Cannindah Resources has discovered a large deposit of high-grade gold near the Wide Bay-Burnett region in Queensland.
The gold was found near the northern Wide Bay-Burnett town of Monto, not far from the company’s Mt Cannindah copper-gold-silver project.
The Monto gold discovery is being positioned as a potential gateway to investment and growth in the Wide Bay region.
As reported by the ABC, Cannindah executive chairman Tom Pickett said the company had been drilling within the region for some time and extended what mineralisation was initially thought to be under the surface.
Pickett told the ABC there were 5.5 million tonnes of minerals found at the site, with more to be explored.
“It’s significant for the region in a sense, because there’s not a lot of copper projects and gold projects of this sort of size, in (the company’s) opinion. It could be quite large, it could provide for significant job opportunities,” Pickett told the ABC.
“We’ll keep assessing the size and keep adding to that with this drill program as we continue on.”
In addition to the gold discovery, Cannindah discovered copper at Hole 18 of its Mt Cannindah project site, which is located 100km south of Gladstone, Queensland. The site has also seen extensive gold and silver discoveries recently.
The Wide Bay-Burnett region has various resources sectors, which supported 1688 local jobs and contributed $963 million to the region’s gross regional product in the 2021-22 financial year.
Queensland Exploration Council chair Kim Wainwright told the ABC the discoveries in Wide Bay-Burnett region are exciting.
“(Large discoveries) usually indicate that it’s going to progress through the exploration phase into the mining phase,” Wainwright told the ABC.