Cannindah Resources (ASX:CAE) has announced the identification of new drilling targets at its Mt Cannindah project in Queensland, following recent surface rock chip sampling that revealed porphyry copper-molybdenum-gold centers. The company’s findings validate two porphyry centers through porphyry-style veining and skarn mineralization. Historical soil, rock, and shallow drillhole results, previously deemed inadequate, have been re-evaluated and support the potential of these centers.
Sampling results have shown copper concentrations up to 12.28%, gold at 9.94 grams per tonne, and molybdenum at 1.24%. Geochemical pathfinders like tellurium, bismuth, tin, and tungsten were also identified. Managing Director Tom Pickett estimates the identified footprints suggest the potential for 100-200 million tonnes of material, further highlighting the prospect of additional porphyry center development within the mineral system. The company plans to apply extensional exploration methods, including data science analysis, geochemistry, geophysics, and mineral deposit modeling, to advance the project. Induced polarization anomalies coincide with both the Eastern and Southern targets, warranting deeper drilling investigations. Mt Cannindah is located 90km southwest of Gladstone and contains 17 copper-gold-molybdenum occurrences.
