Cannindah Resources (ASX:CAE) has reported a 75m intercept grading 1.17% copper equivalent (CuEq) from diamond drilling at the Cannindah Breccia copper-gold resource in Queensland.
Diamond hole 26CRD009W returned 75m @ 1.17% CuEq from 213m, comprising 0.30% copper, 1.02 grams per tonne gold, and 8.6g/t silver. The interval includes 18m @ 1.53% CuEq from 216m and 17m @ 1.35% CuEq from 249m.
All intervals are downhole lengths, with true widths not known. Further assays are pending for the interval from 162.3m to 213m.
The intersection extends the ‘high-grade’ zone of the Southern Shoot about 50m north and confirms the gold and silver-rich nature of the mineralisation.
Results are reported at greater than 10m @ 0.1% CuEq and greater than 2m @ 1% CuEq, using a minimum 2m length with 10m dilution.
The diamond hole was wedged from reverse circulation (RC) hole 26CRC009 at 162.3m and continued to 362.4m after drilling difficulties and poor sample recovery in the original hole. The RC hole returned 74m @ 0.49% CuEq from 202m.
Managing Director Cameron Switzer says the result reinforces confidence in the scale and quality of the Southern Shoot.
“The decision to undertake diamond drilling following recovery issues with the original RC hole has provided valuable geological information and delivered a substantially higher-grade intersection,” Switzer notes.
“The result supports an extension of the interpreted high-grade zone approximately 50 metres to the north.”
The diamond drilling enabled improved interpretation of the mineralised breccia, including identification of the hanging wall and footwall contacts.
The results provide additional geological and grade information within the existing mineral resource area for future resource modelling and open-pit optimisation.
Two rigs continue drilling, testing extensions of the Cannindah Breccia along strike to the north and south and at depth.
Cannindah awaits assays from 11 further holes at the Cannindah Breccia and three holes at the Southern Porphyry. The company has also drilled 13 pre-collar holes in readiness for diamond tails.
The current mineral resource stands at 23.2 million tonnes grading 0.93% CuEq for 216,500 tonnes of contained CuEq metal, reported on 29 September. The estimate uses a 0.3% CuEq cut-off within an open pit optimisation shell.
The Mt Cannindah Project comprises nine mining leases and two exploration permits located 90km southwest of Gladstone in central Queensland.
Cannindah Resources is an Australian explorer advancing copper-gold projects in Queensland, with additional exposure through the Piccadilly Project.
Write to JC Villarba at Mining.com.au
Main image: Cannindah Resources
