Carnaby Resources Reports New Copper-Gold Drill Hits at Trek 1 in Queensland
Carnaby Resources announced new copper-gold drill results from its Trek 1 prospect in Queensland's Greater Duchess project. Broker Euroz Hartleys maintains a Speculative Buy rating and AU$0.80 price target, citing development-ready shallow intercepts that may reduce mining costs. Significant results include 20 meters at 1.4% copper-equivalent, with a notable interval of 1 meter at 0.6% copper and 1 g/t gold.
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Carnaby Resources has reported new copper-gold drill hits at its Trek 1 prospect, part of the Greater Duchess project in Queensland. Euroz Hartleys has retained its Speculative Buy rating and AU$0.80 price target, noting that the shallow nature of the intercepts and their meaningful widths could lower future mining costs and simplify development.
The reported results include up to 20 meters at 1.4% copper-equivalent, featuring an interval of 1 meter grading 0.6% copper and 1 g/t gold. The consistency of 15-20 meter-wide zones at higher grades further supports the development potential.
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