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Carnaby Resources Ltd. ( (AU:CNB) ) has provided an update.
Carnaby Resources Ltd. has announced significant exploration drill results from its Greater Duchess Project in Queensland, highlighting the extension of the Trek 1 prospect. The new drill results demonstrate the continuity of high-grade mineralization, with the Trek 1 extension intersected in multiple high-grade intersections over 300 meters down dip, remaining open in all directions. The company plans to commence a 5,000-meter drilling program to further explore this extension, which could enhance the Mineral Resource Estimate and support ongoing feasibility studies. These developments could potentially strengthen Carnaby’s position in the copper and gold mining sector and have implications for stakeholders involved in the project.
The most recent analyst rating on (AU:CNB) stock is a Buy with a A$0.87 price target. To see the full list of analyst forecasts on Carnaby Resources Ltd. stock, see the AU:CNB Stock Forecast page.
More about Carnaby Resources Ltd.
Carnaby Resources Ltd. is a company operating in the mining industry, focusing on the exploration and development of copper and gold deposits. The company is engaged in the Greater Duchess Copper Gold Project located in the Mt Isa region of Queensland, which includes several Iron Oxide Copper Gold (IOCG) deposits. Carnaby Resources is currently working on a Pre-Feasibility Study for this project, with a completion target in early 2026, and has signed agreements with Glencore International AG.
Average Trading Volume: 947,886
Technical Sentiment Signal: Sell
Current Market Cap: A$104.9M
See more insights into CNB stock on TipRanks’ Stock Analysis page.