Cannindah Resources has delivered a strong quarter with significant drill results upgrading the Mt Cannindah copper-gold project, including a new Exploration Target at the Southern Target porphyry system.
- 6,136m scout drilling completed, upgrading Cannindah Breccia and Southern Target
- Southern Target drillhole 25CRC016 hits 28m @ 1.15% CuEq including high gold values
- Exploration Target defined at Southern Target, 64-114Kt copper equivalent
- Cannindah Breccia resource extended eastwards with high-grade continuity confirmed
- New Chairman and CEO appointed during the quarter
Exploration Breakthrough at Mt Cannindah
Cannindah Resources Limited (ASX, CAE) has reported a standout quarter ending December 2025, highlighted by the completion of a 6,136-metre scout drilling program at its Mt Cannindah Project in Queensland. The program targeted extensions of the Cannindah Breccia and two emerging zones known as the Southern and Eastern Targets. Results have significantly upgraded the potential of both the Cannindah Breccia and the Southern Target, the latter showing signs of a potentially transformational porphyry copper-gold-molybdenum system.
High-Grade Intersections and New Targets
Among the most notable results, drillhole 25CRC016 at the Southern Target intersected 28 metres grading 1.15% copper equivalent (CuEq), including elevated gold grades, from 298 metres downhole to the end of the hole. This intersection is interpreted as part of the upper or outer halo of a gold-rich intrusive phase within a porphyry system, a key indicator of fertile mineralisation. Additional drillholes in the Southern Target returned broad zones of copper and gold mineralisation, including a high-grade 6-metre interval at 1.67% CuEq, reinforcing the target’s growing significance.
Expanding the Mineral Resource Footprint
At the Cannindah Breccia, the company confirmed high-grade continuity with drillholes 25CRC001 and 25CRC002 returning impressive intercepts such as 52 metres at 1.18% CuEq and 120 metres at 1.16% CuEq respectively. These results extend the mineralised zone approximately 35 to 40 metres eastwards and demonstrate continuity over a vertical distance of 140 metres from near surface. The Breccia remains a cornerstone of the project’s mineral resource estimate, which currently stands at 14.5 million tonnes at 1.09% CuEq, containing significant copper, gold, and silver ounces.
A Growing Porphyry System with Exploration Potential
The Southern Target now covers a surface footprint exceeding 2,000 metres by 800 metres and remains open to the south and at depth. Cannindah has delineated an Exploration Target of 25 to 30 million tonnes grading 0.2% to 0.3% copper and 100 to 150 ppm molybdenum, equating to 64,000 to 114,000 tonnes of copper equivalent. This target is conceptual and requires further drilling to confirm a Mineral Resource. The company plans to continue drilling in early 2026 to test the depth and lateral extents of this promising system.
Corporate Developments and Financial Position
During the quarter, Cannindah appointed Tony Rovira as Chairman and Cameron Switzer as Managing Director and CEO, signaling a refreshed leadership team to drive the project forward. Exploration expenditure for the quarter was $1.727 million, with no production or development activities reported. The company ended the quarter with $1.635 million in cash, noting that current funding covers less than one quarter of planned expenditure, and is considering options for additional capital raising to sustain its aggressive exploration program.
Looking Ahead
Cannindah’s Mt Cannindah Project continues to deliver encouraging results, with the Southern Target’s porphyry system emerging as a potentially significant discovery in the current metal cycle. The combination of high-grade breccia mineralisation and expanding porphyry targets positions the company well for further resource upgrades. Investors will be watching closely as assay results from remaining drill holes are released and follow-up drilling commences in 2026.
Bottom Line?
Cannindah’s evolving porphyry system and high-grade breccia extensions set the stage for a pivotal year ahead.
Questions in the middle?
- Will the remaining assay results from Southern Target drill holes confirm further high-grade mineralisation?
- How will Cannindah secure funding to sustain its exploration momentum beyond the next quarter?
- What are the implications of the new leadership team for the company’s strategic direction and project development?