Cannindah Resources (ASX:CAE) said assays from the 2025 reverse circulation reconnaissance drilling intersected broad zones of copper and gold mineralization at the Southern Porphyry target in the Mt. Cannindah project in Queensland, according to a Thursday Australian bourse filing.
The company encountered intercepts of 148 meters at 0.3% grade of copper-equivalent, including 0.2 grams per tonne (g/t) grade of gold and 0.1% grade of copper from 112 meters, as well as 172 meters at 0.2% grade of copper-equivalent, including 0.04 g/t grade of gold and 0.1% grade of copper from 118 meters.
The company's shares fell past 2% in recent trading on Thursday.
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