- Diamond drilling adds 32m of mineralised breccia to previously reported intersection
- Drill results extend interpreted higher grade mineralised zone of Southern Shoot approximately 25m east
- Cannindah Breccia mineral resource contains 23.2Mt at 0.93% CuEq
- Southern Shoot remains open to the south and at depth
Cannindah Resources (ASX: CAE) continues to expand the Cannindah Breccia copper-gold deposit at the Mt Cannindah project in Queensland with diamond drilling success.
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Completed drilling intersections from the Southern Shoot have lengthened previously reported intervals in two holes and extend the mineralised zone approximately 25m to the east and 50m to the north, providing additional information for future mineral resource upgrades.
“This diamond extension shows that mineralisation continues beyond the end of the original RC drill hole intersection,” MD and CEO, Cameron Switzer, said.
“This data was previously unavailable for inclusion in the most recent MRE and hence indicates additional growth within the current MRE.
“The Southern Shoot remains open to the south and at depth. Our drilling is testing these extensions as we speak to establish how far the mineralised system continues.
“With two rigs operating and assays pending from a further nine Cannindah Breccia extensional holes, we are excited about the next results further growing the resource.”
Cannindah’s drilling program is testing extensions to the Cannindah Breccia mineralised system and collecting geological and grade information.
Drill hole 26CRD016 was extended using diamond drilling from 317m, intersecting an additional 32m of mineralised breccia.
The combined RC and diamond intersection extends from 214m to 349m downhole.
The Cannindah Breccia mineral resource comprises 23.2 million tonnes (Mt) at 0.93% copper equivalent (CuEq), with approximately 85% classified as Measured and Indicated.
The additional mineralisation lies outside of the existing mineral resource outline but within the limits of the open pit. The new results will inform future geological modelling and open-pit optimisation studies
Molybdenum (Mo) is not included in CuEq calculation as there has been no metallurgical testwork completed to establish recoveries. The high levels of Mo anomalism further support the interpreted geological and geochemical zonation of the Cannindah Breccia and the porphyry style mineralisation association.
CAE was down 6.82% to 2.1¢. Mkt cap $31.49M.
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