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Highlights
- Recent drilling results confirm broad copper-gold mineralisation at the Southern Porphyry Target within the Mt Cannindah project.
- Intersections from multiple holes define a 700-metre strike length of mineralisation trending southward.
- The porphyry system covers a surface footprint of more than 2,000m by 800m and remains open to the south, east and at depth.
- Extensive diamond drilling is planned to test system to the south and east.
- Resource expansion drilling continues at the Mt Cannindah Breccia, with assay results expected in March.
- CAE holds ~AUD 17 million in cash, supporting ongoing exploration and development activities.
Cannindah Resources Limited (ASX:CAE) has released encouraging final assay results from its 2025 reconnaissance drilling program at the Mt Cannindah project, confirming broad zones of copper-gold mineralisation within the Southern Porphyry Target.
The reverse circulation (RC) drilling campaign completed nine holes for a total of 6,136 metres into the target within granted mining leases. The latest assays include results from the remaining five drill holes following initial results released in January 2026.
Key drill intersections include:
- 148m at 0.27% CuEq (0.18 g/t Au and 0.09% Cu) from 112m in hole 25CRC015
- 172m at 0.18% CuEq (0.04 g/t Au and 0.10% Cu) from 118m in hole 25CRC020
The company emphasised that these intersections confirm the large-scale nature of the Southern Porphyry copper-gold system.
Evidence of Porphyry Centre Nearby
Drilling has identified mineralised indicators commonly associated with porphyry systems, including hypogene copper such as chalcopyrite within stockwork veins and altered intrusive dykes.
Additional higher-grade mineralisation was reported from hole 25CRC016, which returned:
- 28m at 1.15% CuEq (1.25 g/t Au and 0.11% Cu) from 298m to 320m, ending in mineralisation.
This interval is interpreted to have intersected the upper or outer halo of a potential high-grade “pencil” porphyry system.
Further mineralisation was also intersected in hole 25CRC015, including 6m at 2.69% CuEq from 196m, with elevated gold grades similar to those recorded in hole 25CRC016.
700m Strike Length of Mineralisation Defined
Combined with previously reported drilling, including 90m at 0.33% CuEq from 184m in hole 25CRC013, the latest results define a mineralised strike zone extending approximately 700 metres.
This result is supported by the increasing grade and intersection thickness toward the south, along with changes in metal ratios from copper-dominant zones on the periphery to gold-dominant zones towards the centre of the system. Furthermore, increase in mineralisation levels, especially the higher-grade mineralisation intervals are generally associated with the intrusive dykes development.
In east or south of hole 25CRC013, no drilling or other exploration activities was conducted, and mineralisation remains open in all directions.
Exploration to Expand Toward South and East
The Southern Porphyry System has an estimated surface footprint exceeding 2,000 metres by 800 metres. Mineralisation remains open at depth and toward the south and east.
Cannindah plans to begin an extensive diamond drilling program to test these areas and further evaluate the porphyry system.
Separately, resource expansion drilling continues at the Mt Cannindah Breccia Mineral Resource Estimate (MRE) area, where seven holes have been completed from an initial planned 12-hole program. First assay results are expected in March.
The company holds approximately AUD 17 million in cash.
CAE shares were trading at AUD 0.046 per share at the time of writing on 5 March 2026.
