en.Wedoany.com Reported - Cannindah Resources has extended the Southern Shoot mineralization zone by approximately 50 meters along strike during resource drilling at the Breccia deposit of the Mt Cannindah project in Queensland.
The latest drill hole intersected 26 meters at 1.29% copper equivalent (CuEq) from 192 meters depth, within a broader 58-meter interval grading 0.68% CuEq from 168 meters. The hole was terminated early due to unfavorable ground conditions but encountered the highest-grade mineralization of the drilling interval at the endpoint. The company is currently drilling an adjacent hole aimed at penetrating the entire mineralization zone.
According to the company, the Southern Shoot now forms the second clearly defined ore shoot of the Breccia deposit, with high-grade continuous mineralization delineated over 150 meters along strike, more than 200 meters in depth, and often exceeding 100 meters in width. The mineralization zone remains open along strike and at depth. This result complements a series of other recent discoveries in the Southern Shoot, including 54 meters at 1.61% CuEq from 204 meters, 60 meters at 1.94% CuEq from 48 meters, and 44 meters at 2.78% CuEq from 214 meters.
Currently, the total resource at the Breccia deposit stands at 14.5 million tonnes grading 1.09% CuEq, with the existing Mineral Resource Estimate (MRE) primarily focused on the Northern Shoot. Cannindah Resources Managing Director and CEO Cameron Switzer noted that the Southern Shoot continues to deliver results, with more high-grade mineralization discovered within broad mineralized envelopes, and expressed confidence that this will lead to substantial MRE growth. He also stated that the strategy of using reverse circulation rigs and increasing drilling data density is paying off, regularly delineating new mineralization.
Cannindah has now completed 31 of the planned 33 reverse circulation drill holes aimed at expanding the resource at the Breccia deposit, with assays received for 26 holes. Recent drilling in gaps within the Northern Shoot MRE has also yielded significant intersections, including 26 meters at 1.64% CuEq from 112 meters, within a 128-meter interval grading 0.61% CuEq from 38 meters. Other standout results include 10 meters at 3.95% CuEq from 38 meters, and 6 meters at 4.93% CuEq, both within broader mineralization zones.
Management noted that these results consistently exceed the mineralization grades in the current MRE, with high-grade zones showing good continuity in both the Northern and Southern Shoots. Cannindah also indicated that mineralization widths are generally greater than previously modeled, which is expected to enhance the resource base. A resource update is planned for release in the third quarter of this year. Switzer explained that the drilling program targeting data gaps within the Northern Shoot has also paid off, delineating similar high-grade zones within broad mineralized envelopes, the dimensions of which often exceed previous modeling. A substantial upgrade to the mineral resource at the Breccia deposit is anticipated upon completion of the current drilling program.
The Cannindah Breccia is a structurally controlled breccia system, with high-grade mineralization associated with structural bends on a fault interpreted to extend for 3 kilometers. To date, most exploration activity has focused on a 700-meter segment related to the MRE. Future work will target the southern extension of the Southern Shoot and test depth continuity, with mineralization already identified more than 1,000 meters below surface. Systematic exploration along the entire 3-kilometer strike length of the fault is also planned.
In the near term, Cannindah will complete the current RC program at the Southern Shoot and Northern Shoot. Follow-up drilling is also planned for newly identified chargeability and conductivity anomalies along the strike of the Breccia system. Additionally, the company continues to interpret assay results from diamond drilling at the Southern Porphyry target. Here, Cannindah has identified a 2,000-meter by 800-meter target considered prospective for a large copper-gold porphyry system.
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