CAE - Cannindah Resources

[debtfree]

A good day yesterday, looks like it could even have another crack at that 0.60 cents area.

 

[Sean K]

Wow, that's a big hit.

 

[greggles]

Another big hit. Looks like CAE are really onto something at Mount Cannindah.

 

[Sean K]

Another big hit. Looks like CAE are really onto something at Mount Cannindah.

View attachment 141517

Certainly are. Just a matter of how long/wide this system is. Can you make heads or tails of the dimensions? Looks like 200x300x200 ish? x2.6 = 31Mt @1%Cu ish. So far.

 

[greggles]

Yes, those would appear to the approximate dimensions. Below is a visual interpretation of the orebody as defined by drilling to date. Looks suitable for an open pit mine. The grades are best between 183m and 194m.

Drilling is ongoing and management appear to have a good understanding of the orebody so I assume there are more encouraging assay results to come.

 

[Sean K]

Yes, those would appear to the approximate dimensions. Below is a visual interpretation of the orebody as defined by drilling to date. Looks suitable for an open pit mine. The grades are best between 183m and 194m.

Drilling is ongoing and management appear to have a good understanding of the orebody so I assume there are more encouraging assay results to come.

View attachment 143357

That's a better indication of the dimensions. I haven't seen that before, good one.

Looks like they've extended it a bit more to the NE with this.

I'll stick with my best guess dimensions for now for 200x300x200x2.6 = 31Mt @1%Cu for 310K Cu, so far. If they can double or triple that at that grade, it's a pretty good deposit. Not sure what it's comparable to.

 

[Sean K]

This is certainly turning into something. While this hole goes in the opposite direction to a couple of others, it looks like it's just intersecting the breccia similar to the others, so not too much more on the dimensions of 200x300x200.

 

[The Triangle]

With a ~$130 million market cap and virtually no money left these guys went out and raised only $2.75 million from sophisticated investors this week at 20 cents. They did $2 million back in August and $1 million in March.

Don't understand what these directors are thinking with micro-share placements. You have to spend money to get things drilled out and only spending a million or two a quarter simply isn't good enough and is a massive red flag.