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Highlights
- Cannindah Resources is progressing exploration across its Mt Cannindah Project, with drilling focused on resource expansion and evaluation of the broader mineral system.
- The Cannindah Breccia hosts a Mineral Resource Estimate of 14.5 million tonnes at 1.09% copper equivalent (CuEq), with 88% classified as Measured and Indicated resources.
- In the 2025-2026 drilling program, 40 RC holes have been completed, with recent intersections including 103m at 1.40% CuEq and 90m at 1.11% CuEq.
- Exploration is continuing across the Southern Shoot, southern extensions and two priority porphyry targets.
- The company is targeting an updated Mineral Resource Estimate in the third quarter of calendar year 2026, alongside ongoing metallurgical test work and additional geophysical programs.
Cannindah Resources Limited (ASX:CAE) continues to progress exploration and resource development at its 100%-owned Mt Cannindah copper-gold project, located in southeast Queensland, Australia. Current activities are focused on resource expansion, infill and extension drilling, and evaluation of the broader mineral system. The company is progressing multiple exploration programs across the Cannindah Breccia deposit, southern extensions and priority porphyry targets, while preparing an updated Mineral Resource Estimate (MRE) and undertaking additional studies as part of its ongoing project development strategy.
Drilling Program Continues to Expand Resource Potential
The company completed 40 RC drill holes during the 2025-2026 drilling campaign, targeting the upper 300 metres of the breccia system. The latest drilling campaigns have focused on extending mineralisation within the Cannindah Breccia deposit, where the current MRE stands at 14.5 million tonnes grading 1.09% copper equivalent (CuEq). Approximately 88% of the resource is classified within the Measured and Indicated categories.
Recent drill programs have continued to intersect broad mineralised zones and continued to outperform 2024 MRE estimates with increased width and grade. Significant intersections include-
- 103m @ 1.4% CuEq incl. 44m @ 2.78% CuEq
- 90m @ 1.11% CuEq incl. 54m @ 1.61% CuEq
Resource Growth Focuses on Northern and Southern Areas
To date, two shoots have been identified at the project Northern Shoot and Southern Shoot.
The Southern Shoot, identified during drilling in late 2025, has continued to demonstrate encouraging widths and grades. The mineralised zone currently extends for approximately 150 metres along strike, exhibits vertical continuity of up to 200 metres, and remains open towards the south, providing additional exploration opportunities. For details on recently encountered high-grade mineralisation at Southern Shoot, click here.
Meanwhile, drilling within the Northern Shoot has focused on areas with limited historical data.
An updated MRE is scheduled for the third quarter of calendar year 2026, supported by ongoing metallurgical test work.
Southern Extension Exploration
The company has been progressing exploration along the southern extension of the Cannindah Breccia, where induced polarisation (IP) chargeability anomalies extend approximately 1.4 kilometres south of the current resource area.
Historical drilling conducted around 500 metres south of the resource boundary intersected 41.14 metres at 0.14% copper within sheeted chalcopyrite veins. More recently, drill hole 26CRC018 intersected sulphides, with assay results currently pending.
The identified IP anomaly coincides with a major regional fault, while soil sampling has also outlined a 100ppm copper anomaly along Line 9000N. To date, the southern trend has not been subject to systematic historical exploration.
The company will review pending assay results from 26CRC018, undertake follow-up drilling across the southern extension, complete additional geophysical surveys to refine drill targets, and assess the results as part of future MRE updates.
Porphyry Targets Advance to the Next Stage
The company is advancing exploration of two priority porphyry targets at the Cannindah Breccia, comprising the Southern Target and the Eastern Target. The company believes that the metals within the Cannindah Breccia are sourced from a copper-gold-silver-molybdenum porphyry system.
Integrated drilling, geological mapping, geochemical analysis and reprocessed MIMDAS IP/MT geophysical data have identified two priority target centres. Scout drilling has intersected mineralised intrusive dykes, quartz stockwork veining, molybdenite-bearing fractures and porphyry-related alteration, while integrated datasets have defined coincident chargeability and conductivity anomalies. Less than 20% of the identified target area has been drill tested.
Ongoing work includes drilling at the western target, extension of MIMDAS coverage, integration of drilling and geophysical datasets, and systematic testing of priority porphyry targets. The company is also progressing additional MIMDAS IP and airborne electromagnetic (AEM) surveys to evaluate the eastern portion of the broader mineral system.
Cannindah Resources continues to advance exploration across multiple areas of the Mt Cannindah Project, combining resource expansion drilling with evaluation of new porphyry and regional exploration targets. Ongoing drilling, updated resource estimation, metallurgical studies, and expanded geophysical programs are expected to guide the next phase of project development as the company continues assessing opportunities across its wholly owned Queensland asset.
CAE shares traded at AUD 0.034 per share on 14 July 2026.
