MT CANNINDAH DRILLING REVEALS GOLDEN AND SILVER LININGS AMIDST COPPER

New Gold Discoveries Complement Expanding Copper Targets

Cannindah Resources Limited (ASX:CAE) has revealed significant gold and silver intercepts in its recent drilling activities at the Mt Cannindah project, emphasizing the precious metals’ contribution to the project’s overall value amidst rising gold prices and the current economic climate.

Drilling Highlights Include:

  • A new gold discovery in Hole 7 reported 3m at 28.87g/t Au, including a notable 1m at 81.6g/t Au and 107g/t Ag from 450m.
  • Hole 8 showed an extended section of 17m at 1.09g/t Au, with a high-grade segment of 1m at 8.18g/t Au.
  • The consistency continued in Hole 9 with 14m at 1.65g/t Au from 287m, and Hole 10 displaying notable near-surface results of 12.5m at 1.04g/t Au and 26.8g/t Ag.
  • Remarkable results persisted with Hole 11 showcasing 23m at 1.8g/t Au and Hole 12 yielding 1m at 4.44g/t Au.
  • Hole 13 uncovered a 24m surface gold zone at 2.11g/t Au, with high-grade sections including 3m at 5.70g/t Au and 3m at 5.32g/t Au with an impressive 1m at 9.80g/t Au.

Further Gold and Silver Prospects:

  • Hole 14 intersected significant silver yields of 5m at 47.2g/t Ag, including 2m at 60.5g/t Ag, while also encountering substantial copper.
  • Hole 15 and Hole 16 continued to affirm the presence of gold and copper, respectively, with Hole 16 revealing a high-grade copper section of 8m at 3.06%Cu and 0.6g/t Au.
  • Visible gold was found in Hole 17, which returned 10m at 3.81g/t Au, including 6m at 6.19g/t Au, highlighting the potential for further high-grade discoveries.

The Executive Chairman of Cannindah Resources underlined the significance of these findings:

Gold is having a good run at the moment in terms of its pricing so it is important not to lose sight of how the gold content at Mt Cannindah may assist in the determination of the ultimate value of the project. We know from our drilling that within certain areas of the Mt Cannindah breccia there is high grade gold over a number of metres as outlined above.

The exciting part will be determining whether this continues in the new target areas yet to be explored to the south west which have been discussed in recent releases as we explore the significant copper gold potential at Mt Cannindah further.

Read the full announcement

Goldman

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