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Highlights
- First step-out drillhole 25CRC001 at Cannindah Breccia intersected 52m @ 1.18% CuEq from 4m, including 22m @ 2.63% CuEq from 32m.
- The results upgrade the existing resource and extend mineralisation eastwards.
- Seven holes have been completed in the current program, assays are pending for six additional holes.
- The current Cannindah Breccia resource stands at 14.5Mt @ 1.09% CuEq.
- Drilling is ongoing at the Eastern Target, with the Southern Target program to follow.
Cannindah Resources Limited (ASX:CAE) has released significant results from its first step-out drillhole at the Cannindah Breccia within the Mt Cannindah Project in Queensland. The results upgrade the existing resource and mark an extension of the mineralisation to the east.
Copper-Gold Intercepts Confirm Resource Expansion Potential
The first step-out hole, 25CRC001, intersected 52m @ 1.18% CuEq from 4m, including an outstanding 22m @ 2.63% CuEq from 32m. Within this high-grade interval, a material gold intersection is also included - 22m @ 1.80 g/t gold, 18.1 g/t silver, and 90 ppm molybdenum within 0.99% copper from 32m.
Copper-Gold Intercepts Confirm Resource Expansion Potential
The first step-out hole, 25CRC001, intersected 52m @ 1.18% CuEq from 4m, including an outstanding 22m @ 2.63% CuEq from 32m. Within this high-grade interval, a material gold intersection is also included - 22m @ 1.80 g/t gold, 18.1 g/t silver, and 90 ppm molybdenum within 0.99% copper from 32m.
Ongoing Drilling and Pending Results
To date, seven holes have been completed at the Cannindah Breccia in the current program, with assays pending for six additional holes. Drillhole 25CRC001 was positioned and drilled east of 23CAEDD023 (completed in 2023) following historical mapping that indicated the mineralised breccia structure continued further east. Assay results and geological logging from 25CRC001 have confirmed this interpretation.
The follow-up hole, 25CRC002 (assays pending), was designed to test a deeper extension of the same zone to support the development of an updated structural model. In contrast, drillhole 23CAEDD023 previously returned lower-grade results as it was drilled westward within the hanging wall of the structure. The new results from 25CRC001 boost the current resource of 14.5Mt @ 1.09% CuEq and extend the mineralisation to the east.
Next Steps and Ongoing Exploration
The drill rig is currently completing the final of three planned holes at the Eastern Target before moving to the Southern Target, where an initial 10-hole drilling program will be undertaken. Once all assays from the Cannindah Breccia program are received, the company will conduct a comprehensive review of geological controls and further potential. Given the high-grade results reported, the review will also assess the potential for depth extensions with a view to underground extraction.
CAE shares were trading 3.703% higher at AUD 0.056 per share at the time of writing on 10 November 2025.
