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Highlights
- Cannindah Resources has identified new high-grade Cu-Au-Ag expansion potential at its Mt Cannindah Project.
- Recent drilling has outlined a 270-metre “Gap Zone” within the southern portion with potential to expand high-grade copper-gold-silver mineralisation.
- The southern portion of the breccia has lower drill density, representing 50% of the strike but only 22% of the current copper equivalent tonnes.
- A 12-hole drilling program targeting areas of low data coverage is scheduled to begin in January 2026, with potential upgrade to the existing 14.5Mt Cannindah Breccia MRE.
Cannindah Resources Limited (ASX:CAE) has outlined a new opportunity to expand high-grade copper-gold-silver mineralisation at its Mt Cannindah Project following recent drilling. The company has commenced site works to support further drilling aimed at testing and potentially upgrading the southern portion of the existing resource at Cannindah Breccia.
Opportunity Identified in Southern Breccia Zone
Recent drilling has identified an opportunity within the southern portion of the Cannindah Breccia Mineral Resource Estimate (MRE), where high-grade Cu-Au- Ag mineralisation is expected to extend beyond the current resource footprint. The target area, referred to as the “Gap Zone”, spans approximately 270 metres of the total 600-metre resource strike length and has seen limited drilling to date.
This zone is bounded by high-grade drill intersections to the north and south.
- At the southern end, drilling returned 120 metres at 1.16% CuEq from 30 metres, including 60 metres at 1.94% CuEq from 48 metres (25CRC002).
- At the northern end, results include 278 metres at 1.16% CuEq from surface (22CAE0084).
Mineralisation Beyond the Resource Model
Recent drilling has demonstrated the presence of high-grade copper-gold-silver mineralisation beyond the current resource block model. This mineralisation is hosted within the largely untested footwall zone. In addition, a re-examination of previously drilled diamond holes has also identified evidence of high-grade breccia-style mineralisation across all holes reviewed.
Drill Density Highlights Southern Upside
Analysis of drill coverage has highlighted a contrast between the northern and southern portions of the Cannindah Breccia. The southern area has a lower drill data density, resulting in reduced support for interpolating high-grade mineralisation. Despite this, available drilling data from the southern zone has returned high-grade intersections. The southern portion represents nearly 50% of the total breccia strike length, yet contains only 22% of the total copper equivalent tonnes within the current mineral resource.
The Cannindah Breccia MRE, defined in July 2024, stands at 14.5 million tonnes at 1.09% CuEq. The resource contains an estimated 105,000 tonnes of copper, 197,000 ounces of gold, and 6.4 million ounces of silver, reported within an open pit to 350 metres below surface, with mineralisation intersected to depths of 1,086 metres downhole.
Drilling Program and Next Steps
A recent seven-hole reverse circulation drilling program targeted extensions to the east, north and south of the breccia. Eastern extension drilling returned-
- 52m @ 1.18% CuEq from 4m including a high-grade zone of 22m @ 2.63% CuEq from 32m (25CRC001)
- 120m @ 1.16% CuEq from 30m including a high-grade zone of 60m @ 1.94% CuEq from 48m (25CRC002)
A 12-hole drill program focused on areas of low drill data density in is scheduled to commence in January 2026. In addition, assays are pending for nine holes drilled into the Southern Porphyry Target, with results expected shortly.
CAE shares were trading 2.4% higher at AUD 0.043 per share at the time of writing on 22 January 2026.
