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Highlights
- Wide gold zones have been located at Cannindah East, 500m away from the previous drilling at the Mt Cannindah Breccia zone.
- The most significant result includes 121 metres @ 0.5g/t Au and 41 metres @ 0.75 g/t Au in near surface argillised sericite pyrite altered porphyry.
- The latest two drillholes have several features which are evident in intrusive related porphyry systems similar to that drilled at the Mt Cannindah Breccia.
Cannindah Resources Limited (ASX: CAE) has reported wide gold zones at Cannindah East holes #21 and 22, which lie 500m east of previous drilling at the Mt Cannindah Breccia zone.
The drilling at Cannindah East aimed at conducting a state-of-the-art geochemical sampling by employing the latest QA-QC controls and gathering structural and geological information.
Major highlights from Hole 21 are-
- 121m @ 0.50 g/t Au,3g/t Ag (surface 0m-121m)
- Includes: shallow pyritic zone 15m @ 1.23 g/t Au , 6 g/t Ag, 4.9% S (11m-26m)
- which includes 8m @ 1.89 g/t Au,9 g/t Ag (16m-24m)
- zone 34m-37m: 3m @ 2.66 g/t Au up to 1m@ 6.2 g/t
- lower zone 12m @ 1.49 g/t Au,5.8 g/t Ag (84m-96m)
- includes 7m @ 2.08 g/t Au, 8.3 g/t Ag (85m-92m)
- Deeper high grade molybdenite in breccia at 172m-173m: 1m @ 0.49% Mo.
Major highlights from Hole 22 are-
- 41m @ 0.75 g/t Au, 3.1g/t Ag (surface 0m-41m)
- Includes 11m @ 1.3 g/t Au, 3.5 g/t Ag, (20m-31m)
- which includes 5m @ 2.04 g/t Au; 26m-31m, up to 1m@ 5.06 g/t
- lower zone (1) 3 m @ 3.14 g/t Au, 8 g/t Ag (155m-158m).
- lower zone (2) 3 m @ 2.45 g/t Au, 13.1 g/t Ag (201m-204m)
The company informed that the upper zone coincides with high IP conductivity with elevated gold zones with shallow depths, which would further guide drill testing of gold zones.
Major highlights from Hole 21 are-
- 121m @ 0.50 g/t Au,3g/t Ag (surface 0m-121m)
- Includes: shallow pyritic zone 15m @ 1.23 g/t Au , 6 g/t Ag, 4.9% S (11m-26m)
- which includes 8m @ 1.89 g/t Au,9 g/t Ag (16m-24m)
- zone 34m-37m: 3m @ 2.66 g/t Au up to 1m@ 6.2 g/t
- lower zone 12m @ 1.49 g/t Au,5.8 g/t Ag (84m-96m)
- includes 7m @ 2.08 g/t Au, 8.3 g/t Ag (85m-92m)
- Deeper high grade molybdenite in breccia at 172m-173m: 1m @ 0.49% Mo.
Major highlights from Hole 22 are-
- 41m @ 0.75 g/t Au, 3.1g/t Ag (surface 0m-41m)
- Includes 11m @ 1.3 g/t Au, 3.5 g/t Ag, (20m-31m)
- which includes 5m @ 2.04 g/t Au; 26m-31m, up to 1m@ 5.06 g/t
- lower zone (1) 3 m @ 3.14 g/t Au, 8 g/t Ag (155m-158m).
- lower zone (2) 3 m @ 2.45 g/t Au, 13.1 g/t Ag (201m-204m)
The company informed that the upper zone coincides with high IP conductivity with elevated gold zones with shallow depths, which would further guide drill testing of gold zones.
More about Cannindah East
Like Cannindah Breccia, the two diamond holes at Cannindah East have many features evident in intrusive related porphyry systems.
From holes #21 and 22, the measured mineralised structures and veins have multiple orientations, and a similar pattern of vein timing and development is often seen in large scale porphyry/intrusive related systems, informed CAE.
The integration of timing observations from Cannindah East with the structural, alteration and lithological data gathered during the 2021-2023 12,000m diamond drilling program at Cannindah Breccia would be used in developing a geological and resource model currently underway.
CAE shares traded at AU$0.105 apiece on 16 October 2023.
