Cannindah Resources has announced an upgrade to its Mount Cannindah breccia mineral resource, lifting contained copper equivalent metal by 37 per cent to 216,500 tonnes.

It comes on the back of 45 additional drill holes completed between October 2025 and July 2026.

The updated mineral resource estimate for Central Queensland project stands at 23.2 million tonnes at 0.93 per cent CuEq (0.53 per cent copper, 0.37g/t gold and 10.8g/t silver). Some 85 per cent of that tonnage is now classified in the higher-confidence Measured and Indicated categories.

Cannindah Resources (ASX: CAE) managing director and chief executive officer Cameron Switzer described it as an excellent result for all Cannindah stakeholders.

“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,” he said

Mr Switzer said the discovery of the Southern Shoot, from what began as a scout drill program in 2025, had expanded the entire breccia mineralisation into what looked like a significant investment opportunity.

“As our understanding of the controls and distribution of the mineralisation footprint increases, our confidence in the growth opportunities for future exploration activity also increases,” he said.

“We have still only tested to any detail the upper 300m of a system that has drill intersections to over 1000m and a strike length of 700m in a defined 2000m strike extent.

“This is less than 20 per cent of the total currently identified strike footprint of the breccia host structure and there is already in excess of 200Kt of defined CuEq.

“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.

“Our exploration enablers still remain the current two drill rigs and we have a strong cash balance to continue our aggressive exploration activities.”

The new resource is reported within an optimised open pit shell.

Cannindah said significant copper mineralisation had already been intersected well outside the current resource pit shell, to a depth of 1086m, including:

• 493m at 1.17 per cent CuEq (0.89 per cent copper, 0.26g/t gold, 15.2g/t silver) from surface downhole in hole 21CAEDD003,
• 341m at 1.03 per cent CuEq (0.75 per cent copper, 0.26g/t gold, 14.6g/t silver) from 58m downhole in 22CAEDD009, and
• 1022m at 0.48 per cent CuEq (0.31 per cent copper, 0.20g/t gold, 5.5g/t silver) from 64m to the end of hole in 22CAEDD011.

The company reported a cash position of $14.069 million at the end of June 2026 and said it remained fully funded to continue aggressive exploration activities.