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Cannindah Resources (ASX:CAE) Targets Resource Expansion with Major Drilling at Mt Cannindah

November 27, 2024 12:25 PM AEDT | By Sonal Goyal
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 Highlights

  • The diamond drill rig has arrived at the Mt Cannindah Copper Gold Project, and the large-scale drilling program is set to begin soon.
  • Initial drilling will focus on expanding the recently updated resource area.
  • Subsequent phases of the program will target key IP anomalies near the resource, identified as extensions of chargeability anomalies from the current resource area.

Cannindah Resources Limited (ASX:CAE) is set to commence a diamond drilling program at the Mt Cannindah Copper-Gold Project, with the drill rig now on site.

Drilling plans

Geologists have strategically planned drill locations to expand the current resource area, particularly targeting the Southern Breccia anomaly. The drilling will also focus on other key Induced Polarization (IP) targets near the resource, identified as a continuation of chargeability anomalism.

The next phase will involve testing the significant Southwest Induced Polarization (SW IP) anomaly, located approximately 700 metres southwest of the current resource. This anomaly is believed to be larger than the current resource footprint.

CAE shares were trading at AU$0.045 per share at the time of writing on 27 November 2024.


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