Mt Cannindah Hole 11 Cu, Au to bottom of hole 1100m
Brisbane, Aug 15, 2022 AEST (ABN Newswire) - Cannindah Resources Limited (
ASX:CAE) is pleased to announce the next set of completed assay results from the drilling program currently underway at Mt Cannindah, copper gold silver project south of Gladstone near Monto in central Queensland (Figs 1 to 2*) pertaining to the middle section (481m to 856m) of hole 22CAEDD011.
SIGNIFICANT GOLD & COPPER FROM BRECCIA ZONES IN THE DEEPEST SECTIONS PAST 850M OF CAE HOLE # 11.
- Zones of extensive copper gold silver mineralized breccia are present throughout CAE hole # 11, from near surface to 1085m. Incorporating the previously reported high grade upper zone aggregates the mineralized breccia interval to: 1022m @ 0.48% CuEq*(0.31% Cu, 0.2 g/t Au, 5.5 g/t Ag)
- Drill results from new gold zones: 9m @ 1.62 g/t Au (860m-869m) 3m @ 3.73 g/t Au (890m-893m). Some high grade assays include 1m @ 7.73 g/t Au,13.8 g/t Ag , 1m @ 10.0 g/t Au,17.5 g/t Ag).
- Combining with previously reported results demonstrates potential of the lower gold mineralised interval which aggregates to 118m @ 0.70 g/t Au (775m to 893m).
- A deeper copper zone associated with altered mineralised breccia contains scattered intervals of elevated to moderate copper which aggregates to 46m @ 0.29% CuEq, (0.2% Cu,0.1 g/t Au, 4 g/t Ag: 1022m-1068m).
- Mt Cannindah Breccia continues to great depth, with the deepest copper intersected to date, in the deepest hole drilled to date, assaying 0.5% Cu, 0.3 g/t Au,7.5 g/t Ag at 1085m
Hole CAE #11 is the northern most hole that CAE have drilled to date at Mt Cannindah . At a final depth of over 1099.4m, it is also the deepest, drilling east to west down the axis of a major tabular breccia body. The results reported here further expand the depth extent of sulphidic , copper-gold -silver bearing breccia and altered porphyry zones. CAE hole #11 was collared in unaltered diorite, targeting blind breccia mineralisation.
CAE holes in this northern zone (CAE # 9 ,10,11) have all returned thick intersections of high grade copper-gold silver (Fig 3*), reported in previous CAE ASX announcements CAE hole 9: ASX announcement dated 4 - 5/4/2022: 341m of 1.03%CuEq (0.75%Cu, 0.26g/tAu, 14.6g/tAg), CAE hole 10 -ASX announcement dated 12/5/2022: 271m @1.41% CuEq (0.98 % Cu, 0.44 g/t Au, 20.3 g/t Ag).
These CAE holes have drilled down the long axis and demonstrably across the layering of the Mt Cannindah breccia body (refer CAE ASX Announcements: 19 October 2021, 9 November 2021, 25 January 2022, 22 February 2022 ,4 April,20h22, 27 June 2022.)
CAE hole # 11 is collared 40m north of CAE hole # 9, similarly drilling east to west, down the axis of the breccia body at the northern extremity of drilling at Mt Cannindah. The trace of CAE hole # 11 crosses over the paths of CAE holes # 9,10 and drills towards CAE hole # 3 during its 1km journey into the depths of the Cannindah breccia system (Fig 3 & Fig 4*).
EXECUTIVE CHAIRMAN COMMENTS
"The result of the lower section of hole 11 past 850m confirming the expansion of the depth extent of the Mt Cannindah breccia is very encouraging. This 1100m hole returned a very impressive aggregate of approximately 1022m @ 0.50% CuEq and I could not be happier with the result achieved by our team. The existence of significant copper and gold below 850m further underpins the strategy of creating potential scale at Mt Cannindah. As I mentioned in the last release on hole 11, with the push for critical metals used in the green energy transition we will need more and more copper. CAE is well placed to take advantage of the looming shortage of supply which was highlighted in the recent M&A activity in the sector. CAE will continue to explore for these expansive results at Mt Cannindah located 100km from Gladstone port within existing mining leases."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/LY02L9M6
About Cannindah Resources Limited
Cannindah Resources Limited is an ASX-listed (ASX:CAE) Queensland, Australia-based exploration and resource development company. We are focused on copper and gold mineral exploration, evaluation, and progressing various mineral projects.
Cannindah's goal is to preserve shareholder wealth and grow the value of the flagship asset with prudent exploration methods. Our focus is to progress further exploration work at the Piccadilly Project and review the possible strategies for Mount Cannindah Project.
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