Cannindah Resources stretches copper-gold Southern Shoot

• A diamond extension takes one Southern Shoot intercept to 135m at 1.12% CuEq
• A second hole extends the interpreted zone 50m north
• More assays are due from the Breccia and Southern Porphyry

Special Report: Cannindah Resources’ drilling has hinted that there’s more room to boost resources at the Mt Cannindah project in Queensland, with the company extending a previously reported intersection in the Southern Shoot.

Diamond drilling added 32m of mineralised breccia to the intercept, taking it up to 135m grading 1.12% copper equivalent (0.32% copper, 0.89g/t gold and 10.96g/t silver) from a downhole depth of 214m.

The interval incorporates a previously reported higher-grade section of 44m at 2.78% CuEq from 214m.

A second hole returned a complete 88m interval at 1.06% CuEq from 200m, extending a previously reported 75m partial intersection.

Cannindah Resources (ASX:CAE) notes the results extend the interpreted higher-grade zone about 25m east and 50m north, adding data for future resource modelling.

“This diamond extension shows that mineralisation continues beyond the end of the original RC drill hole intersection, extending the Southern Shoot approximately 25m to the east and 50m to the north,” CAE managing director Cameron Switzer said.

“This data was previously unavailable for inclusion in the most recent MRE and hence indicates additional growth within the current MRE.”

Southern Shoot grows in two directions

Diamond drilling was used to get through the sometimes challenging ground at the Southern Shoot and ensure recovery of the targeted mineralised intervals.

The added mineralisation is outside the current resource outline but within the open-pit limits, where it can inform future geological modelling and pit optimisation.

Any change to the resource will depend on a new estimate.

The latest Cannindah Breccia mineral resource, reported on 29 September, stands at 23.2Mt at 0.93% CuEq, with about 85% of the tonnage classified in the higher-confidence measured and indicated categories within an optimised open-pit shell.

“The Southern Shoot remains open to the south and at depth. Our drilling is testing these extensions as we speak to establish how far the mineralised system continues,” Switzer said.

Mt Cannindah has more ground to test

The Mt Cannindah Project lies 90km southwest of Gladstone and 27km northeast of Monto in central Queensland.

It comprises nine mining leases and two surrounding exploration permits, and is 100%-owned by Cannindah.

The project hosts at least 17 copper, gold and molybdenum occurrences across porphyry-related breccia, skarn, stockwork and vein styles.

Two rigs are continuing extension drilling at the project.

Assays are pending from nine more Cannindah Breccia extension holes and three Southern Porphyry holes.

Cannindah also plans to complete diamond tails on 11 previously drilled pre-collar holes.

This article was developed in collaboration with Cannindah Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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