Carnaby Resources Limited has disclosed promising drill assay results from its Trekelano Project situated within its broader Greater Duchess Copper Gold Project in the Mount Isa region of Queensland. The initial phase of a roughly 3,400‐meter drilling program has confirmed robust high-grade copper and gold mineralisation beneath the historic Inheritance open pit. Notable drill results include a 3‐meter intersection at 1.8% copper and 0.2 grams per tonne gold at 159 meters, and a striking 41‐meter interval averaging 2.3% copper and 0.5 grams per tonne gold at 169 meters. Additional intersections from a second drill hole recorded 29 meters at 1.2% copper and 0.5 grams per tonne gold, with a sub‐interval of 12 meters grading 2.1% copper and 0.9 grams per tonne gold. The results confirm significant true widths—up to 50 meters—of high-grade mineralisation and unveil a substantial exploration upside, as the mineralised zone remains open at depth to the south. This aligns with historical drill results from vertical holes drilled from the bottom of the open pit, highlighting a continuity that could add material open-pittable inventory to the project. Drilling remains active not only to enhance the Mineral Resource estimate but also to support ongoing geotechnical and metallurgical testing, which are integral to the Pre-Feasibility Study targeted for completion in H2 2025. The company also noted that binding tolling and offtake agreements have been signed with a major global commodity player, underscoring the strategic potential of the project. On the bullish side, the strong assay results and confirmed significant true widths bolster confidence in the project’s ability to develop a high-grade copper and gold deposit. The integration of Trekelano into the pre-feasibility study, combined with the company’s tight capital structure and strong cash position, may drive further investor interest and development progress in the upcoming months. Conversely, on the bearish side, some uncertainty remains as the project’s success is contingent upon the completion of the ongoing 3,400-meter drilling program and the finalisation of the Trekelano acquisition, which is subject to regulatory conditions. Delays or challenges in meeting key milestones or in the permitting and environmental de-amalgamation processes could temper near-term enthusiasm and affect projected timelines. Overall, the new drill results and continued exploration efforts position Carnaby Resources Limited’s Greater Duchess Copper Gold Project as a narrative to watch for emerging opportunities in the copper-gold sector.