Cannindah Resources has reported significant high-grade gold and copper intersections from its first deep drilling campaign at the Mt Cannindah Southern Porphyry Target, confirming a large and fertile mineral system.
- 28m @ 1.15% copper equivalent intersected in drill hole 25CRC016
- High-grade mineralisation hosted within feldspar porphyry intrusive phase
- Southern Porphyry Target footprint exceeds 2000m by 800m and remains open
- Assays from 4 of 9 holes support increasing copper grades and metal zonation
- Further deep drilling planned to test mineralisation beyond 1000m depth
A Breakthrough in Porphyry Exploration
Cannindah Resources Ltd has delivered a compelling update from its Mt Cannindah project in Queensland, revealing substantial high-grade gold and copper intersections from its initial deep reverse circulation drilling program targeting the Southern Porphyry system. The standout result comes from drill hole 25CRC016, which returned an impressive 28 metres at 1.15% copper equivalent (CuEq), including 1.25 grams per tonne gold and 0.11% copper, ending in mineralisation at 320 metres depth. This intersection is interpreted as the upper or outer halo of a significant porphyry copper-gold system, hosted within a feldspar porphyry intrusive phase, a hallmark of fertile porphyry deposits.
Validating the Exploration Model
Assay results from four of nine holes drilled into the Southern Porphyry Target reinforce the company’s pencil porphyry model. Not only do these results confirm the presence of high-grade mineralisation, but they also reveal increasing copper grades and the development of classic grade shells or metal zonation patterns. Drill holes 25CRC012 and 25CRC013, located approximately 150 metres apart, demonstrate positive grade vectors that guide further targeted drilling. For instance, 25CRC013 returned multiple intervals including 46 metres at 0.28% CuEq near surface and a high-grade 6 metres at 1.67% CuEq at depth.
A Large and Open Mineralised System
The Southern Porphyry Target now covers a surface footprint exceeding 2000 metres east-west by 800 metres north-south and remains open to the south and at depth. This expansive zone is characterised by coincident soil anomalies of copper, gold, and molybdenum, supported by geophysical chargeability anomalies and surface mapping of skarn and porphyry-style veining. Historic shallow drilling and recent deeper holes have consistently intersected copper and molybdenum mineralisation, with the recent results adding a precious metal-rich component to the system.
Strategic Implications and Next Steps
Managing Director Cameron Switzer emphasised the significance of these results, describing Mt Cannindah as potentially the best copper-gold project in Australia outside the major producers. The confirmation of high-grade zones and metal zonation validates the company’s exploration strategy and technical assumptions. Cannindah plans to continue aggressive exploration, including deeper drilling beyond 1000 metres to delineate the full extent of the porphyry system. Metallurgical testwork indicates excellent recoveries for copper, gold, silver, and molybdenum, supporting the project's economic potential.
Context within Mt Cannindah and Regional Geology
Mt Cannindah is a historically significant mining area with multiple mineralised occurrences including breccias, skarns, and veins associated with the Triassic Monument Intrusive Complex. The Southern Porphyry Target represents a classic zoned porphyry system with strong structural controls and alteration halos. The project benefits from extensive historical data and modern exploration techniques, positioning Cannindah well to advance towards resource definition and eventual development.
Bottom Line?
With high-grade zones confirmed and a large system open at depth, Cannindah’s next drilling phase could redefine Mt Cannindah’s copper-gold potential.
Questions in the middle?
- What will the pending assay results from the remaining five holes reveal about the system’s continuity and grade?
- How will deeper drilling beyond 1000 metres impact the current resource model and project economics?
- What are the timelines and capital requirements for advancing Mt Cannindah towards feasibility studies?