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Highlights
- Recent drilling at the Mt Cannindah intersected 71m @ 0.95% CuEq at drillhole CAE024 and contained high-grade gold zones, including 1m @ 31.07g/t Au, extending mineralisation beyond the current resource model.
- Recent drilling has confirmed that the mineralised zone remains open to the north, south, and at depth, with internal high-grade shoots suggesting further upside within and beyond the existing MRE.
- The company has identified Little Wonder prospect, 700m south of the Cannindah Breccia, expected to be be drill-tested as a potential extension of the high-grade copper-gold system.
Cannindah Resources Limited (ASX:CAE) has released an update on recent diamond drilling conducted at the Mt Cannindah Copper-Gold Project in central Queensland. The drilling targeted infill data gaps and the extension of the existing mineral resource, as well as targeted IP targets, with four diamond holes totalling 1,823.44m completed at the Cannindah Breccia.
High-Grade Intercepts
Data source: Company update
Notably, the drillhole also encountered high-grade gold zones, including:
- 1m @ 31.07g/t Au from 464m
- 1m @ 5.14g/t Au, 0.15% Cu, 18.3g/t Ag from 338m
These results highlight the continuity of the copper mineralisation at the Mt Cannindah deposit and extended mineralisation beyond the existing MRE, filling the gap between earlier drillholes CAE013 and CAE019.
Step-Out Drilling and Geophysical Targets
Drillhole CAE025 tested an induced polarisation (IP) anomaly 250m northwest of the MRE boundary. It returned scattered, low-order gold values over narrow zones within pyritic-altered sequence, which explains the source of the IP anomalism.
Drillhole CAE026, located 175m south of the MRE, confirmed 29m @ 0.46% CuEq from 419m. This result aligned with predictions from the 2024 resource model and validated both geological and grade estimation parameters.
Resource Expansion Potential at Cannindah Resources
Cannindah Resources has now completed 27 diamond drillholes at the Cannindah Breccia since commencing exploration in 2021, with 25 contributing to the definition of MRE containing approximately 159,000 tonnes of Cu Equivalent.
Recent drilling has identified mineralisation upside with high-grade ore zones or shoot internal to the current resources and along strike extensions to the south, north, and at depth outside the current strike extent. This zone extends approximately 450m from the northern edge of the MRE to drillhole CAE018 and remains untested to the south.
Further geological reviews suggest the breccia may also extend northeast, supported by historic geological logs referencing “shingle breccia”, a rock type consistent with high-grade sections, but lacking assay data.
The company has discovered the Little Wonder prospect, located 700 metres to the south as a similar target to the Cannindah Bericca. It will be explored through targeted drilling aligned with newly identified structural trends.
CAE shares were trading at AUD 0.023 per share at the time of writing on 23 June 2025.
