- Cannindah Resources (CAE) begins a 1450-metre diamond drilling program at the Mt Cannindah copper-gold project in Queensland
- The drilling will test the continuity of the high-grade copper zones and potentially identify new areas of interest for follow-up drilling
- The first hole is on track to be completed next week with the core to be sent for assay as soon as possible
- This follows the company receiving pleasing results from its Picadilly Gold Project with grades peaking at 14.56g/t gold
- Shares in Cannindah are up 1.61 per cent on the market with shares trading at 6.3 cents at 2:03 pm AEST
Cannindah Resources (CAE) has begun a 1450-metre diamond drilling program at the Mt Cannindah copper-gold project.
The company’s namesake project lies 100 kilometres south of Gladstone in Queensland and has a total resource of 5.5 million tonnes at 0.92 per cent copper and 0.34 grams of gold per tonne (g/t).
This drilling will test the continuity of the high-grade copper zones and potentially identify new areas of interest for follow up drilling.
The first hole is on track to be completed next week with the core to be sent for assay as soon as possible.
Just yesterday, Cannindah revealed it had received pleasing results from the Piccadilly Gold Project in Queensland.
The aim of this drilling was to identify the significance of The Bend area and potentially located sulphide material within an induced polarisation anomaly.
Overall, grades peaked at 3.04g/t gold including one metre at 14.56g/t gold.
Cannindah will now undertake multi-element analysis on all samples which will then be followed up by further geochemistry and trenching work.
Shares in Cannindah were up 1.61 per cent on the market with shares trading at 6.3 cents at 2:03 pm AEST.