Business

Carnaby (ASX: CNB) stock price surges 33% with lithium update

Image Source: Getty Images

NS Carnaby Resource Co., Ltd. (ASX: CNB) Stocks are off for today’s race, rising 33% in early afternoon trading.

Below, we will look at the latest soil sampling results from the ASX Resource Explorer.

What lithium results have been announced?

Carnaby’s share price has skyrocketed after the company reported Promising lithium results A 100% owned Big Hill project in the Marina Basin of Western Australia.

According to the release, soil sampling results revealed a 1.5km x 0.5km lithium soil anomaly. Soil results are back with up to 179 ppm lithium.

Carnaby pointed out that the project is close to the “big world class” Lithium mines of Pilgangora and Wojina. Big Hill soil anomalies are said to be “consistent with discrete magnetic height units” on major fault structures. The geological setting seems to be similar to the lithium deposits of Pilgangora and Wozina.

Rob Watkins, Managing Director of Carnaby, commented on the results, saying:

We are in Big Hill’s unexplored lithium and gold elephant land and are looking forward to excavating the first path of the Big Hill soil anomaly as soon as possible. We are very excited about the prospect of gold in Pilbara, but we cannot ignore this kind of walk-up lithium drill target that appeared in Big Hill.

Carnaby has considerable exposure to energy metals in the Duchess’ copper gold project, and lithium is a future long-term metal that must be explored in conjunction with gold exploration in Pilbara, Western Australia. I think.

Carnaby said the heritage approval needed to begin drilling at Big Hill has been completed.

Carnaby Stock Price Snapshot

Despite today’s daytime leap, Carnaby’s share price remains down 18% in 2021. All normal indexes (ASX: XAO) increased by 10% year-on-year.

Over the past month, Carnaby’s share has increased by 8%.

Carnaby (ASX: CNB) stock price surges 33% with lithium update

Source link Carnaby (ASX: CNB) stock price surges 33% with lithium update

Related Articles

Back to top button