Cannindah bolsters Mt Cannindah push with new exploration chief

Cannindah Resources Limited ( (AU:CAE) ) has shared an update.

Cannindah Resources has appointed veteran geologist Chris Chambers as Exploration Manager, adding more than three decades of global experience in porphyry-related, intrusive-related and epithermal mineral systems to its leadership team. Management said his track record in discovery and project delivery is expected to strengthen the company’s capacity to advance the discovery and delineation phase at its flagship Mt Cannindah project.

The Mt Cannindah project hosts at least 17 significant copper, gold and molybdenum occurrences associated with a classically zoned Triassic porphyry system, and modern drilling since 2021 has already delivered an updated mineral resource estimate at the Cannindah Breccia. Cannindah is now pursuing resource expansion drilling targeting a higher-grade “GAP” zone within the breccia, positioning the company to potentially grow its copper-equivalent inventory and enhance the economic outlook of the project for stakeholders.

The most recent analyst rating on (AU:CAE) stock is a Sell with a A$0.05 price target. To see the full list of analyst forecasts on Cannindah Resources Limited stock, see the AU:CAE Stock Forecast page.

More about Cannindah Resources Limited

Cannindah Resources Ltd is an Australian mineral exploration company focused on copper, gold and molybdenum, with its flagship 100%-owned Mt Cannindah Copper-Gold Project located in central Queensland. The project comprises multiple mining leases and exploration permits over a historically mined, porphyry-related hydrothermal system hosting numerous copper, gold and molybdenum prospects.

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Technical Sentiment Signal: Buy

Current Market Cap: A$63.89M

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