Carnaby Resources Limited has updated its Mineral Resource Estimate for the Greater Duchess Copper Gold Project in Mount Isa, Queensland, lifting total inventory by 10% compared to January 2026.

The updated project inventory stands at 30.8 million tonnes at 1.6% copper equivalent for 482,800 tonnes of contained copper equivalent, up from 441,000 tonnes reported earlier in the year.

The increase was driven by a 47% upgrade at the Trekelano prospect, reaching 7.1 million tonnes at 1.8% copper equivalent for 132,000 tonnes. That result marks a substantial increase from 89,700 tonnes, following a 2026 drilling program.

Most new tonnage at Trekelano stems from the Trek 1 underground deposit, specifically the Main Lode breccia zone and Footwall Lode. Trek 1 now hosts an underground resource of 1.0 million tonnes at 3.5% copper equivalent, with 86% classified as inferred.

Carnaby will evaluate this material through scoping-level studies running parallel to the ongoing Greater Duchess Feasibility Study.

“The updated Mineral Resource Estimate (MRE) for the Trek 1 and Trek 2 deposits at Trekelano, based on the successful drilling program in 2026, has resulted in a 10% increase in the Greater Duchess Copper Gold Project Mineral Resources to 482,800t CuEq. Carnaby is now focussed on delivering the Greater Duchess project into development through what we believe is the superior risk weighted pathway under the proposed acquisition by Evolution Mining.”

— Rob Watkins, Managing Director

Resource modeling used a 0.3% copper envelope, applying a 0.5% copper equivalent cut-off grade for potential open pit extraction above 100 metres reduced level and a 1.0% cut-off grade for underground potential below that depth.

Carnaby secured 100% ownership of the Greater Duchess tenements in October 2025 by acquiring the remaining 17.5% interest from Latitude 66 Limited for A$6 million in cash and shares.

Read the full announcement: Trekelano Mineral Resource Update