The three holes MHRC022, MHRC054 and MHRC056 were drilled on section to the IP anomaly with only MHRC022 intersecting copper sulphide mineralisation of 5m @ 0.4% Cu, 0.02g/t Au from 41m and 5m @ 0.3% Cu, 0.03g/t Au from 180m. The deepest hole drilled, MHRC054 intersected an intensely altered felsic /quartzite unit in the bottom of the hole. Preliminary 3D geological modelling suggests the Mount Hope North mineralised fault structures are yet to be intersected in the drill holes completed to date.

A diamond tail will shortly be completed on MHRC054 to test the fault structure extension and gain important structural information on fault and lithology orientations at the Gap target. The Gap IP anomaly remains a highly prospective target and persistence is required until the source of the IP chargeability anomaly is explained as potential mineralised structures could easily be located off section and in a different orientation. At the end of 2022, a total of six shallow RC holes were completed at the Burke & Wills Prospect targeting the southern extension of the outcropping turn of the century shallow workings which disappear under shallow alluvial cover to the south.

The new results include the highest grade intersection yet to be drilled at Burke & Wills with approximate true width results of 6.7% Cu and 1.2g/t Au intersected over 6m from 77m in hole BWRC030. Other results include the southern most hole drilled to date which intersected 5m @ 3.7% Cu, 0.5g/t Au from 80m in BWRC029. The Burke & Wills mineralisation forms a very consistent high grade, linear fault zone which dips moderately to the east.

High grade shallow drill results have been intersected over a strike length of 260m to date and mineralisation remains completely open along strike to the north and south, and at depth. Carnaby plans to continue step out drilling along strike and at depth to quantify the magnitude of the mineralisation intersected to date and incorporate it into a maiden mineral resource. Results from Burke & Wills Prospect are summarised below; BWRC030 6m @ 6.7% Cu, 1.2g/t Au from 77m Including 4m @ 9.7% Cu, 1.7g/t Au from 77m BWRC029 5m @ 3.7% Cu, 0.5g/t Au from 80m Including 3m @ 5.8% Cu, 0.7g/t Au from 80m.