Carnaby Resources has uncovered a significant new shallow mineralised shoot, the Miniboom Lode, at its Mount Hope Central site within the Greater Duchess Project, delivering a standout 232m at 1.3% copper equivalent from surface.
- Miniboom Lode yields 232m @ 1.3% CuEq from surface
- High-grade zone includes 65m @ 2.9% CuEq from 25m depth
- Discovery adjacent to planned Mount Hope Central open pit
- Additional drilling underway to define extent and impact
- Trek 2 prospect shows resource growth potential with 53m @ 0.4% CuEq
Unexpected High-Grade Discovery at Mount Hope Central
Carnaby Resources (ASX:CNB) has stumbled upon a new high-grade mineralised shoot dubbed the Miniboom Lode at its Mount Hope Central deposit, part of the Greater Duchess Copper Gold Project in Queensland. The discovery came from a vertical reverse circulation drill hole (MHWB007) initially targeting a water bore, which instead intersected a remarkable 232 metres at 1.3% copper equivalent (CuEq) from surface, including a standout 65 metres at 2.9% CuEq starting just 25 metres downhole.
This shallow, high-grade intercept sits on the edge of the planned Mount Hope Central Ore Reserve open pit, positioning it as a potentially valuable extension to the existing resource. However, the true width of the mineralisation remains uncertain due to the drill hole intersecting the lode at an acute angle, and the strike length is currently estimated to be less than 70 metres. Carnaby is actively drilling to better define the geometry, grade continuity, and overall significance of this shoot.
Geological Context and Historical Intrigue
The Miniboom Lode appears to be a newly identified dilational bend within the Boomerang Lode structure, where the strike shifts from southeast to northeast. This structural nuance seems to have created a high-grade focus similar to other known zones within the Boomerang Lode system. Interestingly, the top 15 metres of MHWB007 intersected mineralised mullock, suggesting that shallow mining may have occurred historically around the turn of the 20th century or in the late 1960s to early 1970s, before being backfilled with waste from the main Boomerang Lode pit. This historical activity adds a layer of complexity to interpreting the near-surface mineralisation.
The mineralisation itself consists of a 3-metre oxide zone near surface, followed by a 49-metre transitional quartz vein lode rich in chalcocite and chalcopyrite, visually mirroring the high-grade apex zones of the Boomerang Lode. Below this lies a substantial 162-metre interval of fresh rock chalcopyrite mineralisation, all pointing to a robust copper-gold system.
Trek 2 Prospect Shows Resource Growth Potential
Alongside Miniboom, Carnaby reported encouraging results at the Trek 2 prospect with drill hole CBRC068 intersecting 53 metres at 0.4% CuEq from 182 metres, including 6 metres at 0.7% CuEq. This intercept lies about 60 metres down dip from a previously reported 35 metres at 2.9% CuEq, suggesting the higher-grade mineralisation plunges further northeast and the resource could expand with ongoing drilling.
The company plans to update its Mineral Resource Estimate (MRE) in the coming months, which will inform a re-optimisation of the Trek 2 open pit. For now, the existing Ore Reserve pit design remains the baseline for the current Feasibility Study.
Feasibility Study Progress and Project Timeline
Managing Director Rob Watkins emphasised that the Miniboom discovery underscores the exploration upside at Greater Duchess, where structurally complex quartz vein lodes create multiple mineralised orientations that can be easy to miss with targeted drilling. He noted that the water bore hole’s lucky interception of Miniboom highlights the potential for further high-grade shoots to be uncovered.
Carnaby remains on track to complete the Greater Duchess Project Feasibility Study by mid-2026, ahead of a final investment decision (FID). The company targets first ore production from open pit mining at Trekelano in the second half of 2026, supported by binding tolling and offtake agreements with Glencore International AG.
With a solid cash position of A$13 million and a proven management team, Carnaby is drilling out recent discoveries at Trek 1, Trek 2, and Mount Hope, while also advancing scoping studies for an underground project at Trek 1 slated for completion in H2 2026.
Bottom Line?
Miniboom’s proximity to the planned pit edge could boost the Greater Duchess project’s scale, but ongoing drilling will be critical to confirm its true size and economic impact.
Questions in the middle?
- Will further drilling reveal a larger strike extent for the Miniboom Lode beyond the current 70m estimate?
- How might the Miniboom discovery influence the final pit design and economics in the upcoming Feasibility Study?
- Could historical shallow mining and backfill complicate resource modelling near surface at Mount Hope?