- Cannindah Resources (CAE) gets results for hole nine which was drilled to extend mineralisation to the north and at depth within the Mt Cannindah deposit in QLD
- CAE # 9 returned a massive copper hit of 400 metres at 0.91 per cent copper equivalent along with a significant gold zone of 14 metres at 1.65 g/t gold from 287 metres
- Copper with associated gold and silver mineralisation is also developed in the rest of the hole which was drilled to over 877 metres
- Cannindah is now drilling the 10th hole which is targeting the high-grade copper breccia intersected in hole nine to establish whether the system develops to the northwest
- Company shares are up 10.1 per cent and are trading at 38 cents
Cannindah Resources (CAE) has received further assays from a drilling program at the Mt Cannindah copper-gold-silver project in central Queensland.
Today’s results account for hole nine (CAE # 9) which ended at 877.6 metres in pyritic altered diorite, making it the longest hole ever drilled at the project.
The hole was drilled from east to west and was designed to explore the northern end of the Mt Cannindah deposit for high-grade copper-bearing breccia. It also aimed to extend mineralisation to the north and at depth, and Cannindah said it did exactly that.
CAE # 9 returned a massive copper hit from surface of 400 metres at 0.91 per cent copper equivalent which sits above a significant gold zone of 14 metres at 1.65 grams per tonne (g/t) gold from 287 metres.
The drill hole also intersected long intervals of “spectacular” infill breccia with high-grade copper present down to a 399-metre depth.
Significant results within the infill breccia include 39 metres at 1.48 per cent copper equivalent from 61 metres, 102 metres at 1.58 per cent copper equivalent from 160 metres, and 64 metres at 1.02 per cent copper equivalent from 335 metres.
Copper with associated gold and silver mineralisation is developed in the rest of the hole from 400 metres to 877.6 metres. As a gauge to the extent of mineralisation within CAE #9, the entire hole would aggregate to 877.6 metres at 0.48 per cent copper equivalent.
“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 program,” Executive Chairman Tom Pickett said.
“Hole nine extends mineralisation to the north and shows that there is far more copper than previously recognised in the system.”
Cannindah Resources has since moved on to drill CAE # 10 which is targeting the high-grade copper breccia intersected in CAE # 9 and drills out to the northwest to establish whether the system develops in that direction.
Company shares were up 10.1 per cent to trade at 38 cents at 1:35 pm AEST.