Uncertain Breccia Geometry Leaves Mt Cannindah’s True Potential Open

Exploration Update at Mt Cannindah

Cannindah Resources Limited (ASX – CAE) has unveiled encouraging results from its recent drilling campaign at the Mt Cannindah Copper-Gold Project in central Queensland. The company’s latest diamond core drilling has not only confirmed continuity of mineralisation within the existing Mineral Resource Estimate (MRE) but also highlighted significant potential for resource growth along strike and at depth.

Drillhole CAE024 delivered a standout intersection of 71 metres grading 0.95% copper equivalent (CuEq), including a higher-grade 22-metre section at 1.08% Cu and 0.26 g/t gold. This intercept sits within a broader 274-metre mineralised zone, underscoring the deposit’s robust continuity. Additionally, notable high-grade gold intervals were intersected, with assays up to 31 g/t Au over a metre.

Structural Insights and Resource Upside

Geological analysis has revealed strong structural and stratigraphic controls on the higher-grade ore shoots within the Cannindah Breccia. These controls manifest as north-south oriented flexures within a major regional fault, which appear to concentrate mineralisation. Importantly, these structural insights have identified previously untested zones south of the current MRE, where historic drilling lacked assay data but showed promising breccia lithologies.

The company’s interpretation suggests that the high-grade shoots extend beyond the southern boundary of the MRE by over 170 metres and remain open to the north, south, and at depth. This opens a compelling exploration corridor for Cannindah Resources to target in upcoming drilling programs.

700m Strike Extension to Little Wonder Prospect

One of the most intriguing findings is the identification of the Little Wonder Prospect, located approximately 700 metres south of the Cannindah Breccia. Geological characteristics at Little Wonder mirror those controlling mineralisation at Cannindah, including the presence of a fertile NNE-trending fault and associated dioritic intrusives. This prospect represents a significant untested extension of the mineralised system and a priority target for future drill testing.

Project Context and Next Steps

The Mt Cannindah project, situated about 90 km southwest of Gladstone and 27 km northeast of Monto, has a rich mining history dating back to the late 19th century. The current MRE, updated in July 2024, stands at 14.5 million tonnes grading 1.09% CuEq, containing approximately 159,000 tonnes of copper equivalent. Cannindah Resources’ recent drilling and geological reinterpretation suggest this resource could grow substantially.

Looking ahead, the company plans to focus its next phase of exploration on testing the extensions of the high-grade ore shoots, the breccia system, and newly identified pencil porphyry targets within the project area. These efforts aim to upgrade resource confidence and potentially expand the resource base.

With metallurgical test work confirming excellent recoveries of copper, gold, and silver, the Mt Cannindah project is shaping up as a compelling copper-gold development opportunity in a region that has seen relatively limited modern exploration intensity.