Cannindah Resources Limited announced the next set of completed assay results from the drilling program currently underway at the Mt Cannindah copper gold silver project south of Gladstone near Monto in central Queensland pertaining to full results for holes 22CAEDD009 (CAE hole 9, CAE # 9). CAE hole # 9 was designed to explore the northern end of the Mt Cannindah deposit for high grade copper bearing breccia, where previous interpretations suggested it terminated by disappearing under weakly mineralised diorite. The high grade target is essentially blind in this area with interesting but scattered and discontinuous copper intercepts present in previous drilling.

In contrast to historic drilling in this section of the deposit, CAE # 9 was drilled from east to west. The plan was to replicate the exploration success of CAE holes # 2, 3, 7 and 8 which were drilled in a similar contrary fashion, all encountering long intercepts of high grade copper, gold, silver mineralisation. These holes drill down the long axis, but demonstrably across the layering of the breccia body.

CAE hole # 9, was collared in gossanous veined diorite which contains variable but low grade gold and silver mineralisation in oxidised sections (to 14m). Low grade copper mineralisation occurs in sulphide veined, chloritic diorite until 61m. At this point, there is a sharp contact with strongly sericitic and argillic altered, bleached, diorite dominated breccia, containing abundant pyrite and chalcopyrite.

Long intervals of spectacular infill breccia, containing high grade copper are present down to 399m. Significant Copper Zones within the hydrothermal infill breccia include: 39m @ 1.48% CuEq from 61m (1.08% Cu, 0.32 g/t Au, 25.6 g/t Ag); 102m @ 1.58% CuEq from 160m (1.23% Cu, 0.28 g/t Au, 22.0g/t Ag); 64m @ 1.02% CuEq from 335m (0.81% Cu, 0.21 g/t Au, 11.0g/t Ag). A significant gold zone occurs below the high grade copper: 14m @ 1.65 g/t Au from 287m (0.32% Cu, 22.0g/t Ag, 1.5% CuEq).

The major rock type below 400m is clast supported breccia. This breccia is polymict in nature, with dominant clasts of hornfels, altered porphyry and diorite. Intervals containing abundant pyrite infill between the clasts are common throughout the lower part of hole # 9. The clast supported breccia is cut by highly argillic and sericitic altered diorite porphyry dykes and fragmental intrusive breccias referred to as tuffisite presenting as cross-cutting dykes and possible layer conformable sills.

Some thin post-mineral andesite dykes cut the breccia. Copper mineralisation with associated gold and silver, is intermittently developed in hydrothermal infill breccia, all the way down from 400m to the end of hole # 9 at 877.6m. Although mostly of moderate tenor, an indication of the extent of mineralisation can be gauged by aggregating all the mineralistion over the length of hole 9 which returns 877.6m at 0.48% CuEq.

The mineralised sulphidic nature of this hole is evident from base of oxidation (14m) to the end of hole which returns 860m @ 2.8% sulphur, which manifests throughout most of the length of the hole as 2% to 10% pyrite and in the copper rich sections 1% to 5% chalcopyrite. Significant intersections below 400m occur at: 461m to 539m: 78m @ 0.15% CuEq (0.12 Cu%) which includes 470m to 476m: 6m @ 0.29% CuEq (0.24 Cu%); 628m to 652m: 24m @ 0.48% CuEq (0.37 Cu%); 667m to 679m: 12m @ 0.29% CuEq (0.16 Cu%); 688m to 689m: 1m @ 2.3 g/t Au; 715m to 781m: 66m @ 0.16% CuEq (0.11 Cu%) which includes 719m to 721m: 2m @ 0.34% CuEq (0.26 Cu%) and also includes 759m to 776m: 17m @ 0.30% CuEq (0.27 Cu%); 815m to 817m: 2m @ 0.62% CuEq (0.48 Cu%); 829m to 830m: 1m @ 0.26% CuEq (0.22Cu%). CAE hole # 9 ended at 877.6m in pyritic altered diorite which assays 0.14 g/t Au .