Cannindah Resources (ASX:CAE) has confirmed further existence of ‘high-grade’ mineralisation at the southern extension at its Mt Cannindah Project, including a ‘bonanza’ grade of 96.2 grams per tonne gold.
Addressing the results, Executive Chairman Tom Pickett says the further existence of ‘high-grade’ gold within the Mt Cannindah breccia is a huge leap forward in the extension of the mineralisation to the south-west.
The company reports additional significant results include 104m @ 1.46 g/t Au, including 20m @ 5.5g/t Au.
These latest completed assay results from drilling underway at the Mt Cannindah copper-gold-silver project south of Gladstone in central Queensland pertain to the bottom of hole 23CAEDD018.
Geological observations and logging to date of hole 19 indicate intersections over 10s of metres of sulphidic, chalcopyrite bearing hydrothermal breccia dominated by clasts of hornfels with some porphyry diorite. Processing and assaying of material from the bottom of hole 18 and also hole 19 is underway.
Hole 19 is currently being drilled and the company is awaiting these assays.
In the right image, Cannindah notes this is an example of typical “porphyry-style” multi directional quartz sulphide vein stockwork and sheeted veins with median hairline veins of pyrite, with quartz-sericite alteration selvedges cutting a clast of sericite altered diorite. This interval is 288m-289m: 1m @ 0.37 g/t Au, 0.03% Cu, and 1.4 g/t Ag.
Pickett adds: “The further existence of high-grade gold within the Mt Cannindah breccia is a huge step forward in the extension of the mineralisation to the south-west. The area has been significantly under explored and we are providing excellent data to upgrade the knowledge and resource size from this zone.
The huge intercept in this hole will hopefully be replicated in hole 19 which is currently underway so we can give our resource geologist enough data to really open up this southwest area. Our team has worked very hard towards locating exactly what we have found over many months, and these results are a testament to their dedication to providing shareholders with excellent outcomes.”
“The huge intercept in this hole will hopefully be replicated in hole 19 which is currently underway so we can give our resource geologist enough data to really open up this southwest area”
Hole 23CAEDD018 was collared to the south of the main drilled section of the Mt Cannindah mine area, targeting the extent and continuity of copper-gold-silver breccia and intrusive hosted mineralisation that sub-parallel hole 13 intersected across section some 60m to the northwest.
Comparatively, as announced on 30 September, at hole 13 Cannindah drilled 2 extensive zones (about 100m downhole widths of 1% Cu-Eq) within the primary zone of infill hydrothermal breccia.
Results include 36m to 140m: 104m @ 1.0% Cu-Eq, (0.63% Cu, 0.41g/t Au, 14.1g/t Ag); and 229m to 337m: 108m @ 1.01% Cu-Eq, (0.57% Cu, 0.58g/t Au, 9.8g/t Ag).
Hole 18 is drilled in a south-south westerly direction (magnetic direction at collar of 206 degrees). On 23 March, the company reported on the first 274m at the top of hole 18, which was collared in flinty hornfels and cut by an extensive vein fracture network as the hydrothermal infill breccia is approached downhole, crossing the contact at 138.6m. Copper and gold bearing sulphidic breccia occurs below 138m, cut by some bleached altered, argillised porphyry and thin post mineral andesite dykes.
Write to Adam Orlando at Mining.com.au
Images: Cannindah Resources Ltd
