Canterbury Resources Limited (ASX: CBY) is an emerging mineral exploration company that was formed in 2011, with the aim of generating Tier-1 opportunities in the southwest Pacific region in a cost-effective and responsible manner. 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.
A strong portfolio of porphyry related copper-gold projects has been established in Papua New Guinea and Australia and is being steadily advanced in partnership with industry leading groups to defray risk. The scale of assets being explored provides very high leverage for investors.
In PNG, Canterbury holds three projects; Wamum and Ekuti Range on the mainland, and Bismarck on Manus Island.
PNG is renowned for its abundant mineral wealth, including world-class copper and gold assets. The country’s unique geology largely results from its position on the interactive plate tectonic boundary between the cratonic Indo-Australian plate to the south and the oceanic Pacific Plate to the north. Since the Cretaceous, uplift and deformation have occurred due to the collision between these plates.
On mainland PNG, which hosts the Ekuti Range and Wamum projects, porphyry and epithermal style mineralisation occurs associated with two spatially and temporally distinct magmatic arcs. The early Maramuni arc (mid-Miocene age) was active in the northern part of mainland PNG and deposits such as Freida River and Yandera are associated with this arc. A significantly younger arc is associated with high-level intrusions and extrusive volcanism in central and southern PNG, and the Ok Tedi, Porgera, Wafi-Golpu, Hidden Valley and Tolukuma deposits are associated with this arc.
At the Wamum Project, a Scoping Study is being undertaken to assess the merits of a standalone operation based on two deposits: Idzan Creek (137.3Mt at 0.53g/t Au & 0.24% Cu) and Wamum Creek (141.5Mt at 0.31% Cu & 0.18g/t Au). In parallel, scout drilling is proposed to further assess porphyry copper-gold mineralisation systems at the Bismarck and Ekuti Range projects. The Bismarck Project is being managed and sole-funded by Rio Tinto Exploration (PNG) Limited as part of a Farm-In and Joint Venture Agreement.
In Australia Canterbury has the Briggs (EPM 19198), Mannersley (EPM 18504) and Fig Tree Hill (EPM 27317) projects, which are prospective for large scale porphyry copper (± gold ± molybdenum) mineralisation. Rio Tinto Exploration Pty Ltd holds a 1% net smelter royalty (NSR) in the Briggs and Mannersley tenements.
These adjoining tenements are located inland from Gladstone, at the southern end of the northwest-southeast trending Mt Morgan structural belt. The high-grade Mt Morgan mine produced around 8Moz of gold and 350,000t of copper before its closure in 1989. The potential to delineate an economic project in this region is enhanced by its accessibility to critical infrastructure, including power, transport, industrial services and skilled labour.
A significant resource has already been outlined at the Briggs deposit (142.6Mt at 0.29% Cu) with further drilling planned to boost tonnages and assess higher grade features.
In Vanuatu Canterbury holds a Prospecting Licence (PL 1851) plus an application on Santo. These assets are in the process of being sold to New Talisman Limited (ASX: NTL).
Canterbury Resources aims to create shareholder value by generating, exploring and monetising potential Tier-1 copper-gold projects in the southwest Pacific. To maintain cost-effective exploration programs and ensure rapid project development, the Company periodically forms partnerships with major mining groups.
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 THE MEDIA
A high leverage Copper-Gold explorer
Canterbury Resources Ltd (ASX:CBY) is an Australian exploration company focused on large scale, porphyry related, copper-gold and gold-silver prospects in proven mineral provinces in the SW Pacific Region.
Canterbury’s Presentation to the ASX Small Cap Conference
Canterbury’s MD, Grant Craighead, recently presented at the ASX Small and Mid-Cap Conference 2020. The presentation and an associated media interview are available at the following links:
Resource Rising Stars
The junior gold exploration space was in need of a tonic in the wake of the recent wobbles in the gold price.
A high leverage Copper-Gold Explorer
Canterbury Resources Ltd (ASX:CBY) is an Australian exploration company focused on large scale copper-gold and gold-silver prospects in proven mineral provinces in
Australia, Papua New Guinea and the Pacific Islands.
Canterbury holds its breath ahead of Queensland copper assays
Canterbury holds its breath ahead of Queensland copper assays and Strandline’s big WA minteral sands project on track to secure funding from the Government’s Northern Australia Infrastructure Facility.
