What is the goal of the new drilling program at Carnaby Resources (ASX:CNB)?

Carnaby Resources has commenced a 3,000-metre Reverse Circulation (RC) drilling program at its Greater Duchess Project in Queensland to test high-priority extensions of known mineralisation.

Why is Carnaby Resources (ASX:CNB) accelerating work at the Greater Duchess Project now?

The company is capitalising on momentum following the delivery of a Pre-Feasibility Study (PFS) in March 2026. By immediately launching this 3,000-metre program, management is signalling a "rapid pivot" toward a Definitive Feasibility Study (DFS) and eventual production.

What are the key drilling targets at the Trek 1 and Trek 2 prospects?

Drilling at Trek 2 will chase extensions of a previous standout intercept of 18m @ 5.0% Copper Equivalent (CuEq). At Trek 1, crews are investigating lateral extensions and "footwall repetitions" based on high-grade results of 6m @ 12.6% CuEq.

What does "Copper Equivalent" (CuEq) mean for Carnaby Resources investors?

Copper Equivalent is a metric used to express the combined value of different metals—in this case, copper and gold—as a single copper percentage.

What are the main risks for Carnaby Resources (ASX:CNB) after this news?

As with all junior explorers, the primary risk is "assay risk"—the possibility that new drill results do not replicate the high grades of previous holes. While the targets are high-priority, there is no guarantee that extensions at Inheritance or Trek Central will contain economic mineralisation.

What is the significance of the "Inheritance" and "Trek Central" targets?

The Inheritance prospect will be tested for "down-plunge" potential, which looks for mineralisation that continues deeper underground. Trek Central is a structural target located between existing finds; successful hits here could prove that separate mineralised zones are actually connected. This "connectivity" is a major bull case for the stock, as it would significantly increase the overall scale of the Greater Duchess Project.

Carnaby Resources starts drilling at Greater Duchess Project

Written by Mahathir BayenaPublished Apr. 21 2026

Carnaby Resources (ASX:CNB) mobilised for a 3,000-metre reverse circulation drilling programme at its flagship Greater Duchess Project in Mount Isa, Queensland.

The campaign follows the recent delivery of a pre-feasibility study in March, signalling a rapid pivot towards a definitive feasibility study and full-scale project development.

The primary objective of this programme is to test high-priority extensions at the Trekelano area, where the company has recently unearthed a string of exceptional high-grade results.

The drilling is specifically designed to chase extensions at the Trek 2 prospect, which previously yielded a standout intercept of 18m @ 5.0% CuEq.

Additionally, crews will investigate lateral extensions and footwall repetitions at Trek 1, building on previous intersections of 6m @ 12.6% CuEq.

The programme also includes high-stakes drilling at the Inheritance prospect to target its down-plunge potential, alongside testing the Trek Central structural target.

Managing Director Rob Watkins noted that these high-grade hits warrant immediate follow-up to expand the known resource footprint.

The latest exploration push underscores the company's commitment to unlocking the full value of the Greater Duchess mineralised system as it establishes a clear pathway towards production in one of Australia’s premier copper-gold provinces.

At the time of reporting, Carnaby Resources’ share price was $0.50.