Carnaby Resources (ASX:CNB) said final results from a recently completed drill program at the Greater Duchess project in Queensland confirmed the lode position at shallow depths, according to a Thursday filing with the Australian bourse.
New results include 20 meters at 0.6% copper equivalent; 12 meters at 2.3% copper equivalent; 20 meters at 2.2% copper equivalent; and 42 meters at 0.7% copper equivalent, per the filing.
Meanwhile, new drilling results from the Trek 1 discovery include 88.6 meters at 1.2% copper equivalent; 39 meters at 0.6% copper equivalent; 39 meters at 0.7% copper equivalent; and 38 meters at 1.9% copper equivalent.
Evolution Mining (ASX:EVN) in July agreed to acquire Carnaby in a deal that values the company at around AU$213 million.
"We are now focused 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," said Carnaby Managing Director Rob Watkins.
Shares of Carnaby and Evolution Mining both rose around 1% in recent Thursday trade.