Cannindah Resources Limited has interests in four Queensland projects, with a current focus on the Mt Cannindah Cu-Au project and the Piccadilly Au project.
Flagship Mount Cannindah Copper-Gold Project, 100km south of Gladstone
• Large gold bearing porphyry copper system with significant depth and regional potential
• Total resources at the Mount Cannindah prospect only of 5.5Mt @ 0.92% Cu, 0.34g/t Au & 14.9g/t Ag
• Future exploration will focus on a potential extension of the known resource at the Mt Cannindah prospect area to the North along with a copper zone in the Southern copper skarn unit, less than 2km from known resource and still within granted mining leases. A further possible extension of this skarn area into the EPMs to the south has been identified and is also the focus of near term exploration activity. A previously undetected gold system has been located near the Little Wonder prospect which will also be investigated further to establish whether it extends along a possible strike of up to 1km.
Piccadilly Gold Project, 60km north of Charters Towers
• Agreement to explore and mine ML1442, as well as recent earn-in agreement to access surrounding EMPs
• Ore purchase agreement with Minjar Gold to purchase ore resulting from exploratory mining within ML1442
• To date, target areas have returned exceptionally high grade Au samples, with the highest being 79.4g/t
• Investigations revealed large areas not originally thought to be mineralised in fact showed grades of 9.44g/t and similar
• Geologically modeled intrusive related gold system target located within 1.5km of mining lease area, and thought to be the possible source of the mining area’s mineralisation. Plans underway to explore this possibility
Mount Borium Gold Project, 20km north of Kidston*
• Located between the historic Kidston gold mine and Einasleigh copper mine
• Highly mineralised gold-bearing porphyry system
• A 7-hole RC drill program was completed in December 2012 with results confirming the project’s prospectivity.
• A comprehensve geophysical review of key areas within the project area has identified a significant porphyry copper target at Arthur’s Gully. Nearby soil sampling and RAB drill results confirm the presence of gold-copper mineralisation.
Oak River Uranium-Gold Project, adjacent to Mount Borium*
• Field work has confirmed presence of Uranium mineralisation
• Planet is seeking a JV partner for this project
*Cannindah Resources Limited is looking to find joint venture partners for these non-core projects