Cannindah Resources Limited (ASX:CAE) has received further promising assay results from the drilling programme currently underway at Mt Cannindah, copper-gold-silver project south of Gladstone near Monto in central Queensland.
“Cannindah Resources is showing that Mt Cannindah is shaping up to be larger than previously thought,” Executive Chairman, Tom Pickett, said.
“Not only do we consistently see evidence of high-grade copper, gold, silver in the breccia but also porphyry affinities with larger bulk tonnage being possible.
“Hole 17 was designed to link areas together to assist with further resource calculation. It achieved its goal and provided further evidence with high grade gold hits and significant copper intercepts which is an amazing result.
“We are committed to pursuing our stated objectives of increasing known mineralization at Mt Cannindah, and confirmation of the extension to the south-west has certainly done this so we are very pleased.
“We have now also completed hole 18 and from visual observations it has encountered interesting copper breccia as well. I look forward to pushing the exploration activity into new zones and outlining more interesting targets within the project area into the near future.”
Hole 22CAEDD017 was collared in the north east sector of the Mt Cannindah mine area and targets the extent and continuity of copper-gold -silver breccia and intrusive hosted mineralization.
The hole was designed to connect at depth, across several east west cross sections , the key intersections of mineralized sulphidic breccia encountered in CAE holes #3,9,11, and to continue drilling to the south west to probe the possibility whether the deeper breccia mineralization intersected at 400m in CAE #3 extends in that direction. Historical drilling is sparse at these depths and in this south west sector of the Mt Cannindah deposit , so in this regard Hole # 17 was drilling to test the extent of mineralization on the western margin of the breccia. Hole 17 successfully established that the mineralized breccia does indeed extend to the south west. The deeper mineralized breccia zone intersected in hole 17 (eg 216m @0.7% CuEq from 233m and 70m @0.31% CuEq from 509m, ) adds a robust addition to the earlier intercepts of CAE hole 3 (493m @1.28% CuEq from surface, which included a lower breccia zone of 148m @1.01% Cu , 0.22g/t Au , 12.5g/t Ag from 252m to 400m and CAE hole 9 (341m from 58m @1.03% CuEq which included a lower breccia zone of 64m @0.81% Cu , 0.21g/t Au , 11.0g/t Ag from 335m to 399m.
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