Carnaby Resources Limited has advanced its exploration efforts at the Greater Duchess Copper Gold Project in Mt Isa, Queensland, reporting a series of encouraging drill results and geophysical findings. A significant offhole electromagnetic (EM) conductor was identified at Trekelano, located down plunge of the main Inheritance orebody. With two drill rigs poised to restart, the company is now targeting high-priority extensions at both the Inheritance and Trekelano Mine areas, and drilling is set to commence on the newly identified targets. The announcement outlines detailed assay results from numerous prospects across the project. At Trekelano, drill hole CBGT007 recorded intervals such as 20m at 1.3% copper equivalent (CuEq) (inclusive of an 11m section at 2.1% CuEq) and additional intervals of 24m at 1.1% CuEq. Similar technical detail emerged from the Burke & Wills Prospect with drill holes reporting up to 7m at 3.9% CuEq and from geotechnical tests at Lady Fanny and Mount Hope Central, where intersections like 9m at 2.0% CuEq have been reported. Downhole EM surveys have been completed using industry standard parameters, with results indicating a large offhole conductor modeled as a 50m x 70m EM plate—suggesting that the conductivity response is largely due to a high abundance of chalcopyrite rather than pyrrhotite. In addition to these drill results, the announcement highlights binding tolling and offtake agreements with Glencore International AG, strong technical protocols for sampling and assay practices, and a robust cash position that supports continued exploration and development. The company is also finalizing aspects of its acquisition of the Trekelano Prospect, which will secure 100% ownership and further consolidate its portfolio in the region. From a market sentiment perspective, bullish investors can view these results and the technical rigor applied as indicative of strong potential for a growing high-grade copper-gold asset. The discovery of a large offhole conductor, impressive drill intersections, and strategic offtake agreements serve to enhance the upside potential in this established mining district. On the other hand, bearish sentiments may arise from the inherent risks in early-stage exploration—such as the need for further drill confirmation of the mineralisation continuity and the developmental uncertainties tied to preliminary resource estimates. As the company continues its drilling program and works towards completing a Pre-Feasibility Study in the second half of 2025, Carnaby Resources Limited is positioning itself as a potential player in the development of a significant baseload copper and gold deposit, with technical milestones providing a roadmap for both short-term exploration success and long-term value creation.