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An announcement from Carnaby Resources Ltd. ( (AU:CNB) ) is now available.
Carnaby Resources Ltd. announced a significant drill result from its first exploration hole at the Trek 1 site within the Greater Duchess Project. The drill intersected high-grade copper and gold mineralization, extending the known orebody by 150 meters and indicating potential for further resource expansion. This development is seen as a transformative opportunity for the company, enhancing its prospects in the underexplored Trekelano Mining Leases and potentially increasing the project’s mineral resource estimate.
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 copper and gold exploration and development. The company is engaged in the Greater Duchess Copper Gold Project in Queensland, which includes several significant deposits and is currently undergoing a Pre-Feasibility Study. Carnaby has a strong management team, a tight capital structure, and has signed agreements with Glencore International AG.
Average Trading Volume: 510,626
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$73.08M
For an in-depth examination of CNB stock, go to TipRanks’ Overview page.