Cannindah Resources Limited (ASX: CAE) has received laboratory results which confirm earlier observations of a significant zone of copper, gold and silver bearing hydrothermal breccia intersected in CAE hole #19 at Mt Cannindah.
These are the latest developments from the drilling programme currently underway at Mt Cannindah copper gold silver project south of Gladstone near Monto in central Queensland.
Core is being processed and assay lab results are awaited from the bottom of hole #19. With holes #20-22, recently being completed, core processing and assaying is underway. Hole #23 is currently being drilled in the southern section of the Mt Cannindah Breccia.
A major IP survey is also underway across the width of the CAE Cannindah tenements, meaning logistical considerations have to be taken into account to ensure that there is little to no disruption to the smooth running of both the drilling and geophysical operations.
CAE Hole # 19’s targeted purpose and preliminary results were reported previously in ASX Announcement 19/5/2023.
Hole 23CAEDD019 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 intersected in sub-parallel CAE holes #13 and #18.
CAE Hole #19 drills between CAE Holes # 13 & 18, with the section containing the trace of CAE hole #13 some 50m to the north west, and CAE hole # 18 some 75m to south east of the trace of CAE hole #19.
“This confirmation in hole #19 of the copper, gold and silver to the south outside the previously drilled main area of the Mt Cannindah breccia zone is fantastic to see, and again a testament to the team and the professional approach to the exploration we have been completing,” Executive Chairman, Tom Pickett, said.
“The current IP survey showing encouraging signs of further scale opportunity is exactly what we wanted to see, as well as very positive metallurgical test work. This project is building and building with each approach we adopt. The plan from here is to continue this exploration and show the true scale potential of the project area.
“We are doing this at a time where the major miners around the world are hunting for copper and the inventories are at historic lows, the timing could not be better to be getting these results. I look forward to updating shareholders with further assays from drilling, along with the IP survey and Metallurgical testing once these are completed.”
For further information please visit: https://cannindah.com.au/
