# Cannindah grows copper resource by 37% as two rigs chase further upside Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/cannindah-grows-copper-resource-by-37-as-two-rigs-chase-further-upside--91e8c41f-d9e2-4697-8446-350b542dd6cb Original source: https://stockhead.com.au/resources/cannindah-grows-copper-resource-by-37-as-two-rigs-chase-further-upside/ Publisher: stockhead Original announcement: 2026-09-29T03:13:29.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T15:50:07.923Z Atlas analysis updated: 2026-09-29T15:50:07.923Z - Company: Cannindah Resources - Ticker: CAE - Exchange: Unavailable - Region: Queensland - Primary commodity: Copper - Secondary commodities: Gold, Silver - Document categories: Resource update, Drill results - Extracted: 2026-09-29 15:50:08 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Cannindah Resources has updated its Cannindah Breccia copper resource in Queensland, increasing contained copper equivalent by 37% to 216,500 tonnes. The updated MRE comprises 23.2 million tonnes at 0.93% CuEq, with 85% classified as measured or indicated. Reasoning: The resource grew by 37% in contained copper equivalent, with a high proportion \(85%\) in measured and indicated categories, supported by significant new drill intercepts. - Positive factor: Significant tonnage and contained metal growth - Positive factor: High M&I percentage \(85%\) - Positive factor: Strong drill intercepts outside current resource - Positive factor: Clear exploration upside along strike and at depth Facts used in scoring: 6 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: The copper resource grew by 37% compared to the previous estimate. Evidence · text > Cannindah has grown its copper resource in QLD by 37% **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: 85% of the resource is now in the higher confidence measured and indicated categories. Evidence · text > about 85% classified in the higher confidence measured and indicated categories ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Drill Results (3) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/cannindah-grows-copper-resource-by-37-as-two-rigs-chase-further-upside--91e8c41f-d9e2-4697-8446-350b542dd6cb#fact-drill-facts-3) copper Needs review: drill\_no\_hole\_id #### Identity - Commodity: copper - Region: australia\_qld - Reported Region: australia\_qld - Ticker: CAE #### Geometry - Grade: 1.17 - Grade Unit: % - Intercept: 493 m - From: 0 m - To: 493 m - Intercept Depth: 0 m #### Classification - Sample Type: drill #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Very wide and high-grade CuEq intercept from surface. - Positive factor: Significant width and grade Evidence · text > 493 metres at 1.17% CuEq from surface #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/cannindah-grows-copper-resource-by-37-as-two-rigs-chase-further-upside--91e8c41f-d9e2-4697-8446-350b542dd6cb#fact-drill-facts-4) copper Needs review: drill\_no\_hole\_id #### Identity - Commodity: copper - Region: australia\_qld - Reported Region: australia\_qld - Ticker: CAE #### Geometry - Grade: 1.03 - Grade Unit: % - Intercept: 341 m - From: 58 m - To: 399 m - Intercept Depth: 58 m #### Classification - Sample Type: drill #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Strong intercept at depth. - Positive factor: Significant width and grade Evidence · text > 341m at 1.03% CuEq from 58m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/cannindah-grows-copper-resource-by-37-as-two-rigs-chase-further-upside--91e8c41f-d9e2-4697-8446-350b542dd6cb#fact-drill-facts-5) copper Needs review: drill\_no\_hole\_id #### Identity - Commodity: copper - Region: australia\_qld - Reported Region: australia\_qld - Ticker: CAE #### Geometry - Grade: 0.48 - Grade Unit: % - Intercept: 1022 m - From: 64 m - To: 1086 m - Intercept Depth: 64 m #### Classification - Sample Type: drill #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Massive width intercept, though grade is lower. - Positive factor: Extreme width Evidence · text > 1022m at 0.48% CuEq from 64m to the end of hole #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (3) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/cannindah-grows-copper-resource-by-37-as-two-rigs-chase-further-upside--91e8c41f-d9e2-4697-8446-350b542dd6cb#fact-resource-facts-0) Cannindah Breccia · copper #### Identity - Project: Cannindah Breccia - Commodity: copper - Region: australia\_qld - Reported Region: Queensland - Ticker: CAE #### Resource scope - Estimate type: resource - Resource group id: resource:c53251e04d44e1c6e2dd - Deposit or zone: Cannindah Breccia - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 23200000 - Grade: 0.53 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.93 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Significant resource expansion with high geological confidence. - Positive factor: 37% growth in contained metal - Positive factor: 85% M&I confidence Evidence · text > updated mineral resource estimate \(MRE\) now stands at 23.2 million tonnes at 0.93% copper equivalent \(CuEq\), with about 85% classified in the higher confidence measured and indicated categories #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/cannindah-grows-copper-resource-by-37-as-two-rigs-chase-further-upside--91e8c41f-d9e2-4697-8446-350b542dd6cb#fact-resource-facts-1) Cannindah Breccia · gold #### Identity - Project: Cannindah Breccia - Commodity: gold - Region: australia\_qld - Reported Region: Queensland - Ticker: CAE #### Resource scope - Estimate type: resource - Resource group id: resource:c53251e04d44e1c6e2dd - Deposit or zone: Cannindah Breccia - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 23200000 - Grade: 0.37 - Grade Unit: g/t - Cutoff Grade: 0.3 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.93 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Gold is a secondary component of the CuEq resource. Evidence · text > 23.2Mt at 0.53% copper, 0.37g/t gold and 10.8g/t silver #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/cannindah-grows-copper-resource-by-37-as-two-rigs-chase-further-upside--91e8c41f-d9e2-4697-8446-350b542dd6cb#fact-resource-facts-2) Cannindah Breccia · silver #### Identity - Project: Cannindah Breccia - Commodity: silver - Region: australia\_qld - Reported Region: Queensland - Ticker: CAE #### Resource scope - Estimate type: resource - Resource group id: resource:c53251e04d44e1c6e2dd - Deposit or zone: Cannindah Breccia - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 23200000 - Grade: 10.8 - Grade Unit: g/t - Cutoff Grade: 0.3 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.93 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Silver is a secondary component of the CuEq resource. Evidence · text > 23.2Mt at 0.53% copper, 0.37g/t gold and 10.8g/t silver #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.