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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.

2018

100KM SOUTH OF GLADSTONE, QLD.

Project Highlights

  • Significant of historical copper and gold intercepts at Mt Cannindah including 82m @ 2.32% Cu, 0.88 g/t Au and 42.1 g/t Ag, along with 36m @ 8.65 g/t Au and 52m @ 4.90g/t Au.
  • The existing JORC resource for the main Mt Cannindah mine portion of the project, determined in 2011 at 5.5Mt @ 0.93% Cu.
  • Previous geological interpretation of key targets within this gold earing porphyry copper system reveals similarities to the style of mineralisation at Newcrest’s Cadia and Ridgeway Cu/Au deposits in NSW.
  • In October 2021, the company recorded 282m @ 0.94% Cu, 0.3g/t Au, 19g/t Ag (1.28% CuEq) from new drilling.

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.

Historical drilling within the area of Mt Cannindah North returned very interesting gold grades worthy of further investigation as it relates to the gold system at Mt Cannindah, such as QMCMDD025 (20cm @ 46.4 g/t Au & 98.2 g/t Ag at 245m), in QMCMRC016 (2m @ 2.54 g/t Au, 8.9 g/t Ag & 0.39% Cu from 16 to 18m, and 3m @ 5.28 g/t Au, 7.2 g/t Ag & 0.32% Cu from 25-28m) and in RC53 (4m @ 1.8 g/t Au from 116 to 120m), and in CM21 (10m @ 2.29 g/t Au, 12.6 g/t Ag & 0.33% Cu from 12 to 22m).

The company also commenced a new 1,450m drilling program in August 2021. The first drill hole of the program encountered thick, high grade copper-gold-silver mineralisation which assayed 282m @ 0.94% Cu, 0.3g/t Au, 19g/t Ag – or 282m @ 1.28% Cu Eq. This includes near surface (0-34m), partially mined out supergene sections assaying 2m @ 6.24% Cu and 2m @ 3.42% Cu.

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