AUS
NZ
UK
CA
USA
IND
Highlights
- Cannindah Resources has commenced diamond drilling at the Southern Porphyry Copper-Gold Target within the Mt Cannindah Project.
- The program aims to extend mineralisation identified in earlier RC drilling, including an intercept of 28 metres at 1.15% copper equivalent.
- Phase 1 drilling includes up to 10,000 metres to test high-priority zones with porphyry indicators.
- Initial drilling will focus on a 700-metre section of the broader 2,000-metre-long target, with depths exceeding 1,200 metres per hole.
- The company holds ~AUD 17 million in cash to fund ongoing exploration and resource expansion.
Cannindah Resources Limited (ASX:CAE) has commenced a diamond drilling program at the ‘highly prospective’ Southern Porphyry Copper-Gold Target within its Mt Cannindah Project. The campaign is designed to extend known mineralisation identified through earlier reverse circulation drilling.
Drilling Re-Entry Targets Known Mineralisation
The program has begun with the re-entry and extension of previously drilled RC hole 25CRC016, which intersected 28m at 1.15% copper equivalent from 292 metres to the end of the hole. This hole, which concluded within mineralisation, is interpreted to have intersected the upper levels of a porphyry copper-gold system.
Expanded Program to Test Priority Zones
The company has planned up to 10,000m of diamond drilling for Phase 1, focusing on zones to the south and east of the earlier RC drilling completed in 2025, which identified key copper-gold porphyry indicators. These include increasing grades, thicker intersections, the presence of intrusive dykes carrying copper and gold, and elevated gold associated with copper mineralisation.
Initial drilling will focus on a 700m section within the broader 2,000-metre-long Southern Target. The drilling program has the capacity to reach depths exceeding 1,200m per hole. A second rig will undertake step-out pre-collars before transitioning to deeper diamond drilling.
Surface Exploration and Resource Expansion Continue
Surface reconnaissance has resumed over the western portion of the Southern Target to investigate anomalous sampling and induced polarisation (IP) anomalies. Meanwhile, RC drilling continues at the Mt Cannindah Breccia resource, where the first 12 holes have been completed and further drilling is in progress.
Funding Supports Ongoing Exploration
The company reported approximately AUD 17 million in cash, which will support continued exploration at the Southern Target and further drilling aimed at expanding the existing resource at Mt Cannindah Breccia.
The commencement of diamond drilling at the Southern Porphyry Target marks the next phase of exploration at the Mt Cannindah Project. Ongoing drilling and surface work are expected to provide additional data to guide future exploration and resource development activities.
CAE shares were trading at AUD 0.033 per share, up over 6.45%, at the time of writing on 31 March 2026.
