Join our daily newsletter At The Bell to receive exclusive market insights
- Cannindah Resources (CAE) finds “exceptional” width and grade from the surface at hole 10 at the Mt Cannindah breccia deposit in Queensland
- Hole 10 confirms high-grade copper breccia was intersected in hole nine, with both holes intersecting more “significant” high-grade copper zones than previously identified
- Cannindah has intersected significant mineralisation in every one of its deep holes drilled since the current program started in 2021
- The company is now drilling holes 11 and 12 which are designed to test further potential at the deposit
- On the market, Cannindah is up 7.69 per cent and trading at 28 cents per share
Cannindah Resources (CAE) has found “exceptional” width and grade from the surface at hole 10 at the Mt Cannindah breccia deposit in Queensland.
The company has intersected wide and continuous high grades of copper, gold and silver from the surface as it drills in the north-west.
Hole 10 has confirmed the high-grade copper breccia intersected in hole nine, with both holes intersecting much more “significant” high-grade copper zones than previously identified in the area.
The latest results include Intercepts of 295 metres at 0.99 per cent copper, 0.48 grams per tonne (g/t) gold and 21g/t silver.
Cannindah has intersected significant mineralisation in every one of its deep holes drilled since the current program started in 2021.
“The board is delighted with these significant intercepts which are certainly hard to
beat,” Executive Chairman Tom Pickett said.
“However, we will continue to strive for more outstanding results to expand the project size, as we maintain our focus on the exploration outcomes rather than the short term vagaries of the share market. As we continue the push for clean energy we will need more copper that’s the reality.”
“To become green we need to mine critical metals in order to produce reliable and
clean energy and copper will play a huge part in this. This is now the new ‘inconvenient truth’.”
The company is now drilling holes 11 and 12 which are designed to test further potential at the deposit.
On the market, Cannindah was up 7.69 per cent and trading at 28 cents at 3:49 pm AEST.
