Structural Insights at Mt Cannindah Raise Stakes for Resource Expansion

Exploration Update at Mt Cannindah

Cannindah Resources Ltd has revealed encouraging signs of potentially significant mineralised extensions at its Mt Cannindah Copper-Gold Project in central Queensland. Through a detailed evaluation of historical drilling data combined with recent surface mapping and sampling, the company has identified two new breccia extension targets – a Northern Breccia Extension spanning approximately 200 metres and a Southern Breccia Extension extending up to 300 metres beyond the boundaries of the current Mineral Resource Estimate (MRE).

Refined Geological Understanding

A comprehensive geological review following the 2025 diamond drilling program has enhanced Cannindah’s understanding of the structural controls influencing copper mineralisation within the Cannindah Breccia. The breccia hosting the resource is strongly controlled by fault structures, with higher-grade copper zones linked to changes in fault dip and strike. Additionally, lithological contacts, such as the boundary between diorite and hornfels sediment, play a key role in localising mineralisation. This refined model will direct upcoming drilling efforts to target flexures in fertile structures associated with these contacts.

Targeting New Opportunities

The Northern Extension is characterised by a notable shift in the strike of the breccia from north-south to north-northeast, with historical drill holes indicating mineralised breccia zones at depth that were previously unassayed. Surface sampling has also detected anomalous gold coincident with these zones, suggesting untapped potential. Meanwhile, the Southern Extension has been reinterpreted to follow a north-south trend, supported by recent rock chip sampling confirming mineralised breccia outcrops. This extension trends toward historical workings and geophysical anomalies, highlighting a compelling target area for follow-up drilling.

Broader Project Context and Strategic Outlook

Mt Cannindah, located roughly 90 kilometres southwest of Gladstone, has a rich mining history dating back to the late 19th century. The project hosts multiple copper, gold, and molybdenum occurrences related to a composite intrusive complex, with deposit styles ranging from porphyry breccias to skarns and high-sulphidation veins. Cannindah’s current MRE totals 14.5 million tonnes at 1.09% copper equivalent, representing a solid foundation for growth. The company’s strategic ambition is to expand this resource to between 100 and 200 million tonnes, leveraging both the newly identified breccia extensions and high-priority ‘pencil’ porphyry targets previously announced.

Next Steps and Market Implications

Drilling programs are being planned to test these new targets over the coming months, with results expected to provide critical insights into the potential scale and grade of the extensions. Metallurgical test work conducted in 2023 supports the recoverability of copper, gold, and silver from the Mt Cannindah ores, underpinning the economic viability of the project. Investors will be watching closely as Cannindah advances its exploration, with the potential to significantly enhance the value proposition of this Queensland copper-gold asset.