Cannindah Resources Expands, Extends Mineralization at Queensland Project; Shares Rise 3%

MT Newswires Live11:20

Cannindah Resources (ASX:CAE) expanded and extended the Southern shoot at the Cannindah Breccia deposit, part of the Mt Cannindah project in Queensland, by a further 50 meters following results from recent drilling, according to a Wednesday Australian bourse filing.

It encountered an intercept of 26 meters at 1.29% grade of copper-equivalent, including 0.27 grams per tonne grade of gold and 0.92% copper from 192 meters. An additional hole is currently being drilled to drill through the entire mineralized zone.

Recent drilling in the Northern shoot targeting data gaps in the current mineral resource estimate also returned strong results, including 26 meters at 1.64% grade of copper-equivalent, including 0.24 g/t grade of gold and 1.28% copper, from 112 meters.

Its shares rose 3% in recent trading on Wednesday.

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