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 full results for hole 22CAEDD010. CAE hole # 10 was designed to probe in a north westerly direction for high grade copper bearing breccia at Mt Cannindah, where previous interpretations suggested it terminated by disappearing under weakly mineralised diorite. As with the recently reported CAE hole 9, the high grade target was closed off in historical interpretations, where interesting, but scattered and discontinuous, copper intercepts present in previous drilling had been left hanging at the northern end of the breccia.

In contrast to historic drilling in this section of the deposit, CAE again took a bold approach to drill targeting with hole # 10, drilling in a completely new north west direction, aiming to link the high grade breccia mineralisation interected in CAE holes 3 and 9 and continue on to test whether the breccia system continued to the north west. These CAE holes have drilled down the long axis, but demonstrably across the layering of the Mt Cannindah breccia body. CAE hole # 10, was collared in gossanous veined infill breccia, dominated by weathered dolerite and hornfels clasts, which contains variable gold, silver mineralisation to 12.5m in the oxide zone.

Overall the oxide zone from surface returns: from 0m to 12.5m: 12.5m @ 1.04 g/t Au, 26.8 g/t Ag . Reference to the Table in Appendix 1 shows individual 0.5m half core samples of PQ core returned Gold Fire Assay of 10.92g/t, 2.24g/t, 1.23g/t, 1.02g/t Au. Likewise lab assays returned some high silvers of 2 ounce to 4 ounce Ag per tonne from individual 0.5m samples such as 123.1 g/t, 63.9 g/t, 60.7 g/t Ag.

A high grade chalcocite rich argillised diorite dominant infill breccia is present as a supergene zone from 12.5m to 24m which returned 11.5m @ 2.19 % Cu, 0.84 g/t Au, 31.5 g/t Ag. The interface between oxide and supergene zones is particularly enriched, with the 0.5m zone returning 10 ounces of silver per tonne with lab assays of 314.7 g/t Ag accompanied by 3.21 g/t Au. primary sulphidic mineralisation is manifested below the supergene zone as infill chalcopyrite, pyrite, quartz and calcite within a clast supported breccia variably dominated in sections by sericite -silica altered diorite, hornfels and porphyry clasts and blocks .

Overall this primary zone extending downhole to the north west, aggregates to 271m @ 0.98 % Cu, 0.44 g/t Au, 20.3 g/t Ag, and 4.4 % sulphur from 24m to 295m. This translates to 271m @ 1.41% CuEq. Higher grade sections of sulphidic infill, clast supported breccia occur, such as; 46m @ 1.68% Cu, 0.43 g/t Au, 29 g/t Ag,5.22 % S (43m-89m) dominated by a mixture of hornfels and diorite clasts.

44m @ 1.31% Cu, 0.3 g/t Au, 24.9 g/t Ag,4.86 % S (171m-215m) dominated by diorite clasts. 33m @ 1.29% Cu, 0.72 g/t Au, 30.7 g/t Ag,6.63 % S (243m-276m) dominated by hornfels clasts. This latter zone includes a strongly sulphidic lower zone from 269m-276m which returned 7m @ 2.07% Cu, 0.42 g/t Au, 26.7 g/t Ag,11.9 % S dominated by hornfels clasts.

A gold zone cutting hornfels occurs below the infill breccia at 287m to 295m and aggregated 8m @ 2.25 g/t Au. A high grade section returned 3m @ 5.52 g/t Au, 17.4 g/t Ag, (292m ­ 295m) with the highest 1m assay of 11.78 g/t Au. At 277m in hole 10, there is a sharp contact between chalcopyrite rich infill breccia dominated by hornfels at that point and a massive hornfels that extends down hole to 376m.

This hornfels appears to be a large block within a much more extensive breccia system, that extends to the bottom of hole # 10 as a chlorite matrix infilled clast supported breccia, more polymict in nature with blocks of hornfels, diorite and porphyry. The latter breccia is mineralised with minor pyrite, more extensive in places up to 3%, and some scattered blebs of chalcopyrite resulting in low tenor copper values through to the end of the hole. Lab assay results are awaited below 394m in hole 10.

The clast supported breccia is cut by argillised and sericitic altered diorite porphyry dykes and blocks as well as fragmental intrusive breccias referred to as "tuffisite" presenting as possible cross-cutting dykes and blocks. Some thin post-mineral andesite dykes cut the breccia. # 10 in relation to the 2021 and 2022 CAE holes in the Mt Cannindah breccia area, plotted with Cu assays.

The location of CAE holes in plan & section view in relation to historic holes is presented in Appendix 2. Cross section plots of the top 500m of hole # 10 are presented 4 as downhole Cu assays and as histograms of Cu alongside visual estimates of chalcopyrite content and in Fig 6 as Au against visual estimates of pyrite content. Further plots are in Appendix 2. In spite of CAE Hole # 10 being oriented north west, in a similar fashion to the other CAE holes, structural measurements of lithological contacts, compositional bands, and veins mostly indicate a relatively shallow to moderate dip to the east. Very few of CAE's structural measurements to date have returned a westerly dip.

The structural grain of the breccia body often runs at a high angle to the core axis of CAE # 10. As stated previously this observation suggests that the western contact of the breccia may be more of a bounding structure and not be the controlling trend of copper grades at Mt Cannindah, as was utilised in previous resource estimations . Appendix 1 present tables listing the complete Cu,Au,Ag,S assays and pyrite, chalcopyrite visual estimates for the individual metres and summarised sections of CAE hole 10.