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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 African Energy Resources under an exclusive option arrangement.