Cannindah Resources (ASX:CAE) has identified new targets for upcoming drilling at Mt Cannindah in Queensland following the discovery of porphyry copper-molybdenum-gold centres in recent surface rock chip sampling.
The company says sampling validates the two porphyry centres from porphyry-style veining and skarn mineralisation at the project. These targets were reviewed in historical soil, rock, shallow drillhole results, which previously inadequately tested the potential of the centres.
Results include up to 12.28% copper, 9.94 grams per tonne gold, and 1.24% molybdenum. Testing also identified geochemical pathfinders such as tellurium, bismuth, tin, and tungsten.
Managing Director Tom Pickett says these footprints offer potential for 100-200 million tonnes of material, while also highlighting prospective for further development of porphyry centres within the mineral system.
“To do this we are applying extensional exploration methods including data science analysis, geochemistry, geophysics and mineral deposit modelling,” Pickett says.
“With supporting data from recent drilling and sampling, strong induced polarisation results and historic halo drill holes ending in copper mineralisation, there is good support for the presence of pencil porphyries, and we have identified at least two significant targets that we are very excited to be following up with near-term drilling.”
Shallow drilling across the halo of the Eastern Target’s geochemistry and geology supports anomalous copper results, indicating skarn development for Kalpowar Fault and associated splays.
The Southern Target was identified by recent sampling, as well as historical sampling with a high order coincident of more than 500 parts per million copper and more than 20 parts per million across a footprint of 1,000m by 500m. Previous drilling of the Monument and Lifesaver prospects within this target offer appreciable amounts of distal skin.
An induced polarisation anomaly is coincident with both targets, which will be further investigated with deeper drilling
Mt Cannindah is just 90km southwest of Gladstone, with a minimum of 17 copper-gold-molybdenum occurrences adjacent to and peripheral to the Triassic Monument Intrusive complex.
Cannindah Resources is an Australian explorer focused on the development of copper and gold projects in central Queensland.
Write to Maddison Elliott at Mining.com.au
Images: Cannindah Resources
