Cannindah Resources (ASX:CAE) will conduct further diamond drilling at its Southern Porphyry target after reconnaissance drilling confirmed a high-priority target at the Appletree prospect in Queensland.
Reverse circulation pre-collar hole 26CRD047 returned 72m @ 0.18% copper equivalent (CuEq) from surface, comprising 0.12% copper (Cu), 0.06 grams per tonne gold (Au), and 1.21g/t silver (Ag).
The intercept also includes 42m @ 0.65% CuEq (0.33% Cu, 0.37g/t Au, 3.52g/t Ag) from 196m.
Meanwhile, hole 26CRD048 returned 54m @ 0.25% CuEq (0.02% Cu, 0.30g/t Au, 0.64g/t Ag) from 88m. Assays from the diamond core tails are yet to be received.
The results define anomalous precious and base metal grades over an east-west strike of about 400m across multiple holes, with copper, gold, and silver grades increasing towards the south.
Managing Director Cameron Switzer says the results are narrowing the search area.
“We are now seeing a higher-tenor zone developing over approximately 400 metres at Appletree, with increasing copper, gold, and silver grades providing a clear vector towards the south,” Switzer adds.
“These higher-grade results sit within a much larger mineralised footprint and are associated with intrusive dykes and skarn, providing further support for our geological model and the potential for a buried pencil porphyry centre at Appletree.”
Drilling has identified broad intervals of multi-element mineralisation characteristic of porphyry halo mineralisation over a footprint exceeding 1,800m, with intrusive dykes and skarn supporting the targeting model.
In 2025, drilling along strike returned 46m @ 0.28% CuEq from 18m and 90m @ 0.33% CuEq from 184m in hole 25CRC0132. Results include 148m @ 0.27% CuEq from 112m in 25CRD015 and 172m @ 0.18% CuEq from 118m in 25CRD020.
Assays from three additional diamond holes are pending, after which the company will review and reprioritise further drilling. Two rigs remain focused on resource growth at the Cannindah Breccia while the company awaits the remaining Southern Porphyry results.
Metallurgical test work on the Breccia is also advancing, with NovaCell coarse particle flotation returning recoveries of 94% Cu and 92% Ag. Cannindah plans to incorporate the update into a mineral resource estimate targeted for the end of September.
Mount Cannindah hosts a mineral resource estimate of 14.5 million tonnes @ 0.72% Cu, 0.42g/t Au, and 13.7 parts per million Ag for 1.09% CuEq.
Cannindah Resources is an Australian explorer advancing a portfolio of base and precious metals assets.
Write to JC Villarba at Mining.com.au
Main image: Cannindah Resources
