ASX: CAE - Cannindah Resources
- Matt Birney
- 3 days ago
- 3 min read
Cannindah Resources: Another huge copper-gold intersection … outside of the existing resource!
Cannindah Resources Managing Director Tom Pickett on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
Listen to ASX-listed Cannindah Resources Managing Director Tom Pickett talk to Matt Birney on the Bulls N’ Bears Report about Cannindah’s seemingly never-ending stream of seriously long copper-gold drill intersections.
TO LISTEN TO THE CANNINDAH RESOURCES AUDIO INTERVIEW - CLICK BELOW
Cannindah Resources is rapidly moving its Mt Cannindah copper gold project in Queensland towards development. The project is revered for its crazy long mineralised drill intersections that kick off right from surface and extend to the depths of the earth. Management has already tabled a resource at the project and is now working furiously to extend it and this week most likely managed to do just that, with yet another remarkably long mineralised drill hit outside of the existing resource.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls and Bears brought to you today by copper-gold explorer Cannindah Resources.
Matt Birney - ASX code: CAE
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Cannindah Resources, Tom Pickett.
Matt Birney - Hi Tom
Tom Pickett - Hi Matt
Matt Birney - Okay so Cannindah is rapidly moving its Mt Cannindah copper-gold project in Queensland towards development. The project is revered for its crazy long mineralised drill intersections that kick off right from surface and extend pretty much to the depths of the earth. Management has already tabled a resource at the project and is now working to furiously extend it and this week most likely managed to do just that, with yet another remarkably long mineralised drill hit outside of the existing resource.
Matt Birney - All right Tom we'll get to that new drill result shortly, but firstly what's the existing resource at your Mt Cannindah copper-gold project now?
Tom Pickett - Yeah thanks Matt the existing resource is 14 and a half million tonnes at 1.09% copper equivalent. That's up from 5 and a half million tonnes previously. Importantly 88% of that is classified in the higher confidence categories of measured and indicated, so it was an excellent result, increased the gold ounces by 229% and the copper metal by 117% on that previous resource for 158,000 tonnes of contained copper metal.
Matt Birney - Okay so hit me with the latest drill result which I understand is outside of that resource.
Tom Pickett - Yeah the latest drill result was from hole 24, that did start inside the resource area, came outside of the resource at about 278 meters. That got 71 meters at 0.95% copper equivalent, a great intercept and that was contained within a broader 274 meters at 0.49% copper equivalent.
Matt Birney - Gold's on fire at the moment, is there much gold in this thing?
Tom Pickett - We did hit some good gold, yeah we got a meter over an ounce so 31.07 grams per tonne which was excellent, there was a bit of visible gold in that which is rare to see and another meter over five grams per tonne so yeah good good gold zone developing across the project as well.
Matt Birney - What did this latest drill hole tell you geologically? What insights did it provide?
Tom Pickett - Well it filled gaps in the data so we drilled between hole 13 and 19, there was a big gap there in the resource so we filled that gap and obviously we got excellent copper and good gold in there so that was important for us to do to make sure we filled the data set and obviously it will improve the resource going forward. It also told us that there was continuing mineralization outside of the resource envelope, which is important to know.
Matt Birney - One of the hallmarks of this project is its ridiculously long mineralized intersections, just for fun why don't you give me the best two results to date?
Tom Pickett - Yeah hole three got 493 meters at 1.17% copper equivalent and that was a massive hole and hole 10 got 295 meters at 1.45% copper equivalent again, another massive hole but there's been hundreds of meters along the way.
Matt Birney - I note Tony Rivera from Azure Minerals has just joined your board so well done to you.
Matt Birney - Tom Pickett from Cannindah Resources.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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