Quarterly Activities Report
Brisbane, April 28, 2023 AEST (ABN Newswire) - Cannindah Resources Limited (ASX:CAE) is pleased to provide the Quarterly Activities Report to March 2023.
- Drilling success continued with holes 15,16,17, and 18 being completed during the quarter with some stunning results amongst them.
- Hole 15 encountered a dyke however still returned interesting copper and gold. Hole 16 encountered evidence of large-scale porphyry affinities. On top of this a breccia zone with 155m @ 1.12%CuEq was outlined which included a high-grade zone over 74m @ 2.04%CuEq (see ASX release dated 14 February 2023)
- Hole 17 was also successful in encountering significant copper and gold results high grade gold 6m @ 6.19g/t Au and 55m @ 0.89%Cu. (see ASX release 9th March)
- The ASX release on the 21st March 2023 outlined a summary of excellent gold and silver results on top of copper in the drilling program to date.
- Hole 18 was a standout from a gold perspective showing 67m @ 1.96g/t Au including 18m @ 6.34g/t Au which also included strong copper numbers (see ASX release 23rd March 2023).
- During the quarter the company also successfully raised $2.75m
- These holes have provided a great deal of upside in exploration across the south-west area which remains very much underexplored but has been substantially improved recently by CAE exploration activity. CAE intends to exploit this upside potential with further drilling in this area. Hole 19 has now been completed and is awaiting assay and hole 20 is underway.
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About Cannindah Resources Limited
Cannindah 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.
Cannindah Resources Limited