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Highlights
- An Exploration Target of 25–30Mt grading 0.2–0.3% Cu and 100–150ppm Mo, equivalent to 64Kt–114Kt CuEq, has been defined at the Monument prospect.
- Skarn mineralisation is continuous over 850m × 700m within the Southern Porphyry Target and remains open in multiple directions.
- Appletree and Dunno Prospects show high-grade zones with >0.5% Cu, 200ppm Mo, and CuEq up to 1.28%, indicating potential deeper porphyry.
- Scout drilling to commence within 4–6 weeks to test the interpreted potentially transformational target.
ASX-listed Cannindah Resources Ltd (ASX:CAE) has identified significant near-surface copper-molybdenum (Cu-Mo) mineralisation at the Monument Prospect, situated within the southern portion of the Southern Porphyry Target Zone, Mt Cannindah Project. The mineralisation, hosted within skarn zones, is believed to represent a high-level signature or upper indicator of a potential higher-grade pencil porphyry system occurring at depth.
Exploration Target Defined at the Monument Prospect
Comprehensive geological mapping, rock chip sampling, trench channel data, and historical drilling have outlined an exploration target for the Monument Cu-Mo deposit. The target is estimated as –
25 to 30Mt at 0.2 to 0.3 % Cu and 100 to 150ppm Mo for 64Kt to 114Kt CuEq
Cannindah noted that the mineralisation remains open to the west, south, and east. The company also reported that gold and silver assays are pending, though trench and surface sampling have confirmed the presence of associated precious metals.
Drilling data demonstrated continuous skarn mineralisation extending over at least 850m by 700m within the broader Southern Porphyry Target area, which covers approximately 1,500m in length and 100 to 500m in width at Mt Cannindah.
High-Grade Results at Appletree Prospect
Eastern extensions outside of the reported mineralisation include the Appletree Prospect, which has returned notable trench results, including:
- 61m @ 1.28% CuEq comprising 0.94% Cu, 0.22 gt Au, 141 ppm Mo from 0m to 61m (AT_T01)
- 38m @ 0.36% CuEq comprising 0.24% Cu, 0.08 gt Au, 49 ppm Mo from 90m to 128m (AT_T01)
- 46m @ 0.81% CuEq comprising 0.52% Cu, 0.19 gt Au, 98 ppm Mo from 0m to 46m (AT_T02)
- 51m @ 0.46% CuEq comprising 0.36% Cu, 0.07 gt Au, 41 ppm Mo from 0m to 51m (AT_T03)
Furthermore, a prominent zone containing over 0.5% copper and more than 200ppm molybdenum has been identified at the Dunno Prospect, located adjacent to the Appletree Prospect on the eastern edge of the historical drilling area.
Forward Work Program
Cannindah Resources has scheduled a scout drill test of this potentially transformative target over the next 4–6 weeks, as the rig transitions from resource extension drilling at the Mt Cannindah Breccia. To date, five holes have been completed, with initial assay results expected within 2–3 weeks.
CAE Shares Rally
CAE shares were trading 4.92% higher at AUD 0.064 per share at the time of writing on 27 October 2025.
