Cannindah Resources (ASX:CAE) reports significant gold potential at Mt Cannindah - Kalkine Media

Highlights

• Cannindah Resources has reported significant intercepts of copper from recent drilling conducted at the Mt Cannindah project.
• The company has also encountered substantial amounts of gold and silver at the Mt Cannindah Breccia zone.
• According to the company, ‘there is significant gold potential at the Mt Cannindah project which aligns with the already significant copper results’.

Cannindah Resources Limited (ASX:CAE) has reported significant intercepts of copper from recent drilling conducted at the Mt Cannindah project. Also, substantial amounts of gold and silver have been encountered at the Mt Cannindah Breccia Zone.

Details of gold and silver intercepts:

• Hole 3 - 11m @ 3.4g/t Au from 567m.
• Hole 7 (new gold discovery) - 3m @ 28.87g/t Au which included 1m @ 81.6g/t Au and 107g/t Ag from 450m.
• Hole 8 - 17m @1.09g/t Au including 1m @ 8.18g/t Au.
• Hole 9 - 14m 1.65g/t Au from 287m.
• Hole 10 - from surface 12.5m @ 1.04g/t Au and 26.8g/t Ag, from lower gold zone 8m @ 2.25g/t Au from 287m including 3m @ 5.52g/t Au, and 17.4g/t Ag from 292m and aggregate over 295m @ 0.48g/t Au, 0.99% Cu.
• Hole 11 - 23m @ 1.8g/t Au from 792m including 6m @ 2.7g/t Au, new lower gold zones 9m @ 1.62g/t Au from 860m, including 1m @7.73g/t Au, 3m @ 3.73g/t Au from 890m, and 1m @ 10.0g/t Au and aggregate of 118m @ 0.7g/t Au from 775m.
• Hole 12 - 1m @ 4.44g/tAu from 137m.
• Hole 13 - surface gold zone 24m @ 2.11g/t Au from 0m which includes 0.5m 22.7g/t Au from 17m, 3m @ 5.70g/t Au from 14m, 3m @ 5.32g/t Au from 20.5m including 1m @ 9.80g/t Au and deeper gold zone 15m @ 2.78g/t Au from 314m.
• Hole 14 was drilling the thickness of the breccia from the west, and whilst getting 132m of copper at 0.98% Cu, 16.1g/t Ag from 147m, it also returned some high silver sections with 47m @ 25.5 g/t Ag (162m-209m), and 5m @47.2g/t Ag including 2m @ 60.5g/t Ag from 268m.
• Hole 16 stayed in copper getting 155m @ 1.12%CuEq from 125m including a high-grade section of 8m @ 3.06a% Cu and 0.6g/t Au from 205m. Highest gold was recorded from 161m with 2m @ 4.97 g/t Au.
• Hole 17 had an interval with visible gold. Also, a lower zone from 314m returned 10m @3.81g/tAu including 6m @ 6.19g/t Au, with highest grade 1m @ 16 g/t Au.

CAE shares were trading at AU$0.160 midday on 21 March 2023.

More to come…