Carnaby Resources: “Game-changing” 7m @ 9.3% CuEq extends Trek 1 lode 150m down-plunge

22 September 2025 | Mt Isa, QLD – Carnaby Resources (ASX:CNB) has reported a very high-grade hit from its first exploration hole at Trek 1 (Trekelano): 7m @ 9.3% CuEq from 415m, including 5m @ 12.5% CuEq, confirming a ~150m down-plunge extension to the historical orebody. The intersection lies outside the current MRE and remains open at depth and along strike; a diamond tail is underway to probe further down-plunge, with another RC hole testing up-plunge.

Trek 1 was mined underground between 1911–1943 to ~245m depth at an average 10.9% Cu and 2g/t Au. Current work streams feed into the Greater Duchess PFS (H2 CY2025), supported by binding tolling/offtake with Glencore. The Trekelano MRE stands at 5.2Mt @ 1.6% CuEq, including the Trek 1 Inferred component of 1.5Mt @ 2.0% CuEq; Carnaby is advancing geotech, metallurgy and resource drilling to update and re-classify.

MD Rob Watkins called the result “material” and “game changing,” noting the broader Trekelano system remains under-explored with strong scope for growth along the mineralised shear corridors.