Cannon Resources Limited announced that it has received assay results from 5 Camelwood holes from the recent 2021 diamond drilling campaign at the Company's Fisher East Nickel Project. Two holes were drilled at depth, down-plunge and to the south of the main resource to test for extensions along the interpreted primary mineralisation trends. Both holes (MFED090 and MFED094) intersected massive and disseminated nickel sulphides at the basal komatiite - footwall contact.

Hole MFED090 intersected 4.67m @ 2.31% nickel from 434.33m and hole MFED094 intersected 0.71m @ 3.26% nickel from 728.85m. The latest drilling confirms that mineralisation along the southern margin of the Camelwood resource remains open and extension to the south is the most prospective zone for further drilling and resource growth. A total of 5 holes were drilled at Camelwood as part of Cannon's 2021 Fisher East diamond drilling campaign.

The drilling targeted peripheral areas and potential extensions to mineralisation, and at the same time was designed to help resolve primary controls on mineralisation. The holes were split into 2 groups and were located according to separate targeting strategies. Two deeper holes testing the southern down plunge extension to the interpreted primary plunge.

At this stage this is interpreted to be two separate trends based on mineralogical and geophysical data. However, it is entirely possible and reasonable to envisage one southern plunge. Further drilling will help resolve this question.

Shallow infill at the northern extremity of the resource outline. Whilst strike potential in this area appears to be limited, 2 of these holes were opportunistically located as diamond tails on existing historical RC holes (MFED091 and MFED092). These host RC holes had terminated in mineralisation so extending them provided a cost-effective method to test this northern area.