Cannindah Resources appointment and project update

Cannindah Resources Limited (ASX: $CAE) has appointed Michael Hansel as the interim chairman and initiated the search for a new chairman. The company is shifting its focus towards the expansion of the copper gold prospects at the Mt Cannindah project. Tom Pickett will transition from Executive Chairman to Managing Director to concentrate on enhancing the copper/gold resource. The company aims to engage in exploration activities to expand the known copper gold resource at the Mt Cannindah breccia zone and explore a new target area approximately 800m to the south. Cannindah Resources plans to update the market with exploration outcomes and engage in corporate discussions to ensure its positioning for future initiatives.

Executive commentary on company's strategic direction

The company is committed to leveraging the recent appreciation in copper pricing by expanding its exploration initiatives at the Mt Cannindah project. We are excited about the potential of the new target area identified through the IP survey and are dedicated to continuing the expansion of the Mt Cannindah breccia zone. The updated Metallurgical report has provided confidence in the production of saleable copper concentrate from the drilling samples at Mt Cannindah. We look forward to the upcoming exploration activities and are optimistic about the future prospects of the company.

Summary of Cannindah Resources announcement

Cannindah Resources Limited (ASX: $CAE) has appointed an interim chairman and is actively seeking a new chairman to support its strategic shift towards the expansion of copper gold prospects at the Mt Cannindah project. The company is enthusiastic about the new exploration target area identified approximately 800m south of the current drilling zone and aims to continue the expansion of the Mt Cannindah breccia zone. With the support of major shareholders, Cannindah Resources plans to update the market with exploration outcomes and engage in corporate discussions to ensure its preparedness for future initiatives. The company's focus on leveraging the recent copper pricing appreciation and the confidence in producing saleable copper concentrate from the drilling samples reflect its commitment to growth and development in the Queensland region.