Highlights
- Cannindah Resources has extended copper-gold mineralisation in the higher-grade Southern Shoot at Mt Cannindah.
- The new mineralisation sits outside the existing resource but within modelled open pit limits.
- Multiple drill rigs remain active, with further assays pending.
Cannindah Resources Limited
has reported a wide copper-gold intersection at its Mt Cannindah project in central Queensland, extending the higher-grade Southern Shoot zone. The result has put the explorer among this week's trending small caps as copper and gold prices remain firm.
Cannindah trades outside the ASX 200, and its drilling program is focused on growing an existing resource.
What the drilling found
An extended diamond drill hole returned a long interval of copper, gold and silver mineralisation, building on earlier reverse circulation results from the same area. Another hole also returned a broad mineralised interval. The higher-grade Southern Shoot was extended to the east and north.
The company noted that reported widths are downhole lengths and not true widths.
Why the location matters
The newly identified mineralisation lies outside the existing Cannindah Breccia mineral resource but w...