Overview of Canterbury Resources Limited's activities

Canterbury Resources Limited (ASX: $CBY) has released its Quarterly Activities Report for the Period Ending 31 March 2024. The report highlights the progress made at the Briggs Copper Project in Queensland and the upcoming drill program at the Bismarck Project in Papua New Guinea. Canterbury Resources Limited is pleased to provide an update on its operational activities and the status of its joint venture partnerships with Alma Metals Ltd and Rio Tinto Exploration (PNG) Ltd.

Executive Commentary on Operational Activities

The recent assay results have confirmed the presence of enhanced copper grades in the zone straddling the contact between the granodiorite intrusion at Briggs and the surrounding volcanic sediments. This is a significant development as it extends from the surface to planned down-hole depths. The upcoming drill program at Briggs is expected to test potential higher-grade zones along the southwest margin of the Central Porphyry, supporting an upgrade to the Indicated category for part of the resource. Additionally, exploration drilling is planned at the Southern Porphyry target, which has a strong surface geochemical signature but limited historical drilling. The drill core from the 2024 program will also provide material for metallurgical test-work, a precursor to a scoping study planned for the second half of 2024.

Summary of Quarterly Activities and Outlook

Canterbury Resources Limited has made significant progress in its operational activities, particularly at the Briggs Copper Project and the upcoming drill program at the Bismarck Project. The confirmation of enhanced copper grades at Briggs and the planned drill program signify positive developments for the company. The company's joint venture partnerships with Alma Metals Ltd and Rio Tinto Exploration (PNG) Ltd continue to support the funding and exploration of key projects. With ongoing assessment of potential extensions and repetitions of mineral resources, reconnaissance of new tenements, and planned drilling at various targets, Canterbury Resources Limited remains focused on advancing its projects. The upcoming scoping study and the continued exploration activities reflect the company's ambitions to further develop its resource base and potentially enhance project revenue. The company's outlook appears promising as it continues to pursue its corporate strategy and exploration initiatives in the region.