Providing exposure to potential Tier-1 mineral assets

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Canterbury Resources Limited (ASX code: CBY)

Canterbury Resources Ltd is an emerging resource company focused on creating shareholder wealth by generating, exploring and monetising potential Tier-1 copper-gold projects in the southwest Pacific, and has established a strong portfolio of projects in Australia, Papua New Guinea and Vanuatu that are prospective for porphyry copper-gold and epithermal gold-silver deposits. The Company is managed by an experienced team of resource professionals, with a strong track record of exploration success and mine development in the region.

Canterbury’s 2019 plans include drilling programs at three of its more advanced assets – the Briggs porphyry copper project in Queensland, plus the Ekoato and Bismarck porphyry copper-gold projects in Papua New Guinea. Each program provides the potential for the discovery and/or delineation of a large-scale copper (±gold) resource. The 100% owned Briggs and Ekoato prospects are being managed and funded by Canterbury, while the Bismarck Project is currently being managed and sole-funded by Rio Tinto Exploration (PNG) Limited as part of a Farm-In and Joint Venture Agreement.

IN AUSTRALIA,

Canterbury holds the Briggs & Mannersley Projects, acquired from Rio Tinto in 2017 (Rio Tinto retains back-in rights in the event of a major discovery), plus the Fig Tree Hill Project. The Projects are located inland from Gladstone in one of the most important porphyry belts in Queensland and are prospective for large scale porphyry copper mineralisation. At Briggs, the Company is achieving very encouraging drill results testing a large copper porphyry system, including higher grade features.

IN PAPUA NEW GUINEA,

a large strategic tenement position has been established at the Ekuti Range Project, where historic explorers outlined extensive surface copper-gold mineralisation and completed limited drilling of narrow, high grade structures. These structures are distal to a series of large scale porphyry targets, including the Ekoato prospect where drilling by Canterbury has encountered high grade gold-copper mineralisation. Canterbury also holds two tenements on Manus Island where partner Rio Tinto has earned a 60% joint venture interest and has the right to increase its equity to 80% during Stage-2 by sole-funding further exploration. Work to date has identified large-scale buried porphyry copper-gold targets that will be drill tested in the near term. In addition, Canterbury owns the Ipi River Project covering porphyry copper-gold systems where compelling IP targets have been identified, but are yet to be drill tested.

IN VANUATU,

a strategic portfolio has been established covering areas that display many geological similarities to the rich Hauraki Goldfield in NZ, but has received minimal attention from past explorers. An exciting drill target has been generated at the Tafuse epithermal gold prospect.

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