Cannindah Resources (ASX:CAE) reports it has intersected ‘high-grade’ copper and gold in hole 13 from recent assays returned from ongoing drilling at its Mt Cannindah Project in Queensland.
Drilling of hole 13 tested the geological interpretations developed for the south of the Mt Cannindah Breccia after the drilling of holes 7 and 8.
The results of hole 13 delivered the outcomes originally proposed including:
- Intercept of a ‘high-grade’ oxidised gold zone from surface within gossanous hydrothermal infill breccia (0m to 24m @ 2.11g/t Au, 10.9g/t Ag, 0.52% Cu.
- Drilled 2 thick zones (approximately 100m downhole widths of 1% CuEq) within the primary zone of infill hydrothermal breccia.
- 36m to 140m: 104m @ 1% CuEq (0.63% Cu, 0.41g/t Au, 14.1g/t Ag).
- 229m to 337m: 108m @ 1.01% CuEq, (0.57% Cu, 0.58g/t Au, 9.8g/t Ag).
- When lower grade sections are included, mineralised copper-gold breccia zones in hole 13 aggregate to an upper infill breccia zone (0m to 170m) of 170m @ 0.92% CuEq (0.48% Cu, 0.58g/t Au, 10.9g/t Ag, 3.17% S) and a lower infill breccia zone (214m to 440m) of 226m @ 0.55% CuEq (0.30% Cu, 0.33g/t Au, 6g/t Ag, 3.11% S).
Hole 13 was drilled to the south-west (magnetic azimuth 211 degrees), and it was planned to determine whether continuity existed between the mineralised breccia drilled at the top of hole 8, and some patchy mineralised intersections located to the south, in ‘scattered, wide spaced’ historic exploration holes drilling from west to east.
The summary geology for hole 22CAEDD013 includes:
- 0m to 15.5m: oxidised gossanous infill hydrothermal breccia, dominated by hornfels clast cut by weathered andesite dyke.
- 15.5m to 142.31m: Infill hydrothermal breccia, dominantly horfels clasts with pyrite-chalcopyrite-quartz calcite infill.
- 142.31m to 144.1m: Fault breccia and rock crush.
- 144.1m to 219.2m: Predominantly biotite hornfels, variably fractured and sericite altered. Little evidence of sulphide. Cut by minor post mineral andesite dykes.
- 219.2m to 320.3m: Clasts supported breccia dominated by clasts of hornfels, altered porphyritic diorite. Infill quartz-calcite, rock flour, minor chlorite, minor pyrite ± chalcopyrite.
- 320.3m to 328.88m: Strongly sericite altered fault/shear zone with some quartz-sulphide veins infill and semi-massive sulphide.
- 328.88m to 432.67m: Polymict clast supported breccia dominated by close packed sericite altered porphyritic diorite, flinty hornfels, infill of quartz-calcite-K feldspar-pyrite and minor chalcopyrite. Some andesite dykes and rock crush fault zones.
- 432.67m to 609.2m: Polymict clast supported breccia dominated by close packed sericite altered porphyritic diorite, flinty hornfels, infill of quartz-calcite-K feldspar, strongly pyritic, little to no chalcopyrite. Some andesite dykes.
- 609.2m to 623.1m: Mainly post-mineral porphyritic andesite dykes with slivers of sericite altered clast supported breccia.
- 623.1m to 630m: Strongly sericite altered fault zone.
- 630m to 667.1m: Sericite altered bleached clast supported breccia, some porphyry style stockwork veining. Minor pyrite.
- 667.1m to 672.5m EOH: Sericite altered bleached dacite/diorite porphyry, probable dyke.
Cannindah Resources Tom Pickett said hole 13 set out to explore extensions of copper and gold mineralisation to the southwest at Mt Cannindah.
“It achieved everything we had hoped to achieve and more with hundreds of metres of high-grade copper intercepts along with an excellent 24m gold hit from surface.
“The veining and alteration seen in the lower sections of the Mt Cannindah breccia to the southwest point to similarities with large scale porphyry systems which we will be further investigating”
The veining and alteration seen in the lower sections of the Mt Cannindah breccia to the southwest point to similarities with large scale porphyry systems which we will be further investigating.
The hole extends the mineralisation to the southwest improving the size of the project and opens up a larger exploration area.
It’s clear we have already outlined a significant area of excellent grade copper, gold and silver in the breccia zone.
Now we can also seek to establish what vectors are present at that point, either at depth or peripheral to the Mt Cannindah breccia, towards a major Cu-Au-Ag mineralised porphyry centre having potential for significantly more bulk tonnage.”
The large thickness of mineralised breccia intersected in hole 13 confirm the potential of the Mt Cannindah breccia as the company extends drilling to the southwest and south.
