Cannindah Resources Ltd (ASX: CAE): Resource Expansion Drilling Underway at High-Grade GAP Zone 🟡⛏️
Cannindah Resources has commenced drilling at the Cannindah Breccia targeting the high-grade "GAP" zone within its 14.5Mt @ 1.09% CuEq copper-gold resource in central Queensland. The program aims to upsize the resource and improve average grades following strong 2025 results that identified a 275m underexplored zone with significant high-grade potential.
🔑 Key Highlights
Drilling targets potential high-grade GAP zone at Cannindah Breccia
Recent intercepts include 278m @ 1.16% CuEq from surface (north) and 120m @ 1.16% CuEq from 30m including 60m @ 1.94% CuEq (south)
Initial program: 12 holes for ~3,000m of drilling
Resource update planned following program completion
Second rig secured for Southern Porphyry Target drilling
Existing resource: 14.5Mt @ 1.09% CuEq containing 105,000t Cu, 197,000oz Au, 6.4Moz Ag
🔍 Why It Matters?
The GAP zone represents a clear opportunity to increase both grade and tonnage at Cannindah Breccia. Success could materially improve project economics while the Southern Porphyry Target adds discovery upside to an already established copper-gold system.
📊 Market Snapshot
Share Price: $0.051 Market Capitalisation: ~$63.88M
🔗 Read the full article: https://colitco.com/cannindah-targets-high-grade-copper-gold/
⚠️ Disclaimer: This is not investment advice. Please conduct your own research for any investment decisions.