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Carnaby Resources Ltd. ( (AU:CNB) ) has provided an update.
Carnaby Resources Ltd. announced significant drilling results from the Greater Duchess Copper Gold Project, including new high-grade copper and gold discoveries at the Trek 1 prospect. Highlights include a shallow lode intersection of 6m @ 12.6% CuEq and an extension to the Main Lode with 25.5m @ 2.0% CuEq, advancing resource depth by 400 meters. These findings position Trek 1 as one of the highest-grade new copper discoveries in Australia and emphasize the strong potential for resource expansion. Further assay results are awaited, with additional drilling planned to commence in January 2026, reflecting ongoing growth opportunities for key stakeholders.
The most recent analyst rating on (AU:CNB) stock is a Buy with a A$0.76 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. operates in the mining industry, focusing on the exploration and development of copper and gold deposits. The company’s key asset is the Greater Duchess Copper Gold Project in Queensland, comprising extensive Iron Oxide Copper Gold deposits and boasting a Mineral Resource Estimate of 27Mt @ 1.5% CuEq. Additional gold projects and strong financial positioning support its strategic objectives.
Average Trading Volume: 852,366
Technical Sentiment Signal: Hold
Current Market Cap: A$111.8M
See more insights into CNB stock on TipRanks’ Stock Analysis page.