Untested Deep Porphyry Zones at Mt Cannindah Could Unlock Major Copper Asset

Exploration Breakthrough at Mt Cannindah

Cannindah Resources has announced a significant advancement in its Mt Cannindah copper-gold project with surface rock chip sampling confirming two previously untested porphyry-style mineralisation centres. These targets lie outside the current 14.5 million tonne Mineral Resource Area, suggesting the project’s scale potential may be substantially larger than previously understood.

The standout assay results are compelling, with copper grades reaching as high as 12.28%, gold up to 9.94 grams per tonne, and molybdenum at 1.24%. These high-grade surface samples are accompanied by elevated pathfinder elements such as tellurium, bismuth, tin, and tungsten, all indicative of robust porphyry mineral systems. This geochemical signature supports the presence of “pencil” porphyry systems, pipe-like intrusions with significant vertical extent but limited lateral spread, similar to world-class deposits like North Parkes and Cadia Ridgeway.

Historical Drilling Leaves Key Zones Untested

Importantly, the company notes that historical drilling in the area was relatively shallow and largely peripheral, failing to test the deeper economic window typical of porphyry deposits. This leaves open the possibility that substantial copper-gold mineralisation remains undiscovered at depth. Cannindah has identified two priority target zones, the Eastern Target and the Southern Target, both exhibiting large footprints and supported by coincident geophysical anomalies, including strong induced polarization (IP) responses and complex magnetic signatures.

The Eastern Target is concealed beneath surface cover and is associated with a major regional fault known as the Kalpowar Fault. It features a large IP anomaly coincident with skarn mineralisation and complex magnetic lows, suggesting a buried porphyry centre. The Southern Target, encompassing the Monument and Lifesaver prospects, is defined by historic soil geochemistry and rock chip sampling that highlight a significant copper and molybdenum anomaly over an area of 1000 by 500 meters. This target also aligns with a large IP anomaly and evidence of skarn development, reinforcing its potential.

Strategic Vision and Next Steps

Managing Director Tom Pickett emphasized the strategic objective of developing a copper asset in the 100 to 200 million tonne range, leveraging Mt Cannindah’s advantageous infrastructure location. The company is applying a suite of modern exploration techniques, including data science, geochemistry, geophysics, and mineral deposit modelling, to extend the known mineralisation footprint. Recent drilling, surface sampling, and geophysical data collectively support the presence of multiple pencil porphyry systems within the project area.

Further exploration is underway, with additional surface sampling focused on other prospective zones such as Dunno/Appletree and the Kalpowar Fault Zone. Near-term plans include deep diamond drilling to test the newly identified targets, aiming to unlock the deeper economic zones that historical programs have missed. The company’s July 2024 Mineral Resource Estimate already reported 14.5Mt at 1.09% copper equivalent, and these new targets could materially enhance the project’s resource base.

Context in Queensland’s Porphyry Landscape

Mt Cannindah sits in a region of southeast Queensland that has seen intermittent exploration since the 1960s but has not benefited from the intensive modern exploration methods applied elsewhere in Australia’s premier copper-gold provinces. The identification of pencil porphyry targets here is particularly exciting given their potential for high-grade mineralisation within relatively narrow vertical intrusions, a style that demands precise targeting and drilling.

With a robust geological framework, strong geochemical and geophysical signatures, and encouraging historical drill intersections, Cannindah Resources is positioning Mt Cannindah as a compelling copper-gold development opportunity. The company’s methodical approach to exploration and resource expansion will be closely watched by investors seeking exposure to high-quality porphyry assets in Australia.