Carnaby Resources Limited (ASX: CNB) Announces Drilling at Trekelano
Upcoming Drilling Program
Carnaby Resources Limited (ASX: CNB) has announced the initiation of a maiden drilling program at the Trekelano project. The 3,400-metre drilling is set to commence in February 2025, targeting high-grade deposits based on historical results that include significant copper and gold intersections.
Pre-Feasibility Study Progress
The company’s ongoing Pre-Feasibility Study (PFS) is advancing, with plans to start mining and civil engineering studies in the first quarter of 2025. The Trekelano acquisition is expected to contribute significantly to the PFS, which is projected for completion in the third quarter of 2025.
Exploration and Resource Updates
Carnaby has 1,442 outstanding assays from recent exploration efforts, hindered by early wet season rains. The company aims to complete updates on Mineral Resources and integrate exploration findings into the PFS.
Managing Director Rob Watkins expressed enthusiasm about the upcoming drilling program, stating, “We are highly excited about the maiden drilling program at Trekelano which will be the first drilling at the project since 2012. The Greater Duchess Project, including Trekelano, has enormous and demonstrable exploration upside, presenting a clear pathway to a low Capex development.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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