Gold Coast-based explorer Cannindah Resources (ASX:CAE) has intersected over 100m of mineralised copper breccia in a drillhole at its Mt Cannindah Project in Queensland.
The company reports hole 23CAEDD019, located south of the main drilled section of the Mt Cannindah mine area, intersected 110m of mineralised copper breccia from 156m to 267m, with visual estimates in the order of between 2% and 4% chalcopyrite and with some individual metres greater than 5% chalcopyrite.
Preliminary data suggests this zone is expected to return a copper intersection around 110m downhole, with copper values between 0.8% and 1.2% Cu. Cannindah says this estimate is based on visual comparisons with similarly copper-mineralised intervals from previous drilling at the project, along with pXRF analyses of 3m sludge samples of representative drill cuttings.
The company reports sludge sampling has proven to be ‘highly’ effective at determining copper grades at Mt Cannindah, and final copper, silver, and gold grades will be reported once results have been returned from the laboratory.
Additionally, copper-bearing breccia also continues further downhole in 23CAEDD019. A lower zone between 291m and 450m returned visual estimates ranging from 0.5% to 1.5% chalcopyrite, with several metres expected to return ‘higher’ grades.
Based on assays from adjacent holes and pXRF sludge analysis, Cannindah is expecting to report in the 0.25% to 0.4% copper range over 150m downhole as a lower breccia interval.
Commenting on the results, Cannindah Resources Executive Chairman Tom Pickett says: “The great work completed by our geological team continues to deliver the right outcomes for the Mt Cannindah Project.
“The existence once again of significant copper intercepts to the southwest at Mt Cannindah opens up the new area, possibly providing excellent additional tonnage to future resource calculations”
The existence once again of significant copper intercepts to the southwest at Mt Cannindah opens up the new area, possibly providing excellent additional tonnage to future resource calculations.
The XRF numbers have traditionally correlated very well with lab assay numbers, so it is very encouraging that we have had this success in hole 19. Exploration continues with hole 20 now complete and 21 already commenced at Cannindah East some 500m away from the collar of hole 20.
We look forward to more high-quality results in the near future once assays are received and reported.”
Cannindah reports previous drilling results at the project include hole 22CAEDD013, with 104m @ 1% Cu-Eq (0.63% Cu, 0.41g/t Au, and 14.1g/t Ag) from 36m and 108m @ 1.01% Cu-Eq (0.57% Cu, 0.58g/t Au, and 9.8g/t Ag) from 229m; and hole 23CAEDD018, with 21m @ 0.98% Cu-Eq (0.75% Cu, 0.22g/t Au and 11g/t Ag) from 138m.
Cannindah Resources is an ASX-listed exploration and resource development company focused on copper and gold. The Broadbeach-based company holds the Mt Cannindah Project, which lies 100km south of Gladstone in Queensland. This project is considered a ‘high-level’ porphyry-style copper-molybdenum-gold mineralised system.
Additionally, Cannindah also holds the Piccadilly Project in the Charter Towers region in Queensland, which has historically been mined for gold.
Write to Harry Mulholland at Mining.com.au
Images: Cannindah Resources Ltd
