Cannindah Resources Ltd (ASX:CAE) has reported broad copper-gold mineralisation from final assays of its 2025 reconnaissance drilling at the Southern Porphyry Target within the Mt Cannindah Project in central Queensland, confirming the large-scale potential of the system.
Location of the Southern Target
Results from the reverse circulation scout program intersected wide mineralised intervals including 148 metres at 0.27% copper equivalent (CuEq) from 112 metres in hole 25CRC015 and 172 metres at 0.18% CuEq from 118 metres in hole 25CRC020.
The company said the results support the interpretation of a mineralised porphyry centre nearby, highlighted by the presence of hypogene copper mineralisation such as chalcopyrite within stockwork veins and intrusive dykes.
Additional higher-grade mineralisation was identified in hole 25CRC016, which returned 28 metres at 1.15% CuEq from 298 metres to end of hole, interpreted as potentially intersecting the upper halo of a high-grade “pencil porphyry” system.
Together with earlier drilling, the results define a 700-metre strike zone of continuous mineralisation trending south, where grades and intersection thickness appear to increase.
Long section looking north of 2025 drilling with all drill results.
Key indicators supporting the porphyry model include:
- Broad mineralised intervals across multiple drill holes
- Increasing grades and metal vectors towards the southern target area
- Intrusive dykes associated with higher-grade zones
A shift in metal ratios from copper-dominant to gold-dominant towards the interpreted centre
The Southern Porphyry system has a surface footprint of more than 2 kilometres by 800 metres and remains open to the south, east and at depth.
Cannindah plans an extensive diamond drilling program to test the system further, while resource expansion drilling also continues at the nearby Cannindah Breccia deposit. The company reported it holds about $17 million in cash to fund ongoing exploration activities.
Location of Mt Cannindah Project