Cannindah Resources has defined a significant near-surface copper-molybdenum exploration target at its Mt Cannindah Project, hinting at a potentially larger porphyry system beneath. Upcoming drilling aims to unlock this project's transformative potential.
- Exploration Target of 25-30 million tonnes at 0.2-0.3% copper and 100-150ppm molybdenum
- Target located within Southern Porphyry Zone at Monument Prospect, open in multiple directions
- Mineralisation interpreted as upper skarn zone overlying potential higher-grade porphyry
- Historical drilling and sampling underpin target; further drilling planned to upgrade resource status
- Metallurgical testwork indicates strong recoveries for copper, gold, silver, and molybdenum
A New Chapter at Mt Cannindah
Cannindah Resources Ltd has announced a compelling new exploration target at its Mt Cannindah Project in Queensland. The company has delineated a near-surface copper-molybdenum target at the Monument Prospect within the Southern Porphyry Target Zone, estimating a potential 25 to 30 million tonnes of mineralised material grading between 0.2% and 0.3% copper and 100 to 150 parts per million molybdenum. This equates to a copper equivalent range of approximately 64,000 to 114,000 tonnes.
What makes this announcement particularly intriguing is the interpretation that this mineralisation represents the upper skarn zone of a larger porphyry system that may host higher-grade mineralisation at depth. Porphyry systems are known for their size and economic significance, and the presence of a skarn cap often signals the potential for richer deposits below.
Historical Data Meets Modern Analysis
The exploration target is supported by a comprehensive compilation of historical drilling, geological mapping, rock chip sampling, and trench data. The mineralised envelope spans an area of roughly 850 by 700 metres within a broader 1,500 by 100-500 metre Southern Porphyry footprint. Notably, the mineralisation remains open to the west, south, and east, suggesting room for expansion.
Recent trench sampling at the adjacent Appletree Prospect has returned high-grade copper equivalent results, including intercepts such as 61 metres at 1.28% CuEq, reinforcing the prospectivity of the region. The company is poised to commence scout drilling within the next 4 to 6 weeks to test these targets, following ongoing resource extension drilling at the Cannindah Breccia deposit, which itself holds a current resource estimate of 14.5 million tonnes at 1.09% CuEq.
Metallurgical and Environmental Considerations
Metallurgical testwork conducted on samples from the Mt Cannindah project indicates excellent recoveries for copper, gold, silver, and molybdenum, suggesting that the mineralisation is amenable to conventional processing methods. This bodes well for potential future development, although the exploration target remains conceptual at this stage.
Environmental factors have also been considered, with the project area characterized by rolling hills and good access infrastructure. Early assessments note the need for acid mine drainage management plans and suitable areas for processing infrastructure, aligning with responsible mining practices.
Looking Ahead
Chairman Michael Hansel highlighted the significance of the skarn mineralisation as a typical upper-level signature of porphyry systems, underscoring the transformational potential of the target at depth. The upcoming drilling campaign will be critical in validating the exploration target and potentially upgrading it to a mineral resource, which could materially enhance the value proposition of the Mt Cannindah Project.
With a robust historical dataset, promising metallurgical characteristics, and a clear path forward for drilling, Cannindah Resources is positioning itself to unlock a new chapter in its Queensland copper-molybdenum story.
Bottom Line?
Cannindah’s next drill results could redefine the scale and grade of Mt Cannindah’s copper-molybdenum potential.
Questions in the middle?
- Will the upcoming drilling confirm continuity and upgrade the exploration target to a mineral resource?
- How might the potential higher-grade porphyry at depth impact the overall project economics?
- What are the timelines and expected milestones for metallurgical testwork and environmental approvals?