Cannindah outlines near-surface copper-molybdenum target with porphyry upside

Cannindah Resources (ASX: CAE) has released a near-surface exploration target of up to 114 thousand tonnes of copper equivalent within the Southern Porphyry Target Zone at its Mount Cannindah project in Queensland, confirming potential for a larger porphyry system at depth.

The new exploration target focuses on the Monument prospect, where significant copper and molybdenum mineralisation has been identified in an overlying skarn unit. Historical drilling in the area has defined a zone of mineralisation extending across an area 850 metres long by 700 metres wide, sitting within a broader Southern Porphyry Target footprint measuring 1500 metres by between 100 and 500 metres.

Based on this historical data, Cannindah has established an exploration target of 25 to 30 million tonnes at 0.2 to 0.3 percent copper and 100 to 150 parts per million molybdenum. That equates to between 64 thousand and 114 thousand tonnes of copper equivalent (CuEq) in near-surface material.

Importantly, the skarn-hosted mineralisation is interpreted as the upper or high-level expression of a deeper porphyry system, suggesting that the real prize may lie beneath. This model is supported by the presence of higher-grade pencil porphyry mineralisation observed at depth in previous drilling campaigns.

Cannindah’s latest work adds another dimension to the Mount Cannindah story, which has historically been explored for high-grade copper and gold. The Monument prospect now offers a potential bulk-tonnage copper-molybdenum system at surface, with porphyry potential at depth — a combination that could prove highly attractive in a market increasingly focused on critical minerals and long-life copper assets.

The company did not provide a timeline for further drilling but has flagged this target as a priority for follow-up. Any confirmation of deeper porphyry-style mineralisation would significantly upgrade the project's scale and strategic importance.