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Highlights
- Cannindah Resources (ASX:CAE) shares gained 9.37% following new exploration results.
- Two new porphyry Cu-Mo-Au targets have been identified at the Mt Cannindah project.
- The Eastern and Southern Targets show high-grade mineralisation, with results up to 12.28% Cu, 9.94 g/t Au.
- Cannindah has prioritised these two targets for follow-up drill testing.
- The company aims to develop a 100–200Mt copper asset using advanced exploration techniques.
Cannindah Resources Limited (ASX:CAE) has announced promising new exploration results, driving a 9.37% increase in its share price to AUD 0.035 during early trading hours on 2 June 2025. The company has identified two new potential porphyry copper, molybdenum, and gold targets at its Mt Cannindah project in Queensland, based on recent surface rock chip sampling.
Two New Targets Set for Drilling at Mt Cannindah
Recent fieldwork has confirmed the presence of “pencil” porphyry-style systems—pipe-like mineralised bodies similar to major Australian deposits like North Parkes and Cadia Ridgeway. Rock chip results returned high-grade results, including 12.28% Cu, 9.94g/t Au, and 1.24% Mo, supported by high levels of key pathfinder elements, tellurium (Te), bismuth (Bi), tin (Sn), and tungsten (W).
This sampling has identified two compelling porphyry-style mineralisation targets, the Eastern and Southern Targets.
- Eastern Target was identified following the review of halo drill hole geochemistry and geology, which supported the anomalous copper results in the shallow drill holes spatially associated with a large area of skarn development on the major regional Kalpowar Fault and associated splays.
- Southern Target is defined by recent sampling and high-order coincident +500ppm Cu and +20ppm Mo historic soil results over a significant footprint of 1000m by 500m.
CAE Eyes 100–200 Mt Copper Asset at Mt Cannindah
Cannindah Resources Managing Director, Mr. Tom Pickett, stated that while the company has been actively drilling this year, it is also focused on expanding the scale potential of the Mt Cannindah project beyond the current 14.5 million tonne mineral resource area.
Recent analysis suggests the presence of multiple “pencil” porphyry targets within the project. The company’s strategic goal is to develop a copper asset in the 100–200 million tonne range, leveraging the site’s excellent infrastructure.
To achieve this, Cannindah is employing advanced extensional exploration techniques, including data science, geochemistry, geophysics, and mineral deposit modelling.
Cannindah has now prioritised the Eastern and Southern targets for follow-up drill testing, signalling potential for large-scale resource expansion. Meanwhile, surface sampling continues at the Dunno/Appletree prospects and along the Kalpowar Fault System.
