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Highlights
- Cannindah Resources has commenced drilling at its Mt Cannindah Copper-Gold Project, Queensland.
- The project hosts a Mineral Resource Estimate (MRE) of 14.5Mt at 1.09% CuEq, remaining open along strike and at depth.
- The program will include 6,000m of scout drilling, testing depths of up to 320m.
- Initial drilling will focus on the Cannindah Breccia MRE before moving to the Eastern and Southern Porphyry Targets.
- All targets are situated on granted mining leases.
Cannindah Resources Limited (ASX:CAE) has commenced a potentially transformational drilling program at its wholly owned Mt Cannindah Copper-Gold Project in Queensland. The program will target strike extensions to the north and south, and test porphyry targets.
Mt Cannindah already hosts a substantial MRE of 14.5 million tonnes at 1.09% copper equivalent (CuEq), with mineralisation remaining open along strike and at depth. The 2025 drilling campaign will include an initial 6,000m of scout drilling to depths of up to 320m.
Drilling Program Overview
Initially, the 2025 RC drilling campaign is planned to target strike extensions of the Cannindah Breccia MRE both to the north and south. Seven holes covering around 2,000m are planned.
Following this, the rig will move to the Eastern Porphyry Target, with three holes planned for approximately 1,000m. The target features an interpreted 1,700m by 400m footprint.
Drilling will then progress to the Southern Porphyry Target, where 10 holes are planned for about 3,000m. The Southern Target is defined by a broad mineralised footprint measuring 1,500m by 100–500m.
Both the Eastern and Southern porphyry systems are considered highly prospective and have not been adequately tested in recent years.
Overview of Cannindah Breccia Copper-Gold Deposit
Recent geological modelling integrating historical and new data has enhanced the understanding of mineralisation controls at the Cannindah Breccia deposit.
Mineralisation is controlled by cross-cutting and bounding structures, creating localised zones of copper and gold. The mineralisation remains open along strike to the south and north, offering promising drill targets. Several high-gold veins on the Breccia margins are yet to be tested.
Southern and Eastern Targets
The Southern Target exhibits large geochemical anomalies across a 1,400m by 100–400m area, including 1,000ppm Cu, 0.1ppm Au, and 70ppm Mo. Supporting datasets—such as mapping, trenching, and IP and magnetic anomalies—indicate potential for porphyry-style copper-gold centres beneath surface skarn mineralisation.
The Eastern Target, extending 1,700m by 400m, shows the highest IP chargeability response within the project area, with coherent zones exceeding 100mV/V. Previous shallow drilling identified anomalous copper, gold, and molybdenum in skarn, while isolated rock chip samples with elevated geochemistry further underscore the importance of this anomaly.
CAE shares were trading at AUD 0.04 per share at the time of writing on 13 October 2025.
