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, and to explore surrounding EMPs
• 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
• Following the discovery of a suspected link between the intrusive related gold system and the mining lease, negotiations are underway to explore the surrounding area
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