Cannindah (ASX:CAE) Advances Resource Expansion with High-Grade Copper-Gold Intercepts

CAE

4 min read | June 10, 2026 11:38 AM AEST | By Sonal Goyal

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Cannindah (ASX:CAE) Advances Resource Expansion with High-Grade Copper-Gold Intercepts — Image source: Company Update

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Highlights

Drill hole 26CRC017 extended the Southern Shoot by 50 metres and returned 26m at 1.29% CuEq from 192m.

The Southern Shoot now spans more than 150 metres of strike and over 200 metres of vertical depth, remaining open in multiple directions.

Northern Shoot drilling identified wider mineralised zones and high-grade copper-gold intervals beyond previous resource interpretations.

Cannindah has completed 31 of 33 planned RC drill holes, with assay results received for 26 holes to date.

Recent drilling results are expected to support the Mineral Resource Estimate upgrade scheduled for Q3 2026.

Cannindah Resources Ltd (ASX:CAE) has reported additional encouraging drilling results from its Cannindah Breccia Deposit, with the latest program continuing to expand both the Southern and Northern ore shoots. Recent drilling has significantly extended the high-grade Southern Shoot, while new results from the Northern Shoot have identified wider mineralised zones and additional high-grade intersections. The outcomes are expected to contribute to the company's planned Mineral Resource Estimate (MRE) upgrade in the third quarter of 2026.

As part of its ongoing 2026 resource expansion initiative, the company has completed 31 of the 33 planned RC drill holes at Cannindah Breccia. Assay results are now available for 26 drill holes, with further assays expected as exploration work continues.

Southern Shoot Expansion Continues

The latest drilling campaign has delivered another milestone for the Cannindah Breccia Deposit, with drill hole 26CRC017 extending and expanding the Southern Shoot by an additional 50 metres along strike. The hole returned-

26m @ 1.29% CuEq1 (0.27g/t Au and 0.92% Cu) from 192m within: 58m @ 0.68% CuEq (0.16g/t Au and 0.47% Cu) from 168m to EOH

Although drilling was halted before reaching the intended target depth due to ground conditions, the hole concluded within mineralisation. An additional drill hole is currently being completed adjacent to 26CRC017 to test the full extent of the mineralised structure.

The Southern Shoot is now recognised as a clearly defined second ore shoot, demonstrating continuity across more than 150 metres of strike, over 200 metres of vertical depth, and widths frequently exceeding 100 metres. It remains open at depth and along strike.

Previous High-Grade Intersections Support Continuity

The latest results add to a series of notable intersections previously reported from the Southern Shoot. These include –

54m @ 1.61% CuEq (0.95g/t Au and 0.69% Cu) from 204m (26CRC011),
22m @ 2.63% CuEq (1.80g/t Au and 0.99% Cu) from 32m (25CRC001),
60m @ 1.94% CuEq (0.59g/t Au and 1.26% Cu) from 48m (25CRC002),
44m @ 2.78% CuEq (2.30g/t Au and 0.69% Cu) from 214m (26CRC016),
26m @ 1.54% CuEq (1.40g/t Au and 0.33% Cu) from 260m (26CRC015),

Northern Shoot Delivers Wider Mineralised Zones

Recent drilling within the Northern Shoot focused on data gaps in the existing MRE. Current program returned encouraging results wider than earlier interpretations and revealed new high-grade zones.

Among the standout results were-

26m @ 1.64% CuEq (0.24g/t Au and 1.28% Cu) from 112m within: 128m @ 0.61% CuEq (0.21g/t Au and 0.39% Cu) from 38m (26CRC030)
10m @ 3.95% CuEq (0.59g/t Au and 3.14% Cu) from 38m within: 62m @ 0.79% CuEq (0.14g/t Au and 0.61% Cu) from 30m (26CRC029)
6m @ 4.93% CuEq (5.40g/t Au and 0.44% Cu) from 54m within: 24m @ 1.38% CuEq (1.48g/t Au and 0.15% Cu) from 44m (26CRC031)

These results exceed those in the current MRE and are anticipated to support resource growth in the upcoming upgrade.

Exploration Focus Expands Beyond Current Resource Area

The Cannindah Breccia is a structurally controlled breccia system associated with a fault structure extending up to three kilometres in strike length. However, drilling to date has concentrated on approximately 700 metres strike length.

Future exploration will focus on extending the Southern Shoot, testing deeper mineralisation, and systematic prospecting along the strike length of the broader fault.

Metallurgical test work is also underway and will be incorporated into the planned 2026 MRE update.

CAE shares were trading 6.06% higher at AUD 0.035 per share at the time of writing on 10 June 2026.

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