Cannindah Resources Limited announced the next set of completed assay results from the drilling program currently underway at Mt Cannindah, copper gold silver project south of Gladstone near Monto in central Queensland pertaining to hole 22CAEDD015 (final depth 486.66m) and hole 22CAEDD016 (final depth 618.57m). The most significant results were obtained in hole 22CAEDD016, see location plan Fig 4. Drilling hole # 16 in a north to south direction (ie. right angles to the majority of the previous drilling), has demonstrated that the mineralized zone at the northern section of the Mt Cannindah deposit is a robust high grade copper (gold, silver) rich breccia body.

This is one of the higher grade portions of a larger resource that has significant potential to be expanded. The northern, high grade, diorite dominated, breccia has now been drilled from 4 directions, all of which have returned 100m plus thick, downhole intersections, grading well over 1% CuEq. At 159m in CAE Hole #16 the vein fracture network within diorite has a sharp contact with hydrothermal infill breccia, dominated by angular clasts of sericite altered diorite with common coarse infill of quartz, calcite,-pyrite and chalcopyrite.

The infill breccia is strongly sulphidic throughout: containing 4% - 8 % pyrite, 1.5% to 7% chalcopyrite between 159m and 246m ­ see Figs 6 to 9. Lesser sulphide is contained in the hydrothermal infill breccia between 246nm and 295m (1.5% pyrite, 0.5% chalcopyrite).