An RC drill rig is at work for the first time in 14 years at the once-lucrative Tick Hill gold site under new owner Carnaby Resources.

The company plans to conduct about 10,000m of drilling at the site by the end of 2019, hot on the heels of its work 4km north at Mount Birnie.

“It’s pretty exciting right now,” managing director Rob Watkins said.

“…It has taken probably the best part of two years from the initial concept of amalgamating the ground around Tick Hill and then creating Carnaby and now getting a drill rig onto Tick Hill for the first time.”

With gold prices at a high, Mr Watkins said the potential prize was huge if and when Carnaby found the ore body extension it was seeking.

The company is applying new technology in its search.

It has already carried out SAM (Sub Audio Magnetic) surveys, which Mr Watkins said had helped in highlighting the structure in the area.

“We think there’s a north-west structure that joins up to Tick Hill from Mount Birnie,” he said.

The company recently completed six reverse circulation drill holes at Mount Birnie, intersecting significant Iron Oxide Coper Gold (IOCG) mineralisation.

Carnaby says the mineralisation and alteration style there is identical to large-scale IOCG deposits in the Mount Isa district such as Mt Elliot, Osborne and Ernest henry.

Tick Hill, 110km south-east of Mount Isa, produced 511,000 oz of gold, with an ore grade of 22.5g/t, when it was mined by MIM Holdings from 1991-95.

MIM only mined to 235m and the area has been largely unexplored for the past 20 years.

Carnaby’s Tick Hill gold project and broader exploration package covers 323q km within the Mount Isa Inlier.

Exciting times as Tick Hill set to reveal its potential