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Highlights
- Cannindah Resources has obtained encouraging outcomes from the assay results of Hole 13 from its Mt Cannindah project.
- Hundreds of metres of high-grade copper intercepts were achieved along with an excellent 24m gold hit from the surface.
- Hole 13 has expanded the existing resource area and generated a good deal of exploration advantage for the Mt Cannindah project in the southwest, as per the update.
Cannindah Resources Limited (ASX: CAE) ASX listed Explorer and resource developer, has provided an important update regarding its Mt Cannindah project. The company has received motivating outcomes from the project's next set of completed assay results of Hole 13 (22CAEDD013).
As per the update the company has achieved hundreds of metres of high-grade copper intercepts along with an excellent 24m gold hit from the surface. The results pertain to the currently undergoing drilling program of the project situated south of Gladstone near Monto in central Queensland.
As per the company, hole 13 has not only likely extended the existing resource area but also created a great deal of exploration advantage for the Mt Cannindah project in the south-west.
If CAE could link known mineralisation with new intercepts from CAE hole 13, the new understanding obtained would make a good prospect to develop the Mt Cannindah resource and realise the geological units to the south and south-west.
The results of CAE hole # 13 successfully produced the results originally proposed for the hole.
Following are the major highlights.
Data source: CAE update
© 2022 Kalkine Media®
Commenting on the results, the company's Executive Chairman, Tom Pickett said that the hole stretches the mineralisation to the southwest. It enhances the size of the project and opens a larger exploration area.
He further said,
CAE shares were trading at AU$0.210 apiece on 4 October 2022.