CNB announces Farm-in and Joint Venture with Rio Tinto

Carnaby Resources Limited (ASX: CNB) and Rio Tinto Exploration Pty Ltd (RTX) have entered a Farm-in and Joint Venture Agreement, representing a significant milestone for the Greater Duchess Copper-Gold Project in Mt Isa, Queensland. The collaboration brings a high-quality advanced exploration target, expanding the project's land position.

The Devoncourt Project includes the Wimberu Prospect, discovered by Rio Tinto in 2019, exhibiting IOCG-style intrusion-related mineralization within the Wimberu granite. Drilling has revealed a broad zone of elevated copper-gold mineralization associated with a magmatic hydrothermal breccia, with indications of high-grade mineralization. The expansion has added 838 km2 of tenure, marking a 77% increase. The partnership holds the potential for further exploration and resource expansion in the region.

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