Cannindah Resources has shifted from single-rig operations to a two-rig setup at the 100% owned Mt Cannindah Copper-Gold Project in Queensland, deploying a second diamond drill rig to site to accelerate resource expansion drilling.

The ongoing reverse circulation and diamond core drilling program marks a significant shift from the previous Mineral Resource Estimate position established in July 2024, which evaluated the Cannindah Breccia at 14.5Mt at 1.09% CuEq using earlier data. The upcoming Mineral Resource Estimate update, scheduled for release by the end of September 2026, will incorporate data from an additional 45 drill holes completed across 2025 and 2026.

Ongoing drilling continues to return substantial intersections of copper-gold mineralisation outside of the existing model. Mineralised intersection widths are typically greater than previously modelled, primarily due to historical sampling restrictions and sub-optimal drilling orientations. The latest data confirms that the Cannindah Breccia deposit remains open both along strike to the south and down dip, indicating strong potential for additional future uplifts in mineral resources.

To support these extensions, 16 reverse circulation pre-collars have been drilled targeting depth and strike extensions to the resource. Both diamond rigs are now actively drilling diamond tails into these strategic targets.

The updated Mineral Resource Estimate will incorporate updated recovery metallurgical inputs based on initial results from 2026 testwork. The resource is planned to be reported within optimised open-pit shells incorporating nominal mining rates, mining costs, processing costs including administration, state royalties, concentrate payabilities and costs, and metal pricing inputs based on 24-month rolling averages. Upon receipt of data following the completion of the MRE, future exploration activities will also include the evaluation of the Cannindah Breccia mineralisation from an underground extraction perspective, following open-pit extraction.

"The mobilisation of a second diamond drill rig to site is accelerating the definition of additional mineralisation along strike and at depth, providing further input for potential extensions to the updated Breccia MRE which is due to be completed by the end of September," stated Managing Director and CEO Cameron Switzer.

Read the full announcement: Cannindah Breccia Exploration Update