Cannindah Resources Limited (ASX:CAE) Thick High Grade Copper Gold Intersection Of 71M @ 0.95% Cueq

Cannindah Resources Limited (ASX:CAE) is pleased to announce an outstanding assay result from the first hole in its recently commenced drilling program to test extensions to the existing Mineral Resource as well as testing some significant IP anomalies adjacent to the Resource.
Thick High Grade Copper Gold Intersection of 71m @ 0.95% CuEq in Hole 24 Extends Mineralisation at Mt Cannindah Beyond Resource Within A Larger Significant Zone of 274m @ 0.49% CuEq.
KEY HIGHLIGHTS:
- First hole from the recently commenced drilling program at the Mt Cannindah Copper Gold Project has returned an outstanding intersection of:
o 71m @ 0.95% CuEq* comprising 0.75% Cu, 0.2 g/t Au, 10.4 g/t Ag from 127m including 20m @ 1.1%Cu and 0.28g/t Au from 132m
- The intersection is within a significant larger mineralised zone of:
o 274m @ 0.49% CuEq comprising 0.35% Cu, 0.14 g/t Au, 5.9 g/t Ag from 82m to 356m
- High grade gold was also intersected in parts of the hole
o 1m @ 31.07 g/t Au from 464m to 465m
o 1m @ 5.14 g/t Au, 0.15% Cu, 18.3 g/t Ag, from 338m
- The intersection in hole 24 highlights the excellent continuity of the copper mineralisation at the Mt Cannindah deposit and extends mineralisation beyond the Resource also filling the data gap between the excellent results in holes 13 and 19 reported below.
- Diamond drilling continues at the Project with the third hole for 2025 completed yesterday and the fourth hole (hole 27) to commence shortly, assays are pending
- Drilling is now testing major IP anomalies proximal to the existing 14.5Mt @ 1.09 CuEq MRE
Hole CAE2024 intersected a significant 71m @ 0.95% CuEq from 127m, within a very large and broad zone of 274m @ 0.49% CuEq. The hole also returned some high grade gold including 1m @ 31.07 g/t Au from 464m.
Cannindah Resources Managing Director Mr Tom Pickett said "These outstanding results further demonstrate the continuity of the high grade zone and support the clear upside potential of the Cannindah Mineral System given that only 15% of the total surface area of the system hosts the 158,000t Cu equivalent that currently makes up the 14.5Mt Cannindah Mineral Resource.
Future work will continue to focus on the extensions and upside of the Cannindah breccia, the high grade gold zones, along with a reinterpretation of the many remaining prospects that comprise the remainder of the substantial Cannindah Mineral System. We are pleased to have now completed the third hole for this year. We look forward to moving the rig to start drilling towards the large exciting prospect known as the south west IP anomaly."
These results demonstrate continuity of the breccia mineralisation and further indicate the potential development of shallow plunging higher grade zones or shoots internal to the enveloping Cu Au mineralised material. Furthermore the continual development of high grade gold results in most drill holes completed to date provides further encouragement. This hole extends beyond the known resource area and is outside the current resource block model from 278m, and potentially provides an increase in grade within the area of the resource that it has filled where there was a data gap between the excellent results of previous holes 13 and 19.
Cannindah Resources Limited is currently completing a diamond drilling program at the Mt Cannindah, copper gold silver project south of Gladstone near Monto in central Queensland.
*To view the full announcement, please visit:
-p alt="Cannindah Resources Limited" src="https://abnnewswire.net/images/logos/37928en.png" style="float:left; height:43px; margin:5px; width:120px" />Cannindah Resources Limited is an ASX-listed (ASX:CAE) Queensland, Australia-based exploration and resource development company. We are focused on copper and gold mineral exploration, evaluation, and progressing various mineral projects.

Cannindah's goal is to preserve shareholder wealth and grow the value of the flagship asset with prudent exploration methods. Our focus is to progress further exploration work at the Piccadilly Project and review the possible strategies for Mount Cannindah Project.

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