Carnaby Resources Limited (ASX: CNB) is pleased to announce a decision by the Queensland Government Department of Resources that resolves the location of the Mount Hope Mining Lease (ML90240).
The boundary of the lease has been surveyed and recommended to move approximately 90m south to the original peg location, opening two key target areas for drilling.
These include the southwest extension of the NE Vein at Mount Hope Central and the high grade down dip and down plunge continuations of the NW Vein at Mount Hope Central.
Results from approximately 20 drill holes remain outstanding and an extensive drill out of the Mount Hope Central prospect with multiple drill rigs is expected to begin shortly.
The resolution of the boundary removes any uncertainty and risk, and allows the Company to focus on extending the rapidly growing high grade Mount Hope Central discovery.
The Company is aiming for a maiden Mineral Resource for the Greater Duchess Copper Gold Project in Q2 2023 and is simultaneously completing scoping and commencing pre-feasibility studies.