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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 and exploring potential Tier-1 copper-gold projects in the southwest Pacific, and has established a strong portfolio of projects in Australia and Papua New Guinea that are prospective for porphyry related copper-gold 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 exploration focus is on several advanced assets that are at the drill testing phase – the Briggs copper project in Queensland, plus the Wamum, Ekuti Range and Bismarck copper-gold projects in Papua New Guinea. Each project provides the potential for delineating large-scale copper (±gold, ±molybdenum) deposits and significant resources have already been established at the Central Porphyry Zone (Briggs), and at the Idzan Creek and Wamum Creek deposits (Wamum).

Canterbury’s strategy to generate potential Tier-1 projects and utilise partnerships to provide funding support is proving successful. The Bismarck project is being managed and sole-funded by Rio Tinto under a Farm-in and Joint Venture Agreement, and the Briggs project is being funded by Alma Metals under an exclusive option arrangement.

IN AUSTRALIA,

Canterbury holds the Briggs and Mannersley tenements (Rio Tinto 1.5% NSR), plus the surrounding Fig Tree Hill tenement. This region is prospective for large scale porphyry copper (±gold, ±molybdenum) mineralisation. At Briggs, a large, low-grade copper system (142.8Mt at 0.29% Cu) has been outlined and further drill testing is being undertaken under an option deal with Alma Metals, aimed at expanding and enhancing the resource.

The Company also has the Peenam Project where historic exploration included shallow drilling that encountered significant Cu-Au mineralization. Canterbury interprets past exploration as having tested the outer margins of a mineralized porphyry system, with substantial untested potential at depth and along strike.

IN PAPUA NEW GUINEA,

strategic tenements are in a region that includes the massive Wafi-Golpu Cu-Au deposit and the Hidden Valley Au mine.

At Ekuti Range, drilling has outlined narrow, high grade Cu-Au structures distal to a series of large scale porphyry targets.

At Wamum, two significant Cu-Au deposits have been delineated – Idzan Creek (137.3Mt at 0.53g/t Au & 0.24% Cu) and Wamum Creek (141.5Mt 0.31% Cu & 0.18g/t Au). The mineralisation is yet to be closed off.

On Manus Island Canterbury holds the Bismarck project where exploration has identified a major lithocap that is prospective for buried, large-scale porphyry copper-gold mineralisation.

LATEST NEWS

Peenam Project Acquisition

Canterbury Resources is pleased to announce that it has completed the acquisition of the Peenam Copper-Gold Project in Queensland: Download Here

Drilling Commences at the Briggs Copper Project

Canterbury Resources is pleased to announce that it has commenced a high-impact 3,000m RC drilling program at the Briggs Copper Project: Download Here

Quarterly Activities & Cashflow Report September 2021

The Board of Canterbury Resources Limited has released its Quarterly Activities and Cashflow Report for the period ending 30 September 2021: Download Here