Cannindah Resources Limited
Cannindah Resources Limited is an ASX-listed (ASX:CAE) exploration and resource development company with a focus on copper and gold.
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.
Mt Cannindah Project
The Mt Cannindah Project represents a large (greater than 9km2) high level porphyry style Cu-Mo-Au mineralised system. Of particular interest is the potential for gold mineralisation within the existing mining lease area which has previously been underexplored on top of its existing resource. Geological interpretation of key targets within this gold bearing porphyry copper system reveal similarities to the style of mineralisation at Newcrest’s Cadia and Ridgeway Cu/Au deposits in NSW.
The Piccadilly Project’s geological setting has been described as being similar to the multimillion ounce Kidston gold project in North QLD. Significant exploration completed to date has identified a large intrusive related gold system target at Piccadilly. To date, target areas have returned exceptionally high-grade Au samples, with the highest being 79.4 g/t Au. Investigations revealed large areas not originally thought to be mineralised in fact showed grades of 9.44 g/t Au and similar.