Hi Rick,
I recommend to export the announcement list web part from the sub site and then add it to the page where the Content Query web part exists and then use code to hide the items parts.
How to export and import the announcement list web part, please refer to the link below(remember to change the webid to be the webid of the sub site):
http://techtrainingnotes.blogspot.com/2009/03/sharepoint-one-library-multiple-sites.html
https://alexandrebarault.wordpress.com/tag/get-webid/
http://www.learningsharepoint.com/2010/11/12/sharepoint-2010-how-to-exportimport-a-webpart/
After adding the announcement list web part to the corresponding page, add the Content Editor web part to the page too.
Add the code below to the Content Editor web part:
<style>
.ms-listviewtable{
display:none;
}
</style>
After that, the page will display the web part like below image shows and only users who have permission to create items in the announcement list can view the link:
Thanks,
Victoria
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