As discussed at the Cannindah Resources Limited AGM the company has been conducting further ground based magnetic geophysical surveys at the Piccadilly project. This geophysical exploration was designed to assist in the location of the shoot controls containing potential high-grade gold mineralisation. The existence of high-grade gold mineralisation near surface has previously been identified and sampled within the Piccadilly mining lease area with grades as high as 79.4g/t Au. The survey will assist in determining the location of drilling and was commenced after further consultation with its geological consultants at Terra Search and Klondike Exploration. Sophisticated preliminary processing of the recent ground magnetic survey over the Piccadilly Gold Mine has revealed an intricate pattern of mineralised structure, host sedimentary units and faults that has never been seen before with this detail. The most significant features picked up for the first time are:several faults that are likely to have displaced gold mineralised lodes and a semi-circular overprint zone that coincides with the IP chargeability anomaly identified in previous ASX releases and may be a sulphidic zone related to a previously unrecognized mineralised buried intrusive, separate from the postulated intrusive located 1km further to the south in the La Meridian area. Ground magnetic data is now of such detail that individual gold lodes are delineated, which combined with previous gold grade information will help Cannindah Resources Limited pin down shoot control, potentially fast tracking the targeting of high-grade gold shoots. Once the report is finalised, further information and figures will be released along with an updated drilling program to be commenced post the finalisation of the continuing negotiations on funding.