Cannindah Grows Breccia Copper System with New High-Grade Strike at Mt Cannindah

Why It Matters

The strike extension and high‑grade intercepts could significantly increase copper resources in a market where supply constraints are tightening, enhancing Cannindah’s valuation and its role in Australia’s copper supply chain.

Key Takeaways

• Southern Shoot extended 50 m, adding new high‑grade zone
• Latest hole returned 26 m at 1.29 % CuEq
• Breccia deposit resource: 14.5 Mt at 1.09 % CuEq
• RC program 31 of 33 holes completed, assays from 26 holes
• Mineralisation open along strike and depth, supporting resource upgrade

Pulse Analysis

Copper prices have surged amid global supply shortages, putting Australian projects like Cannindah’s Mt Cannindah under the spotlight. The Breccia deposit, a structurally controlled breccia system in Queensland, already contributes 14.5 Mt at 1.09 % CuEq to the country’s copper portfolio. By extending the Southern Shoot by 50 m and delivering a 26‑metre, 1.29 % CuEq intercept, Cannindah demonstrates the potential to tap deeper, higher‑grade zones that could bolster domestic output and reduce reliance on imports.

The company’s aggressive reverse‑circulation (RC) drilling strategy is paying dividends. Of the 33 planned RC holes, 31 are complete and assays from 26 have revealed multiple high‑grade intervals—up to 4.93 % CuEq over six metres—within broader mineralised envelopes. These results suggest that the current resource model underestimates both width and grade, opening the door for a material uplift in the upcoming third‑quarter resource update. Increased drill data density is refining the geological understanding of the fault‑controlled breccia, allowing more accurate delineation of ore shoots and better targeting of future holes.

Looking ahead, Cannindah plans to test the southern extension of the Southern Shoot, probe depth continuity beyond 1,000 m, and explore a 2 km × 800 m porphyry target to the south. If the mineralisation remains open along the 3‑km fault strike, the project could evolve from a copper‑focused operation into a multi‑metal asset, attracting broader investment interest. The combination of robust drilling results, a clear path to resource expansion, and a favorable copper market positions Cannindah as a compelling play for investors seeking exposure to the next wave of Australian base‑metal development.