InvestSMART

Cannindah Resources Limited (ASX:CAE)

ALERT: Price-sensitive ASX Announcement for CAE
Current share price for CAE : $0.030 -0.014 (-31.40%)+
Announcement
Release
29 Apr 2026 8:14AM
Price at Release
$0.043
Full Release
download
Summary
Cannindah Resources Limited has identified significant upside potential at its Cannindah Breccia copper-gold deposit, with a current Mineral Resource Estimate of 14.5Mt at 1.09% CuEq. The company plans to expand this resource through additional drilling, targeting high priority areas for resource growth. The Southern Shoot within the deposit, with a 94m intersection at 1.11% CuEq, is a key growth driver and remains open. Cannindah aims to enhance its resource estimates by addressing incomplete historical data and advancing its drilling program, supported by its well-funded exploration efforts.
Key Points
  • Cannindah Resources Limited is focusing on expanding the resource at the Cannindah Breccia copper-gold deposit.
  • The current Mineral Resource Estimate (MRE) is 14.5Mt at 1.09% CuEq.
  • Historical drilling data was incomplete, providing an opportunity for significant resource growth.
  • The company is planning to drill an additional 17 holes to test high priority resource growth targets.
  • There is significant upside potential at the Cannindah Breccia with the Southern Shoot being a key growth driver.
  • The Southern Shoot remains open with a 94m intersection at 1.11% CuEq.
  • Cannindah Resources is well funded to continue exploration with multiple drill rigs.
  • An updated MRE is planned following the completion of the current drill program.
  • The Cannindah Breccia is part of a major NNE trending structure with potential mineral extensions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.