Canterbury Resources reveals positive drilling outcomes

Canterbury Resources (ASX:CBY) has reported strong results from its 2024 drilling program at the Briggs copper-molybdenum project in Central Queensland. The program has produced excellent assay results, revealing significant intervals of copper and molybdenum mineralization that surpass the Briggs deposit average. The new data from three additional drill holes indicate promising copper grades and extend the known mineralization area.

Key developments and future outlook for Canterbury Resources

Canterbury Resources Limited has achieved significant progress in its 2024 drilling program at the Briggs project. The drilling has focused on infill testing to explore higher-grade starter pit options, resulting in substantial assay results, including Hole 24BRD0029 with 243.1m at 0.22% Cu and 34 ppm Mo. The results extend the higher-grade mineralization and confirm the continuity of near-surface copper over a significant strike length. An updated mineral resource estimate is anticipated in early 2025 as part of the project’s Scoping Study. The Briggs project, under a joint venture with Alma Metals Ltd, is strategically positioned near key infrastructure and continues to show potential for further resource increases with additional drilling planned for 2025.

Executive insights on drilling success

The 2024 drilling program at Briggs has focused on infill testing the southwest margins of Briggs Central, with the aim to assess higher-grade starter pit options for a conceptual mining operation.