Cannindah Uncovers Thick High-Grade Copper-Gold Zone at Mt Cannindah

Significant Step-Out Drill Result

Cannindah Resources Limited has unveiled a compelling new chapter in its Mt Cannindah copper-gold project in Queensland, with the first step-out drillhole (25CRC001) returning a thick, high-grade mineralised intercept. The hole intersected 52 metres at 1.18% copper equivalent starting just 4 metres below surface, including a standout 22 metres grading 2.63% copper equivalent from 32 metres depth. This intercept also carries notable gold and silver credits, with 1.80 grams per tonne gold and 18.1 grams per tonne silver within the higher-grade zone.

Confirming Structural Controls and Resource Expansion

These results validate a recent reinterpretation of the structural geology controlling the Cannindah Breccia mineralisation, a key component of the project’s existing Mineral Resource Estimate (MRE) of 14.5 million tonnes at 1.09% copper equivalent. Importantly, the new intercept extends the eastern boundary of the mineralised zone, suggesting the deposit remains open for expansion along strike and at depth. The proximity of this high-grade mineralisation to surface enhances its economic potential, particularly for future underground mining considerations.

Broader Exploration Program Underway

The reported drillhole is one of seven completed in the current extensional drilling campaign targeting the Cannindah Breccia. Assays for the remaining six holes are awaited, which could further define and upgrade the resource. Beyond the Breccia, the company is advancing exploration at two additional promising targets, the Eastern Porphyry and the Southern Porphyry zones. The Eastern Target features a large, high-order geophysical anomaly, while the Southern Target is characterised by extensive soil geochemical anomalies and skarn mineralisation, both areas ripe for discovery.

Strategic Implications and Next Steps

Chairman Michael Hansel emphasised the significance of the high-grade zone, noting it provides a strong platform for targeted growth and resource upgrades. The company plans to integrate these new results into an updated structural model and resource estimate, alongside ongoing metallurgical testwork that supports excellent recoveries of copper, gold, silver, and molybdenum. Upcoming activities include further drilling at the Eastern and Southern targets, with scout holes planned to depths of over 300 metres, aiming to unlock the broader potential of the Mt Cannindah project.

Historical Context and Regional Potential

Mt Cannindah has a rich mining history dating back to the late 19th century and hosts multiple mineralised occurrences beyond the Cannindah Breccia, including gold and copper-molybdenum prospects. The project’s geological setting, dominated by porphyry-related breccias, skarns, and veins, offers multiple exploration avenues. Cannindah Resources’ systematic approach, combining modern geophysics, geochemistry, and drilling, is positioning the project for potential transformation into a significant copper-gold producer.