Cannindah Resources (ASX:CAE) has obtained significant new results in southern extension drilling at the Mt Cannindah Project in Queensland, Australia.
The company has now received the next set of completed assay results from the drilling program currently underway at Mt Cannindah, copper gold silver project south of Gladstone near Monto in central Queensland pertaining to the bottom of hole 23CAEDD018.
The latest results are from the next 200m down hole from the 0m to 274m reported in CAE ASX Announcement 23/3/2023. Hole 19 is currently being drilled and we are eagerly awaiting the assays from same.
“The further existence of high-grade gold within the Mt Cannindah breccia is a huge step forward in the extension of the mineralization to the south-west,” Executive Chairman, Tom Pickett, said.
“The area has been significantly under explored and we are providing excellent data to upgrade the knowledge and resource size from this zone. The huge intercept in this hole will hopefully be replicated in hole 19 which is currently underway so we can give our resource geologist enough data to really open up this south west area.
“Our team has worked very hard towards locating exactly what we have found over many months, and these results are a testament to their dedication to providing shareholders with excellent outcomes.”
As described previously, Hole 23CAEDD018 was collared to the south of the main drilled section of the Mt Cannindah mine area, targeting the extent and continuity of copper-gold – silver breccia and intrusive hosted mineralization that sub-parallel CAE hole # 13 intersected across section some 60m to the north west.
Hole # 13 (CAE ASX Announcement 30th September, 2022) reported the following:
- Drilled two extensive zones (approx. 100m downhole widths of 1% CuEq) within the primary zone of infill hydrothermal breccia.
- 36m to 140m : 104m @1.0% CuEq,(0.63% Cu, 0.41g/t Au, 14.1g/t Ag).
- 229m to 337m : 108m @1.01% CuEq,(0.57% Cu, 0.58g/t Au, 9.8g/t Ag.
- CAE Hole #13 also intersected some significant intervals of gold which are also prominent in other CAE drilling at Mt Cannindah
- 0m to 24m , 24m @2.11g/t Au, 10.9g/t Ag, 0.52% Cu a high grade oxidized gold zone from surface within gossanous hydrothermal infill breccia
- 314m to 329m: 15m @2.78g/t Au, which include 4m @6.50g/t Au 9.8g/t Ag. The core of the system here is a prominent semi-massive sulphide infill zone, containing high grade gold with grades up to 22.98g/t Au, 60.0g/t Ag, with high Zn,Pb, elevated Bi.
Hole # 18 drills in a south south westerly direction (magnetic direction at collar of 206 degrees). On 23/3/2023 CAE reported on the first 274m at the top of hole # 18:
Hole # 18 was collared in flinty hornfels, which is cut by an extensive vein fracture network as the Hydrothermal Infill Breccia is approached downhole, crossing the contact at 138.6m. Copper and gold bearing sulphidic breccia occurs below 138m, cut by some bleached altered, argillized porphyry and thin post mineral andesite dykes. Results reported from the top of CAE Hole # 18 are highly significant with the announcement of a high grade gold discovery (18m @6.3g/t Au) within polymetallic sulphidic breccia , which along with long intervals of significant copper mineralization opens up the extension to the south at Mt Cannindah. Drilling highlights from the top 274m of hole # 18 include :
- An open ended copper and gold bearing sulphidic breccia , that at the time of reporting, extended 171m from 103m to 274m : with an aggregated intersection of 171m @0.89 Au, 0.31% Cu, 8.1g/t Ag, (0.91 %CuEq)
For further information please visit: https://cannindah.com.au/
