- Cannindah Resources (CAE) has published the latest assay results from drilling at its Mt Cannindah Project in central Queensland
- Results from the fourth hole include 13.5 metres at 2.06 per cent copper and 13.9 g/t silver, including two metres at 6.01 per cent copper and 16.4 g/t silver
- The same drill hole also intersected a near-surface gold and silver oxide zone, returning 12.5 metres at 1.05 g/t gold and 60.1 g/t silver
- The company says once the results from holes four to eight are analysed, a new interpretation of what is occurring in the Mt Cannindah breccia can be expected
- Cannindah closes the day trading up 4.76 per cent at 22 cents a share
Cannindah Resources (CAE) has published the latest assay results from drilling at its Mt Cannindah Project in central Queensland.
The 1450-metre diamond drilling program was launched in early August to extend the current JORC resource at the project, and to test the continuity of higher-grade copper zones that might yield targets for follow-up drilling.
Cannindah has already published the results from the first three holes, with the results from the fourth announced today.
Highlights from the first 26 metres of the fourth hole include 13.5 metres at 2.06 per cent copper and 13.9 grams per tonne (g/t) of silver, including two metres at 6.01 per cent copper and 16.4 g/t silver.
The same drill hole also intersected a near-surface gold and silver oxide zone, returning 12.5 metres at 1.05 g/t gold and 60.1 g/t silver.
“Drill holes like we have here in hole 4 are essential to providing a higher level of certainty regarding what was being interpreted to exist previously, with what actually does exist in reality,” Chairman Thomas Pickett said.
“In many cases with the current drilling program the actual drilling data exceeds the previously interpreted grade of that area which is further testament to the success of the current drilling program.”
The company said once the results from holes four to eight were analysed, a new interpretation of what has occurred in the Mt Cannindah breccia can be expected.
Cannindah closed the day trading up 4.76 per cent at 22 cents a share.