Mt Cannindah’s Southern Target Grows to 1500m by 700m with New Surface Sampling

Expanding the Mt Cannindah Porphyry System

Cannindah Resources Ltd has reported a significant advancement in its exploration at the Mt Cannindah Project in Queensland, with surface sampling revealing a 400-metre northeast extension of porphyry-style copper-gold-molybdenum mineralisation at the Southern Target. This discovery notably expands the footprint of the Southern Porphyry Target Zone to approximately 1500 metres by 700 metres, a substantial increase that underscores the scale of the mineralised system.

The new surface samples at the Appletree East prospect, located northeast of previous trenching, returned encouraging geochemical results including copper grades up to 0.16% and molybdenum concentrations reaching 31ppm. These findings, combined with observed skarn and porphyry veining on surface, suggest the presence of upper-level mineralisation within a large porphyry system that remains open in multiple directions, including west, east, and south.

Drilling Progress and Resource Context

Meanwhile, Cannindah has completed seven drill holes at the Cannindah Breccia deposit, which hosts a current mineral resource estimate of 14.9 million tonnes at 1.09% copper equivalent, containing approximately 158,000 tonnes of copper equivalent metal. This deposit remains open along strike, presenting further opportunities for resource growth.

The company is poised to commence scout drilling at the Southern Target Zone within the next one to two weeks, with an initial program of 10 holes planned. This drilling will test the extensions of the mineralised system indicated by surface sampling and geophysical anomalies, including a large IP chargeability anomaly and coincident magnetic highs that align with the target area.

Strategic Significance and Future Outlook

Chairman Michael Hansel highlighted the transformational potential of the Southern Target, noting that the dimensions of the porphyry system are becoming increasingly impressive. Given the limited modern exploration drilling historically conducted in this area, the company views this target as a major growth opportunity for shareholders.

In addition to the Southern Target, Cannindah continues to advance exploration at other prospects within the Mt Cannindah Project, including the Monument Exploration Target and the Eastern Target, both of which exhibit compelling geophysical and geochemical signatures warranting further drill testing.

With a comprehensive exploration strategy underway, including ongoing surface sampling, geophysical surveys, and metallurgical testwork, Cannindah is methodically building a robust understanding of the mineralisation controls and potential scale of its copper-gold-molybdenum system.