Cannindah Resources Ltd. has reported a 37 per cent increase in contained copper equivalent metal at its Mt Cannindah project in southeast Queensland.
The updated mineral resource estimate (MRE) for the Cannindah Breccia deposit has expanded to 23.2 million tonnes at 0.93 per cent copper equivalent (CuEq), grading 0.53 per cent copper, 0.37 grams per tonne (g/t) gold, and 10.8 grams per tonne silver. Total contained metal now stands at 216,500 tonnes of CuEq.
The upgrade reflects data incorporated from 45 new drill holes completed between late 2025 and July 2026. Higher confidence geological modelling has elevated 85 per cent of the total resource into the Measured and Indicated categories.
The resource is constrained within optimised open-pit shells down to a depth of 330 metres below surface, using metal price assumptions of US$10,700 (AU$15,346) per tonne for copper, US$3,450 per ounce for gold, and US$46 per ounce for silver.
“This updated mineral resource containing 216Kt of CuEq metal significantly upgrades the project, provides a positive path for the project moving forward and clearly outlines target upside for future drill testing and resource extensions,” said CEO Cameron Switzer.
Switzer noted that drilling has tested less than 20 per cent of the total 2,000-metre identified strike footprint of the host structure. Significant copper mineralisation has already been intersected below the current resource pit shell to depths exceeding 1,000 metres, including historic intercepts of 493 metres at 1.17 per cent CuEq from surface.
“Our strategy moving forward is clear. Unlock the full potential of this emerging breccia copper-gold system while we continue to understand the greater porphyry prize,” Switzer said.
Backed by a cash position of AU$14.07 million at the end of June, the company currently has two drill rigs operating on site to test immediate extensions along strike to the south and at depth.
Assays remain outstanding for eight completed holes.