Cannindah Resources Limited Stock Market Press Releases and Company Profile
Gold and Silver Highlights at Mt Cannindah Breccia
Gold and Silver Highlights at Mt Cannindah Breccia

Brisbane, Mar 21, 2023 AEST (ABN Newswire) - While recent drilling by Cannindah Resources Limited (googlechartASX:CAE) has encountered significant intercepts of copper, the emphasis on the amount of gold and silver also being encountered should not be overlooked. The below summary of the gold and silver intercepts provides some context:

Hole 3 gold zone 11m @ 3.4g/t Au from 567m (see ASX release 12st Nov 2021)

Hole 7 new gold discovery 3m @ 28.87g/t Au which included 1m @ 81.6g/t Au and 107g/t Ag from 450m (see ASX release 21st Feb 2022)

Hole 8 continued with 17m @1.09g/t Au including 1m @ 8.18g/t Au (see ASX release 21 Feb 2022)

Hole 9 encountered 14m 1.65g/t Au from 287m (see ASX release 4th April 2022)

Hole 10 gold highlights (see ASX release 12th May 2022)

o from surface 12.5m @ 1.04g/t Au and 26.8g/t Ag
o lower gold zone 8m @ 2.25g/t Au from 287m including 3m @ 5.52g/t Au, and 17.4g/t Ag from 292m
o aggregate over 295m @ 0.48g/t Au , 0.99% Cu Hole 11 gold Highlights (see ASX release 15th Aug 2022)
o 23m @ 1.8g/t Au from 792m including 6m @ 2.7g/t Au
o new lower gold zones 9m @ 1.62g/t Au from 860m, including 1m @7.73g/t Au
o 3m @ 3.73g/t Au from 890m , and 1m @ 10.0g/t Au
o Aggregate of 118m @ 0.7g/t Au from 775m

Hole 12 gold Highlights (see ASX release 29 Aug 2022)

o 1m @ 4.44g/tAu from 137m

Hole 13 gold highlights (see ASX release 30 Sept 2022)

o Surface gold zone 24m @ 2.11g/t Au from 0m which includes : 0.5m 22.7g/t Au from 17m
o 3m @ 5.70g/t Au from 14m
o 3m @ 5.32g/t Au from 20.5m including 1m @ 9.80g/t Au
o Deeper gold zone 15m @ 2.78g/t Au from 314m

Continuing Mt Cannindah gold intercepts

o Hole 14 was drilling the thickness of the breccia from the west, and whilst getting 132m of copper at 0.98%Cu, 16.1g/t Ag from 147m, it also returned some high silver sections with 47m @ 25.5 g/t Ag (162m-209m), and 5m @47.2g/t Ag including 2m @ 60.5g/t Ag from 268m. (see ASX release 7th Nov 2022)

o Hole 16 stayed in copper getting 155m @ 1.12%CuEq* from 125m including a high-grade section of 8m @ 3.06a% Cu and 0.6g/t Au from 205m (ASX 14th Feb 2023). Highest Au was recorded from 161m with 2m @ 4.97 g/t Au.

o Hole 17 had an interval with visible gold. Also, a lower zone from 314m returned 10m @3.81g/tAu including 6m @ 6.19g/t Au, with highest grade 1m @ 16 g/t Au.

EXECUTIVE CHAIRMAN COMMENTS

"The Mt Cannindah project has an abundance of copper there is no doubt, and in this current economic climate we should not discount the level of gold and silver contained in the results we have enjoyed in these past months. This summary highlights that there is significant gold potential at the Mt Cannindah project which aligns with the already significant copper results we are encountering. Mt Cannindah has many other target areas for both gold and copper that we intend to pursue over the coming months to augment what we are currently proving with the drilling we have underway. I look forward to more copper and more gold numbers in upcoming drilling results for the benefit of all shareholders."


About Cannindah Resources Limited

Cannindah Resources LimitedCannindah Resources Limited is an ASX-listed (ASX:CAE) Queensland, Australia-based exploration and resource development company. We are focused on copper and gold mineral exploration, evaluation, and progressing various mineral projects.

Cannindah's goal is to preserve shareholder wealth and grow the value of the flagship asset with prudent exploration methods. Our focus is to progress further exploration work at the Piccadilly Project and review the possible strategies for Mount Cannindah Project.

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Contact

Tom Pickett
Executive Chairman
T: +61-7-5557-8791



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