AUS
NZ
UK
CA
USA
IND
Highlights
- Deep RC drilling intersected 28m at 1.15% CuEq, ending in mineralisation at the Mt Cannindah Southern Porphyry Target.
- The intersection represents the upper or outer halo of a gold and copper-rich porphyry system.
- Drill results support the presence of a copper-gold porphyry system with increasing grade vectors.
- The Southern Porphyry Target has a surface footprint exceeding 2,000m by 800m and remains open at depth and to the south.
- CAE shares surged 26.7% to AUD 0.057, hitting an intraday high of AUD 0.065 on 28 January 2026.
Cannindah Resources Ltd (ASX:CAE) has reported promising results from its first deep reverse circulation (RC) drilling at the Mt Cannindah Southern Porphyry Copper-Gold Target in Queensland, intersecting high-grade copper-gold mineralisation. Assays from four of nine drill holes indicated the presence of significant copper and gold-rich metalliferous system at Mt Cannindah. The findings support the view that the project has the potential to host porphyry-related Cu-Au-Ag-Mo mineral resources.
High-Grade Copper-Gold Intersected at Depth
Drill hole 25CRC016 returned an intersection of 28m at 1.15% copper equivalent (CuEq) from 298m to 320m, including 28m at 1.25 g/t gold and 0.11% copper. The hole ended in mineralisation. The company’s interpretations suggest that the intersection represents the upper or outer halo of a gold and copper-rich porphyry system.
Importantly, the mineralised interval is hosted within a feldspar porphyry intrusive phase, which is commonly associated with productive or fertile porphyry systems.
Scout Drilling Confirms Targeting Model
The 2025 RC scout drilling program comprised nine drill holes to depths of up to 320m within the Southern Porphyry Target. Assay results have been received for the first four holes, with five additional results pending.
- Drillhole 25CRC013 returned-
- 46m @ 0.28% CuEq from 18m (0.22% Cu, 0.05gt Au); and
- 90m @ 0.33% CuEq from 184m (0.22% Cu, 0.09gt Au), including a high-grade intersection of: 6m @ 1.67% CuEq from 218m (1.11% Cu, 0.54gt Au).
- Drillhole 25CRC013, located 150m to the south and up-dip from 25CRC012, returned-
- 56m @ 0.16% CuEq from 152m (0.08% Cu, 0.07gt Au)
These results define the development of positive vectors, or grade shells, that are used to target higher-grade zones within the system.
Expanding Southern Porphyry Footprint
The Southern Porphyry Target now has a defined surface footprint exceeding 2,000m by 800m and remains open to the south and at depth. The target is located on the southern margin of the Monument Intrusive Complex and is characterised by coincident copper, gold and molybdenum soil anomalies.
Historic shallow drilling and trenching have identified copper and molybdenum mineralisation, while recent drilling has confirmed the presence of gold-rich zones.
The company plans further drilling to test the Southern Porphyry Target. Results from the remaining five drill holes will be reported once assays are received.
CAE Shares Rally
CAE shares were trading 26.67% higher at AUD 0.057 per share at the time of writing on 28 January 2026, having reached an intraday high of AUD 0.065.
