Highlights
- CAE has shared encouraging assay results from CAE HOLE #19, drilled at its Mt Cannindah project.
- Lab results have indicated copper grades over 1% Cu up to 2% Cu, along with gold in the range 0.5g/t to >1 g/t Au and silver >15 g/t Ag up to 80 g/t Ag.
- The confirmation of copper, gold and silver in hole 19 at the project site is a testament to the professional approach to the exploration CAE has been completing, says the company.
- The company has also received encouraging preliminary results for major IP survey and metallurgy testwork.
In the latest announcement, ASX-listed Cannindah Resources (ASX: CAE) posted recently received lab results from CAE HOLE #19 intervals over several metres with copper grades over 1% Cu up to 2% Cu, along with significant gold in the range 0.5g/t to greater than 1 g/t Au and silver greater than 15 g/t Ag, up to 80 g/t Ag.
Source: CAE update
Shares gain nearly 14%
Post the ASX announcement, the company’s shares were spotted trading at AU$0.165, more than 13.79% higher from the last close. The company has a total market cap of over AU$81.48 million.
This is what Tom Pickett, CAE Executive Chairman, commented on the latest development: