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The company said that while the true width of the mineralisation isn't definitively known, "drilling intersection angles are generally good and are a good representation of the thickness of the mineralised zones".
Further results are awaited and drilling is continuing at Lady Fanning and Nil Desperandum, both part of the overall Greater Duchess exploration project near Mount Isa.
In addition, preparations have been made for an "extensive" maiden drill program at the Mount Hope prospect.
Carnaby started the current quarter with A$23 million cash.
Shares in Carnaby were up 1.4% to $1.07 in morning trade, capitalising the company at about $153 million.
