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The latest update is out from Cannindah Resources Limited ( (AU:CAE) ).
Cannindah Resources has reported substantial high-grade gold and copper intersections from its first deep reverse circulation drilling at the Southern Porphyry Target at Mt Cannindah, highlighted by a 28m interval grading 1.15% copper equivalent that ended in mineralisation and is interpreted as the upper levels of a significant porphyry copper-gold system. Results from the first four of nine holes confirm the presence of a large, metalliferous copper-gold system with classic grade shells and mineral zonation over a surface footprint exceeding 2,000m by 800m, supporting the company’s geological model and justifying further targeted deep drilling that could materially enhance the project’s resource potential and Cannindah’s positioning in the Australian copper-gold exploration sector.
The most recent analyst rating on (AU:CAE) stock is a Hold with a A$0.04 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 Limited is an ASX-listed exploration and mining company focused on copper-gold porphyry systems in Australia, with current activities concentrated on the Mt Cannindah project in Queensland. The company is advancing multiple targets within its granted mining leases, including breccia extensions and porphyry-related copper-gold systems, aiming to delineate significant Cu-Au-Ag-Mo mineral resources.
Average Trading Volume: 691,866
Technical Sentiment Signal: Sell
Current Market Cap: A$46.42M
Learn more about CAE stock on TipRanks’ Stock Analysis page.