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. Combining technical, operational, corporate and legal expertise in the metal and mineral exploration, finance and development, the Canterbury team aims to create shareholder value, whilst maintaining strong corporate governance.
- John has over 40 years’ experience in the finance sector in banking, investment banking and general consulting, and in the mining sector in Australia and Chile.
- He has held positions of Managing Director or Chairman of several public and private companies in Australia, and as a Director of mining companies in Chile.
- Holds extensive experience in general financing and capital raisings, developing and implementing business plans for new and existing entities, and taking companies from IPO through to operations.
- John was Chairman of Anchor Resources Ltd from IPO through to its sale to Chinese interests.
- Among other previous positions, John was also Managing Director of an Australian publicly listed mining company and was responsible for turning around its unprofitable operations and implementation of mining and operating plans.
- Grant is a geologist with 40 years’ experience in the exploration, mining and financial sectors, including 8 years as Chief Geologist with Elders Resources NZFP Ltd and five years as an Associate Director at Macquarie Bank.
- During his period with Elders he was associated with exploration and development successes including Red Dome, Selwyn, Wafi-Golpu, Glendell, Narama and Kidston.
- He was a co-founder of Anchor Resources Ltd and its Managing Director at the time of its sale to Chinese interests in 2011.
- Grant is also a co-founder and executive director of Breakaway Investment Group, a financial company that provides funds management, private equity and research services in the resource sector.
- Michael is a geologist with over 35 years’ experience in mineral exploration, mine development and operations in New Zealand, Australia, Papua New Guinea, Vanuatu, Philippines and China.
- He is a specialist in southwest Pacific porphyry copper-gold and epithermal gold-silver systems, and has a strong understanding of their geological, geochemical, geophysical and alteration footprints.
- Extensive experience in managing remote area reconnaissance and advanced exploration programs, including an ability to readily adapt to culturally diverse environments and work effectively with local professional staff.
- During his career he has made significant direct contribution to the discovery and/or delineation of the Red Dome (Qld), Northwest Mungana (Qld), Wafi-Golpu (PNG), OK Tedi (PNG), New Holland underground (WA) and Murrawombie / Larsens / Northeast (NSW) ore bodies.
- Robyn is an experienced Chair and Non-Executive Director of ASX and private company boards, which follows a 25+ year executive career as a CEO, across a diverse range of sectors including telecommunications, retail, media, entertainment and education sectors.
- Her experience involves significant M&A, business transformation and turnaround, capital raising, strategic planning, development of digital capability and customer engagement and international business activity.
- ASX experience includes Governance and Compliance, Remuneration and Nomination (Chair), and Audit and Risk Committees.
- Robyn has a strong background both professionally and personally in Papua New Guinea over 35 years; dealing with government, local landowner groups and traditional cultures.
Director & Company Secretary
- Ross is a Chartered Accountant and Chartered Secretary and is principal of the consulting firm, Rahui Resources.
- Ross brings 30 years of experience in providing corporate advisory and secretarial services to a range of listed and unlisted companies.
- Held the role of Company Secretary for ASX listed junior explorer, Anchor Resources Ltd, through its IPO to its eventual sale to Chinese interests.
Company Secretary and Legal Counsel
- Véronique has the combined experience of an Australian solicitor and a French avocat d’affaires and has practiced in major French and Australian law firms (in particular Ernst & Young Legal in Paris and Gadens Lawyers in Sydney).
- Specialising in corporate law, mergers and acquisitions and joint ventures, before setting up the Sydney branch of the niche law firm Oceanie Lawyers.
- Over the last fifteen years, she has advised multi-national companies and smaller businesses from set-up through to domestic and cross-border transactions in various legal systems.
- Her experience encompasses a wide range of clients covering exploration / mining companies, construction, transport, automotive, energy and various services providers.
PNG Country Manager
- Wanu Tamu is a PNG National geologist with around 35 years’ mineral exploration experience in the SW Pacific region, particularly Papua New Guinea.
- He has been involved in a full range of exploration field activities including design, management and implementation of field programs, plus government and landowner liaison. He was also a member of the Elders Resources NZFP Ltd exploration team during the drilling of the discovery hole at the Golpu deposit.