Cannindah Resources Limited (ASX:CAE) has received promising assay results from its drilling programme currently underway at Mt Cannindah, copper, gold and silver project south of Gladstone near Monto in central Queensland.
CAE hole # 10 was designed to probe in a north westerly direction for high grade copper bearing breccia at Mt Cannindah, where previous interpretations suggested it terminated by disappearing under weakly mineralised diorite.
As with the recently reported CAE hole 9, the high-grade target was closed off in historical interpretations, where interesting, but scattered and discontinuous, copper intercepts present in previous drilling had been left hanging at the northern end of the breccia.
In contrast to historic drilling in this section of the deposit, CAE again took a bold approach to drill targeting with hole # 10, drilling in a completely new north-west direction, aiming to link the high-grade breccia mineralisation intersected in CAE holes 3 and 9 and continue on to test whether the breccia system continued to the north-west.
These CAE holes have drilled down the long axis, but demonstrably across the layering of the Mt Cannindah breccia body.
CAE hole # 10, was collared in gossanous veined infill breccia, dominated by weathered dolerite and hornfels clasts, which contains variable gold, silver mineralisation to 12.5m in the oxide zone. Overall the oxide zone from surface returns: from 0m to 12.5m: 12.5m @ 1.04 g/t Au, 26.8 g/t Ag. Individual 0.5m half core samples of PQ core returned Gold Fire Assay of 10.92g/t, 2.24g/t, 1.23g/t, 1.02g/t Au.
Likewise lab assays returned some high silvers of 2.0 ounce to 4.0 ounce Ag per tonne from individual 0.5m samples such as 123.1 g/t, 63.9 g/t , 60.7 g/t Ag.
A high-grade chalcocite rich argillised diorite dominant infill breccia is present as a supergene zone from 12.5m to 24m which returned 11.5m @ 2.19 % Cu, 0.84 g/t Au, 31.5 g/t Ag. The interface between oxide and supergene zones is particularly enriched, with the 0.5m zone returning 10 ounces of silver per tonne with lab assays of 314.7 g/t Ag accompanied by 3.21 g/t Au.
Primary sulphidic mineralisation is manifested below the supergene zone as infill chalcopyrite, pyrite, quartz and calcite within a clast supported breccia variably dominated in sections by sericite -silica altered diorite, hornfels and porphyry clasts and blocks.
Overall, this primary zone extending downhole to the north-west, aggregates to 271m @ 0.98 % Cu, 0.44 g/t Au, 20.3 g/t Ag, and 4.4 % sulphur from 24m to 295m. This translates to 271m @ 1.41% CuEq. Higher grade sections of sulphidic infill, clast supported breccia occur, such as:
· 46m @ 1.68% Cu, 0.43 g/t Au, 29 g/t Ag ,5.22 % S (43m-89m) dominated by a mixture of hornfels and diorite clasts.
· 44m @ 1.31% Cu, 0.3 g/t Au, 24.9 g/t Ag ,4.86 % S (171m-215m) dominated by diorite clasts.
· 33m @ 1.29% Cu, 0.72 g/t Au, 30.7 g/t Ag ,6.63 % S (243m-276m) dominated by hornfels clasts.
· This latter zone includes a strongly sulphidic lower zone from 269m-276m which returned 7m @ 2.07% Cu, 0.42 g/t Au, 26.7 g/t Ag ,11.9 % S dominated by hornfels clasts.
· A gold zone cutting hornfels occurs below the infill breccia at 287m to 295m and aggregated 8m @ 2.25 g/t Au.
· A high-grade section returned 3m @ 5.52 g/t Au, 17.4 g/t Ag, (292m – 295m) with the highest 1m assay of 11.78 g/t Au.
“Once again CAE’s drilling programme at Mt Cannindah has delivered an excellent outcome for our shareholders,” Executive Chairman, Tom Pickett, said.
“We set out to extend past the northern section identified by the exceptional results released from hole 9 and achieved exactly that outcome delivering 295m @ 1.45%CuEq from surface.
“The board is delighted with these significant intercepts which are certainly hard to beat.
“However, we will continue to strive for more outstanding results to expand the project size, as we maintain our focus on the exploration outcomes rather than the short term vagaries of the share market. As we continue the push for clean energy we will need more copper that’s the reality.
“To become green we need to mine critical metals in order to produce reliable and clean energy and copper will play a huge part in this. This is now the new ‘inconvenient truth’.”
For further information please visit: https://cannindah.com.au/