A ‘high-grade’ gold zone was intersected at around 320m, manifested by strong quartz sericite alteration and semi-massive sulphide infill.
The overall ‘deeper’ gold zone aggregates to 15m @ 2.78g/t Au (314m to 329m) which includes 4m @ 6.50g/t Au (320m to 324m).
Within the broader intersection, 3m by 1, intervals are present greater than 5g/t Au.
A prominent semi-massive sulphide infill zone, containing ‘high-grade’ gold occurs at 322m to 323m: 1m @ 22.98g/t Au, 60g/t Ag, with ‘high’ Pb and ‘elevated’ Bi.
This gold structure dips northeast and has similar geochemical and mineralogical characteristics to the highly sulphidic, ‘bonanza’ gold structure intersected at 450m in hole 7. This intersection at 322m in hole 13 adds to the list of ‘high-grade’ gold structures drilled at depth on the western side of Mt Cannindah.
There is a wide zone of polymict clast supported breccia, below the copper-gold bearing hydrothermal infill breccia, extending to the bottom of the hole from 440m to 672.5m.
This sericite-carbonate altered breccia is dominated by sub-angular clasts of altered diorite, porphyry and hornfels, often abundant quartz calcite infill.
Strongly pyritic sections are present, and the ‘high-level’ nature of this breccia is indicated by the ‘perfect’ crystal development of the infill suggesting open spaced growth in voids in the breccia.
Blocks of quartz pyrite stock worked veined altered hornfels and porphyritic diorite are relatively common in the lower breccia zones in hole 13, particularly as it pushes on deeper in a south-west direction.
The multidirectional, multi-generational veining and quartz sericite pyrite (phyllic) alteration are all typical of a high-level porphyry style mineralisation environment.
The implication is that these blocks have been carried up from a mineralised porphyry occurring at depth, possibly to the south or south-west.
The stockwork veining of pyrite with phyllic alteration selvedges described above, bear similarities with the upper zones of major porphyry systems systems found throughout the southwest Pacific.
Cannindah plans to engage international porphyry expects to reviews the Mt Cannindah project data to establish what vectors are present that point, either at depth or peripheral to the Mt Cannindah breccia, towards a major Cu-Au-Ag mineralised porphyry centre having potential for bulk tonnage.
Copper gold mineralisation occur in the polymict breccia, in minor amounts scattered through the lower intervals of hole 13 as vein and matrix. Veins of molybdenite are also relatively common throughout the lower sections.
In short, the thick copper gold intercepts in the breccias zones of hole 13 have provided great encouragement that the Mt Cannindah copper-gold-silver breccia system is open to the south.
The implication of the wide zone of sericite altered polymict breccia below the infill breccia is that the Mt Cannindah mineralised system continues to the southwest laterally and beyond the depth of hole 13.
The common molybdenum veining in the polymict breccia point to the higher temperatures core of the intrusive system potentially being developed to the southwest.
As there has been very little exploration in the southwest direction, and almost no previous drilling, hole 13 has not only likely extended the existing resource but also created a great deal of exploration upside for the Mt Cannindah project.
Cannindah’s drilling is designed to obtain better data on copper, gold and silver grades, while testing the general geometry and extent of geological units such as breccias and mineralised structures.
Intersections recorded in hole 7 include:
- 75m of copper across two separate zones
- 20m @ 1.19% Cu, 0.55g/t Au, 46g/t Ag from 95m to 115m.
- A lower zone of hydrothermal infill breccia in hole 7: 55m @ 77% Cu, 0.21g/t Au, 8.7g/t Ag from 192m to 247m.
Intersections recorded in hole 8 include:
- 278m @ 0.87% Cu, 0.43g/t Au, 16g/t Ag (0m to 278m)
- Oxidised breccia, 17m @ .023% Cu, 1.09g/t Au, 12.8g/t Ag (0m to 17m)
- Supergene zone, 2m @ 3.75% Cu, 1.4g/t Au, 19.7g/t Ag (17m to 19m)
- Near surface gold zone, 4m @ 0.3% Cu, 1.53g/t Au, 11.5g/t Ag (28m to 32m)
- 43m @ 1.33% Cu, 0.67g/t Au, 29.8g/t Ag (41m to 84m)
- 1m @ 8.18g/t Au (478m to 479m)
Cannindah Resources is an ASX-listed, Queensland-based exploration and resource development company that is focused on copper and gold mineral exploration, evaluation, and progressing various mineral projects.
The company’s goal is to preserve shareholder wealth and grow the value of the flagship asset with prudent exploration methods.
Its focus is to progress further exploration work at the Mount Cannindah Project and review the possible strategies for the Piccadilly Project, located in the Charters Towers region of Queensland.
