Untested Mt Cannindah Prospects Reveal Risks and Rewards Ahead of Drilling
Cannindah Resources has reported impressive trenching results at its Mt Cannindah project, revealing high-grade copper-gold mineralisation and new porphyry targets. These findings set the stage for imminent drilling campaigns aimed at unlocking further value.
- Trenching at Appletree and Dunno prospects yields up to 61m @ 1.08% CuEq
- New pencil porphyry-hosted copper-gold-molybdenum mineralisation identified
- Mineralised intrusive phases confirmed over a 500m by 100m area
- Strong coincident geophysical anomalies support multiple porphyry centres
- Scout drilling planned within 2-4 weeks to test previously untested targets
Outstanding Trenching Results at Mt Cannindah
Cannindah Resources Limited has announced a significant breakthrough at its Mt Cannindah copper-gold project in central Queensland. Recent trenching at the Appletree and Dunno prospects within the Southern Target Zone has returned high-grade copper equivalent intercepts, including a standout 61 metres grading 1.08% CuEq. This result, alongside other substantial intercepts, highlights the potential for economically viable mineralisation in an area that has not previously been drill tested.
Emergence of Pencil Porphyry Mineralisation
The company’s geological interpretation points to the development of pencil porphyry-hosted copper-gold-molybdenum mineralisation. These mineralised intrusive phases, mapped over an estimated 500 by 100 metres, are supported by strong geochemical signatures and geophysical anomalies, including a pronounced chargeability IP anomaly at approximately 200 metres depth and a coincident magnetic high. Such features are typical of porphyry systems known globally for their scale and grade.
Strategic Implications and Next Steps
Importantly, the Appletree and Dunno prospects have never been subjected to drilling, making the upcoming scout reverse circulation drill program a critical step. Scheduled to commence within the next two to four weeks, this program aims to test the depth extensions of the mineralised zones down to 250-320 metres. The results will be pivotal in confirming the continuity and economic potential of the mineralisation, potentially transforming the project’s resource base.
Broader Project Context
Mt Cannindah hosts multiple mineralised occurrences adjacent to the Triassic Monument Intrusive Complex, including the Cannindah Breccia deposit with a current resource estimate of 14.5 million tonnes at 1.09% CuEq. The Southern Target Zone’s new discoveries complement ongoing exploration at the Eastern Target and other prospects, all supported by robust geological, geochemical, and geophysical datasets. The company’s evolving understanding of the system’s topography and mineralisation controls bodes well for identifying additional preserved porphyry centres at higher elevations.
Outlook and Market Impact
Chairman Michael Hansel emphasised the significance of these trench results as validation of the pencil porphyry concept and the project’s broader potential. As Cannindah moves into the drilling phase, investors will be watching closely for confirmation of these promising surface results at depth. The inclusion of molybdenum, a commercially valuable by-product, adds further upside pending metallurgical recovery assessments.
Bottom Line?
With scout drilling imminent, Mt Cannindah’s new trench results could mark a turning point for Cannindah Resources’ copper-gold ambitions.
Questions in the middle?
- Will the upcoming drilling confirm the continuity and grade of the trench-identified mineralisation?
- How will molybdenum recovery impact the overall project economics once metallurgical testwork is completed?
- What potential do the higher elevation targets hold based on the pencil porphyry model?