY TARGETS IN A WORLD CLASS MINERAL FIELD Large 1,921 km2 tenement package1 • Centrally located within the Mount Isa Inlier a world class mining jurisdiction with multiple mines and processing facilities including Mt Isa Smelter 70 km NW. • Surrounded by prolific Iron Ox
Slide 8: Greater Duchess Copper Gold Project
Greater Duchess Copper Gold Project HIGHLY PROSPECTIVE IRON-OXIDE COPPER CORRIDOR Three significant gold discoveries in last two years Mount Hope - 7 September 2022 Discovery 10 km north of Lady Fanny on acquired granted mining lease where there was no recorded historical drilling. Chalcus Lode disc
Slide 9: Greater Duchess Copper Gold Project
Greater Duchess Copper Gold Project MAIDEN INTERIM MINERAL RESOURCE ANNOUNCED IN OCTOBER 20231 Greater Duchess Copper Gold Project October 2023 Mineral Resource Inventory High grade and quality 315kt CuEq Inventory 0.5% CuEq2 Cut-off for Pit Potential, 1.0% CuEq2 for Underground Potential Tonnes Cu
Slide 10: Greater Duchess Copper Gold Project
Greater Duchess Copper Gold Project SCOPING STUDY UNDERWAY Targeting completion by Q1 2024 Aims; • Evaluate all potential future scenarios for mine development and process route options, including standalone development to utilising third party processing facilities as a low Capex start up including
Slide 11: Metallurgical Results
Metallurgical Results EXTREMELY HIGH-QUALITY ORE AT ALL THREE DEPOSITS MOUNT HOPE, NIL DESPERANDUM AND LADY FANNY FRESH TRANSITIONAL TRANSITIONAL MINERALISATION TYPE Test work highlighted: CHALCOPYRITE CHALCOPYRITE CHALCOCITE Mount Hope COPPER RECOVERIES 97.5% to 99.3% 97.4% to 99.2% 91.6% to 93.8%
Slide 12: Mount Hope (CNB:100%)
Mount Hope (CNB:100%) HIGH POTENTIAL FOR ADDITIONAL DISCOVERIES1 Focus to date has been on the initial discoveries at Mount Hope Central and North and extending those at depth • Drone magnetic survey on 20m line spacing has highlighted several new untested magnetic high targets which are being evalu
Slide 13: Mount Hope Central (CNB:100%)
Mount Hope Central (CNB:100%) AN EXCEPTIONAL IOCG DEPOSIT1 • Excellent metallurgy – historically mined for quartz flux for the Mount Isa smelter in the 1960’s – early 1970’s. • Lodes have lengths of 200m to 300m, are 20m to 30m thick and defined over dip lengths exceeding 500m. • Completely open at
Slide 14: Chalcus Lode
Chalcus Lode MOUNT HOPE CENTRAL1 Chalcus Lode is blind to surface and only discovered in March 2023 • Discovery hole MHDD083 - 36m (TW~12m) @ 4.2% Cu, 0.5g/t Au • Recent results outside of the Mineral Resource include: • MHDD190W5 – 87m (TW~29m) @ 2.3% Cu, 0.5 g/t Au • MHDD192W2 – 71m (TW~28m) @ 1.6
Slide 15: Lady Fanny (CNB:82.5-100%)
Lady Fanny (CNB:82.5-100%) NO RECORDED DRILLING PRIOR TO CARNABY1 Significant recent drill results include: • LFRC212 • 23m (TW~11m) @ 3.3% Cu, 0.2g/t Au incl 13m (TW~6m) @ 5.3% Cu, 0.3g/t Au • Open down plunge to the North • LFRC255 • 4m (TW~2m) @ 6.9% Cu, 3.0g/t Au • Open down plunge to the North
Slide 16: Nil Desperandum (CNB:82.5%)
Nil Desperandum (CNB:82.5%) IP GEOPHYSICS AND GEOLOGY LED DISCOVERY1 Discovery hole NLDD044: • 41m @ 4.1% copper, 0.5 g/t gold from 247m Subsequent results include: • 31m @ 3.9% Cu, 1.0 g/t Au from 313m, • 26m @ 2.4% Cu, 0.3 g/t Au from 381m, • 24m @ 5.0% Cu, 1.3 g/t Au from 313m • Breccia shoot so
Slide 17: Duchess (CNB:82.5%)
Duchess (CNB:82.5%) BRAND NEW HIGH GRADE DISCOVERY1 Discovery hole DCRC006: • 10m (TW ~ 7m) @ 3.3% copper, 0.1 g/t gold from 146m • Completely open at depth RIU EXPLORERS CONFERENCE 2024 1 SEE ASX RELEASE DATED 2 FEBRUARY 2024 17
Slide 18: Rio Tinto Devoncourt Project
Rio Tinto Devoncourt Project NEW JV OPENS TIER 1 SIZED TARGET AT GREATER DUCHESS1 Wimberu Prospect • Maiden drill program is in progress with seven RC pre- collars completed, diamond tails to commence in Q1 CY24. • The first pre-collar drilled, WBRC001, intersected basement at 282m and encountered z
Slide 19: Huge Exploration Upside Remains at Greater Duchess
Huge Exploration Upside Remains at Greater Duchess • Structurally controlled orogenic mineralisation style typical of IOCG / ISCG deposits seen in the Cloncurry area (e.g., Ernest Henry, Eloise, Osborne). • Western tenure - Significant regional exploration upside along the newly defined 75 km Nil De
Slide 20: Strelley Gold & Lithium Project (CNB: 80-100%)
Strelley Gold & Lithium Project (CNB: 80-100%) MALLINA BASIN – PILBARA WA Strelley Gold Corridor • 70 km NE of De Grey Mining’s (ASX: DEG) Hemi Gold Deposit 236Mt @ 1.3g/t for 9.5Moz1 • Intrusion hosted “Hemi Style” gold mineralisation intersected in drilling at Strelley inc. 7m @ 2.8g/t Au inc 2m
Slide 21: 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
Slide 22: Office Contact
Office Contact 78 Churchill Avenue P +61 (0) 8 6500 3236 SUBIACO WA 6008 E info@carnabyresources.com.au
Slide 23: Appendix: Greater Duchess 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