Cannindah Resources (ASX: CAE) has intersected 110m of mineralized copper breccia from 156m to 267m in Hole 19 at its Mt Cannindah Project in Queensland, Australia.
Visual estimates are in the order of 2% – 4% chalcopyrite, with some individual metres greater than 5% chalcopyrite.
Although laboratory assay results are awaited, preliminary data suggest this zone is expected to return a copper intersection of around 110m downhole with copper values in the range 0.8%-1.2% Cu.
This estimate is based on visual comparisons with similarly copper mineralized intervals from previous drilling at Mt Cannindah, as well as utilizing PXRF analyses of 3.0m sludge samples of representative diamond drill cuttings. Sludge sampling has proved to be highly effective at determining Cu grades at Mt Cannindah. Final Cu, Ag, Au grades will be reported upon receipt of lab results.
Copper bearing breccia also continues further downhole in CAE #19, a lower zone between 291m and 450m has visual estimates generally in the 0.5% to 1.5% chalcopyrite range, but with several metre intervals of expected higher grades. Based on assaying of adjacent holes and PXRF sludge analyses, CAE is expecting to report in the 0.25% to 0.4% Cu range over 150m downhole as a lower breccia interval (291m to 450m).
“The great work completed by our geological team continues to deliver the right outcomes for the Mt Cannindah project,” Executive Chairman, Tom Pickett, said.
“The existence once again of significant copper intercepts to the southwest at Mt Cannindah opens up the new area possibly providing excellent additional tonnage to future resource calculations. The XRF numbers have traditionally correlated very well with lab assay numbers so it is very encouraging that we have had this success in hole 19.
“Exploration continues with hole 20 now complete and 21 already commenced at Cannindah East some 500m away from the collar of hole 20. We look forward to more high quality results in the near future once assays are received and reported.”
For further information please visit: https://cannindah.com.au/
