Cannindah Resources Limited (ASX:CAE) recently received promising assay results from the drilling programme currently underway at the Mt Cannindah copper gold silver project south of Gladstone near Monto in central Queensland, Australia.
CAE hole # 9 was designed to explore the northern end of the Mt Cannindah deposit for high-grade copper bearing breccia, where previous interpretations suggested it terminated by disappearing under weakly mineralised diorite.
The high-grade target is essentially blind in this area with interesting but scattered and discontinuous copper intercepts present in previous drilling.
In contrast to historic drilling in this section of the deposit, CAE # 9 was drilled from east to west. The plan was to replicate the exploration success of CAE holes # 2, 3, 7 and 8 which were drilled in a similar contrary fashion, all encountering long intercepts of high-grade copper, gold, silver mineralisation.
These holes drill down the long axis, but demonstrably across the layering of the breccia body.
CAE hole # 9, was collared in gossanous veined diorite which contains variable but low-grade gold and silver mineralisation in oxidised sections (to 14m).
“To once again have a massive copper hit from near surface at Mt Cannindah is a testament to the hard work our team has put into the planning of this drilling programme,” Executive Chairman, Tom Pickett, said.
“Hole 9 extends mineralisation to the north and shows that there is far more copper than previously recognised in the system. Having more good hits outside the previous resource block model calculation is exactly what we were after.
“We look forward to exploration heading south and to the east after more investigation in this northern zone has been concluded.”
Long intervals of spectacular infill breccia, containing high grade copper are present down to 399m. Significant Copper Zones within the hydrothermal infill breccia include:
· 39m @ 1.48% CuEq from 61m (1.08% Cu, 0.32 g/t Au, 25.6 g/t Ag)
· 107m @ 1.58% CuEq from 160m (1.23% Cu, 0.28 g/t Au, 22.0g/t Ag)
· 64m @ 1.02% CuEq from 335m (0.81% Cu, 0.21 g/t Au, 11.0g/t Ag).
· A significant gold zone occurs below the high grade copper; and
· 14m @ 1.65 g/t Au from 287m (0.32% Cu, 22.0g/t Ag, 1.5% CuEq)
For further information please visit: https://cannindah.com.au/
