Cannindah Resources (ASX:CAE) has returned wide intersections of copper, gold and silver mineralisation from an ongoing drilling program at its Mt Cannindah Project in central Queensland.
The results generated by drillhole 22CAEDD017, demonstrate a link between polymetallic breccia intersections and extend these to previously undrilled zones in the southwest and at depth.
The company says results also demonstrate the presence of hundreds of metres of ‘excellent’ copper, ‘high-grade’ gold, and silver, with results expected to be utilised in updating the current Mineral Resource Estimate (MRE).
Key intercepts include hole 22CAEDD017 with 55m @ 0.89% copper (Cu) from 356m, including a ‘high-grade’ gold hit of 6m @ 6.19g/t Au from 314m.
Other aggregate intervals include 216m @ 0.70% copper equivalent (CuEq) from 233m and 70m @ 0.31% CuEq from 509m.
Drillhole 22CAEDD017 was designed to connect at depth across several east-west cross sections and was collared in the northeast sector of the Mt Cannindah mine area in order to extend the continuity of copper-gold-silver breccia and intrusive hosted mineralisation.
Commenting on the results, Cannindah Resources Executive Chairman Tom Pickett says: “Cannindah Resources is showing that Mt Cannindah is shaping up to be larger than previously thought. Not only do we consistently see evidence of high-grade copper, gold, silver in breccia but also porphyry affinities with larger bulk tonnage being possible.
“Not only do we consistently see evidence of high-grade copper, gold, silver in breccia but also porphyry affinities with larger bulk tonnage being possible”
Hole 17 was designed to link areas together to assist with further resource calculation. It achieved its goal and provided further evidence with high grade gold hits and significant copper intercepts which is an amazing result. We are committed to pursuing our stated objectives of increasing known mineralisation at Mt Cannindah, and confirmation of the extension to the south-west has certainly done this so we are very pleased.
We have now also completed hole 18 and from visual observations it has encountered interesting copper breccia as well. I look forward to pushing the exploration activity into new zones and outlining more interesting targets within the project area into the near future.”
The company also notes a sulphidic shear/fault zone, infilled with quartz sericite and semi-massive sulphide was intersected at 314m to 324m (10m @ 3.81g/t Au), returning 1m ‘high’ gold values in the 5g/t Au to 16g/t Au range.
It is believed this structure has potential to be a ‘significant’ mineralised ‘high’ gold feeder, likely to correlate with the gold zone intersected from 288m to 295m in previously reported drillhole 22CAEDD009.
In addition, results indicate lesser sulphide is contained in the hydrothermal infill breccia between 430m and 486m, and that another infill hydrothermal breccia occurs downhole 509 to 589m.
With drilling at Mt Cannindah still ongoing, Cannindah Resources announces it has also completed hole 22CAEDD018, with initial visual observations indicating the presence of an ‘interesting’ copper breccia.
Cannindah Resources is an ASX-listed Queensland-based exploration and resource development company focused on copper and gold mineral exploration, evaluation, and progressing various mineral projects. The company’s Mt Cannindah project is located about 100km south of the city of Gladstone in central Queensland and represents a ‘large’ high-level porphyry copper-molybdenum-gold (Cu-Mo-Au) mineralised system.
Other assets included in Cannindah’s exploration portfolio include the Piccadilly Project located about 60km north of the township of Charters Towers in Queensland.
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