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 About Planet Metals LimitedProjects and Operations |
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| Mount Cannindah Copper-Gold Project (PMQ 100%) | |
Located approximately 100km south of Gladstone, Mount Cannindah is a large gold bearing porphyry copper system with numerous highly prospective exploration targets. First discovered in 1895, it has been estimated that some 1,000 tonnes of copper and 30,000 ounces of gold have historically been worked from the fields.
Planet Metals holds 9 Mining Leases (covering 5.7km2) and 2 Exploration Permits (100km2) with the MLs valid until 2023. The following resource estimate was undertaken by independent consultants, Golder Associates Pty Ltd based on results from a 42 hole drilling program conducted by Planet Metals:
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| Measured Resources |
5.57Mt @ 0.95% Cu, 0.41g/t Au and 16g/t Ag |
| Inferred Resources | 1.9Mt @ 1.0% Cu, 0.3g/t Au and 14g/t Ag |
| Total | 7.47Mt @ 0.97% Cu, 0.38g/t Au and 15g/t Ag |
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This resource estimate is appropriate for an open pit mining scenario with processing for flotation (possibly with an upfront gravity circuit for gold recovery) with a conventional rougher-cleaner circuit.
Recent findings and geological interpretations have identified a new model for the development of mineralisation at Mount Cannindah and, as such, has opened up a significant new exploration target.
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Encouraging similarities to Newcrest Mining’s Ridgeway deposit at Cadia, near Orange (NSW) has focused attention on the depth potential of Mount Cannindah’s mineralisation. A drill program to test this potential commenced in August 2010.
 | | Mt Cannindah Location Map & Regional Prospects |
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|  | | Core from 2007 drilling programme |
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