Cannidah Resources (ASX:CAE) has intersected a high-grade zone in Hole 22CAEDD011, the deepest hole to date at Mt Cannindah Project in Queensland.
The company said the latest “Tremendous drill results” demonstrate high grades over considerable down hole depths.
Hole # 11 key results are:
· A high grade zone of 217m @ 1.08% CU, 0.41 g/t Au , 17.0 g/t Ag (150m To 367m). Translating to 217m @ 1.47% CuEQ, occurring within a broader mineralised zone from 121m to 416m that aggregates 295m @ 0.84% Cu, 0.33 g/t Au , 13.2 g/t Ag. Translating to 295m @ 1.14% CuEq.
· Significant high grade zones of Cu, Au, Ag are present, associated with highly sulphidic sections of infill breccia or possible sulphidic feeder veins:
o 126m-127m : 1m @ 2.5%Cu, 3.73 g/t Au, 66.9 g/t Ag, 10.82 % S. (1m @ 5.3% CuEq)
o 165m-169m : 4m @ 1.60%Cu, 1.09 g/t Au, 31.9 g/t Ag, 15.81% S. (4m @ 2.52% CuEq)
o 183m-194m : 11m @ 3.00%Cu, 1.73 g/t Au, 55.0 g/t Ag, 9.82% S. (11m @ 4.49% CuEq)
o Includes higher grade zone 190m-194m : 4m @ 4.52%Cu, 4.07 g/t Au, 97.8 g/t Ag, 14.07% S, (4m @ 7.78% CuEq)
o Another wide zone 226m-364m : 138m @ 1.26%Cu, 0.44 g/t Au, 18.6 g/t Ag,4.88% S. (138m @ 1.68% CuEq).
Which includes :
o 226m-234m : 8m @ 2.25%Cu, 0.32 g/t Au, 29.8 g/t Ag, 4.88% S. (8m @ 2.68% CuEq)
o 249m-258m : 9m @ 1.42%Cu, 1.34 g/t Au, 23.8 g/t Ag,6.30% S. (9m @ 2.48% CuEq)
o 275m-360m : 85m @ 1.51%Cu, 0.51 g/t Au, 21.6 g/t Ag,5.2% S. (85m @ 1.95 CuEq)
o Includes 309m-311m : 2m @ 1.71%Cu, 9.92 g/t Au, 40.8 g/t Ag,7.22% S. (2m @ 8.07 CuEq).
· CAE hole 11 follows up the previously successful drillholes in the north targeting copper bearing breccia, as it disappeared under outcropping weakly mineralised diorite.
Similar impressive primary zone intercepts are present in CAE hole 9
· The results reported here are the successful outcome of the initial priority of CAE hole 11 which was to prove up high grades and continuous mineralisation sitting below the diorite at the northern end of the Mt Cannindah Breccia as currently drilled.
· Hole 11 has then continued probing to the west down the “throat” of the breccia, intersecting mineralised sulphidic sections particularly between 600m and 825m and then continuing sporadically to depths in excess of 1km.
Assay results are awaited of these lower zones. At this stage CAE can confidently say that we are still to establish the size of this large mineralized system.
· Hole 22CAEDD011is the northern most hole CAE have drilled to date at Mt Cannindah. It is also the deepest, at a depth in the order of 1100m, drilling east to west down the axis of a major breccia body.
“To once again deliver a massive intercept of 295m @ 1.14%CuEq in the first 500m of hole 11, with the entire hole finishing still in mineralisation at a record depth for the project of 1100m is fantastic,” Executive Chairman, Tom Pickett, said.
“The continuation of the northern section hidden beneath weakly mineralised diorite was the goal for this hole and it achieved this in spades.
“Further to this we continued the hole to a project record depth with assay results from this lower section to be announced once they are received and interpreted.
“The theory of pushing through the initial weakly mineralised section of the hole into the massive copper, gold, and silver intercepts further opening the northern section is a credit to the exploration team.
“We do not yet have a handle on the significant size of this system so we have mapped out the next five holes and the drill rig is being lined up on hole 12 as we speak.
“The future is very electric which is great for CAE.”
For further information please visit: https://cannindah.com.au/