182m of Thick Massive Copper in Hole 14
Brisbane, Nov 7, 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 3*) pertaining to hole 22CAEDD014 (final depth 750.2m).
HOLE 14 CONFIRMS THICK MASSIVE 182m COPPER HIT DRILLING IN THE OPPOSITE DIRECTION TO PREVIOUS HOLES 9 AND 11
HIGHLIGHTS:
- 132m @ 0.98%Cu,0.24 g/t Au, 16.1 g/t Ag (1.25 % CuEq*) 147m-279m.
Including high grade zones:
- 47m @ 1.56%Cu,0.3 g/t Au, 25.5 g/t Ag (162m-209m)
- 20m @ 0.93%Cu,0.44 g/t Au, 17.0 g/t Ag (220m-242m)
- 21m @ 1.49%Cu,0.2 g/t Au, 21.1 g/t Ag (258m-279m)
Includes:
- 5m @ 3.26%Cu,0.4 g/t Au, 47.2 g/t Ag (267m-272m)
EXECUTIVE CHAIRMAN COMMENTS
"Hole 14 has been another success for Cannindah Resources Limited. The existence of this hole going in a west to east direction provides an understanding of the thickness to the huge 399m copper intercept encountered in hole 9 CAE (refer ASX Announcement 4/4/2022) discussed in detail below. Drilling hole 14 in the opposite direction to previous CAE holes 9 and 11 has confirmed that the high-grade copper and gold within the Mt Cannindah breccia zone extends laterally from west to east in excess of 100m as per figure below. This hole also confirms that those previous east west holes were drilling at right angles to the structural grain of the breccia and most certainly not down dip. We have stated previously that we intend to explore further extensions of the Mt Cannindah breccia zone along with the existence of a porphyry system which is further discussed below, and we intend to do just that in the coming months. We have recently completed hole 16 and are 120m into hole 17 at the time of writing this release to the ASX."
CAE hole # 14 drilled to the east (magnetic azimuth 081 degrees). The main objectives were to drill from west to east in a similar fashion to historic holes at Mt Cannindah and establish whether the long intervals of high-grade copper-gold -silver drilled east to west in CAE hole 9 could be replicated when drilled from the opposite direction. Previous CAE holes on this east west section line are:
CAE hole #9 (CAE ASX Announcement 4/4/2022) was drilled towards 261 degrees magnetic azimuth, 180 degrees in the opposite direction to CAE Hole # 14. In April 2022 (ASX Announcement 4/4/2022), CAE reported a massive downhole intercept of copper-gold-silver from hole # 9 from surface 399m @ 0.91% CuEq which includes high grade sections:
- 39m @ 1.08% Cu, 0.32 g/t Au, 25.6 g/t Ag (1.48% CuEq 61m to 100m).
- 107m @ 1.23% Cu, 0.28 g/t Au, 22.0 g/t Ag (1.58% CuEq 160m to 267m);
- 64m @ 0.81% Cu, 0.21 g/t Au, 11.0g/t Ag (1.02% CuEq 335m to 399m);
- A significant gold zone occurs below the high-grade copper:
- 14m @ 1.65 g/t Au ,0.32% Cu, 22.0g/t Ag, (1.5% CuEq 287m to 301m)
Similarly, CAE hole #11 (CAE ASX Announcement 27/6/2022), collared 40m north of CAE hole #9 was drilled essentially to the west. CAE hole # 11 was directed slightly to the west southwest on a magnetic azimuth of 251 degrees magnetic. The result is that deeper down hole, the path of hole #11 passes approximately 15m to the north, close to the path of hole # 14.
In this vicinity, CAE hole #11 returned 217m @ 1.08% Cu, 0.41 g/t Au, 17.0 g/t Ag (150m To 367m), translating to 217m @ 1.47 % CuEq.
Within a broader aggregate zone from 121m to 416m which returned 295m @ 0.84% Cu, 0.33 g/t Au, 13.2 g/t Ag translating to 295m @ 1.14% CuEq.
CAE hole #10 (CAE ASX Announcement 10/5/2022) is collared approx. 170m to the east of CAE hole # 14. Hole # 10 was drilled to the north-west (magnetic azimuth 310 degrees), hole 14 crosses the path of hole 10 at approximately 200 m downhole. Hole # 10 returned some impressive down hole width and grade: 295m from surface @ 0.99% Cu, 0.48 g/t Au, 21 g/t Ag, Translates to. 295m @ 1.45% CuEq.
CAE hole # 14 is scissoring the above holes, particularly holes 9 and 11. CAE are pleased to announce that the assay and drill results from hole # 14 confirm that the thickness and grade of these previously reported intersections, drilled east to west, extend laterally west to east across the breccia body: see Table 1*, Plans & Cross Sections (Figs 4 to 12*).
Geological observations from oriented drill core from CAE holes, indicate that there is often a general gentle easterly dip to the slabs/clasts within the hydrothermal breccia. This essentially means that, far from drilling down dip, the CAE holes drilling from the east have in actual fact been often drilling at right angles to the structural grain of the breccia. Hole # 14 was drilled in a west to east direction similar to almost all of the historical (non-CAE) holes, but in direct contrast to most of the CAE holes at Mt Cannindah.
*To view more detail, please visit:
https://abnnewswire.net/lnk/FS99EB0K
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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