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    Cannindah Resources reports high-grade gold hits from Piccadilly trenching

    Cannindah Resources Limited (ASX: CAE) announced that high-grade gold intervals were identified in trenching at its Piccadilly Gold Project in North Queensland, with Individual 1m channel samples returning 27.5 g/t Au and wider zones of 5m @ 14 g/t Au which included 1m @ 29.34 g/t Au, 4m @ 10.14 g/t Au, and 2m @ 19.16 g/t Au from some trenches.

    The company said that these results show a larger area of interest at Piccadilly within the existing mining lease and directly north of the IP anomaly which is modeled as one of the key drivers of mineralization in the area.

    Trenching program at Piccadilly

    The company had recently completed an extensive trenching program over vein structures at the Piccadilly project. The program was aimed at understanding the distribution of surface gold within the central and eastern sections of the Piccadilly Mining Lease.

    A total of twenty-six (26), approximately 1.5m deep trenches, were excavated over several semi-parallel gold bearing vein systems (lodes) in the area of shallow historical mining at Piccadilly and extending to the east. Trenches were dug at irregular 50m to 150m intervals along the strike of the structures and across strike testing several of the sub-parallel lodes. In total there are 1500m of trenches.

    The program was designed to obtain gold assays, other geochemical and structural information, and to track the vein systems along strike to the east, where the structural trend appears to abruptly change around an inflexure point designated “The Bend Zone”, from an east-west trend to a north easterly trend.

    The company has now reported encouraging results from the trenching program.

    High-grade gold at Piccadilly

    CAE said that trenching revealed sub-parallel narrow ferruginous vein and fracture systems at Piccadilly. The company said that significant gold intervals were present in almost all trenches, with higher grades coincident with the mapped structures.

    Highlights of recently received Piccadilly trench assays included 5m @ 14 g/t Au; Trench ID 21-13 including 1m @ 29.34 g/t Au Trench ID 21-13; followed by 4m @ 10.14 g/t Au. Trench ID 21-13; 12m @ 4.19 g/t Au Trench ID 21-21 including 2m @ 19.16 g/t Au Trench ID 21-21; 4m @ 5.5 g/t Au Trench ID 21-15 including 1m @ 13.5 g/t Au Trench ID 21-15 including 1m @ 3.7 g/t Au Trench ID 21-15; 3m @ 2.78 g/t Au Trench ID 21-19; 1m @ 3.71 g/t Au Trench ID 21-22; and 1m @ 5.6 g/t Au; Trench ID 21-03.

    The company said that character Sampling along structures has some high grade. Standout results included Trench PTR21-10: 24.01 g/t Au (8m-9m); Trench PTR21-15: 9.16 g/t Au; Trench PTR21-21: 4.16 g/t Au (7.5m-9m); Trench PTR21-22: 15.5 g/t Au (17m-18m); Trench PTR21-22: 9.26 g/t Au; Trench PTR21-23: 4.81 g/t Au (39.5m-40.5m); and Trench PTR21-26: 27.5 g/t Au.

    The company said that these results show a larger area of interest at Piccadilly within the existing mining lease and directly north of the IP anomaly which is modeled as one of the key drivers of mineralization in the area.

    What’s next?

    The company said that drilling will commence at Piccadilly within the coming weeks once all results are compiled and reported and scheduling can be confirmed. CAE said that depth extension under the Piccadilly vein structure revealed by this trench sampling will be tested with drilling. The company said that the recent access upgrades and dry conditions place it in the best position to exploit the upside in its high-quality Piccadilly asset.

    CAE said that work continues in relation to the other high-quality asset at the significant Mt Cannindah porphyry copper project and the board will update shareholders in the coming weeks regarding developments across all assets.

    Image Source: Cannindah Resources Limited

    Jonathan Norris
    Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.

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    • Delayed Prices (USD) - Last Updated 14-06-2021
    • Gold $1,873.40
    • Silver $27.89
    • Dalian Iron Ore i2109 $0.00
    • LME Aluminium $2,490.00
    • LME Cobalt $42,500.00
    • LME Copper $10,029.00
    • LME Lead $2,198.00
    • LME Nickel $18,303.00
    • LME Tin $33,060.00
    • LME Zinc $3,011.00