Canterbury Resources Delivers Strong Copper Intercepts From Deep Drilling at Briggs
Canterbury Resources Limited (ASX: CBY) has announced highly encouraging initial assay results from its ambitious deep drilling programme at the Briggs Copper Project in central Queensland. The recently completed drillhole 25BRD0037 has delivered 222.2m at 0.26% Cu from 9.0m depth, validating the company's geological models and setting the stage for resource expansion.
This deep drilling campaign represents a significant milestone for Canterbury, providing crucial data for the recently announced Prefeasibility Study. Furthermore, it tests the full extent of the mineralised system at depths never before explored.
Outstanding Copper Intercepts Validate Geological Models
The initial assay results from the upper portion of drillhole 25BRD0037 have exceeded expectations, revealing consistent Canterbury Resources copper mineralisation at Briggs across an impressive 222.2-metre interval. The standout intercept includes:
| Depth Interval | Length | Copper Grade | Molybdenum | Silver |
|---|---|---|---|---|
| 9.0m to 231.2m | 222.2m | 0.26% Cu | 48ppm Mo | 0.72g/t Ag |
| 52.0m to 229.1m | 177.1m | 0.28% Cu | 49ppm Mo | 0.74g/t Ag |
| 62.0m to 116.0m | 54.0m | 0.31% Cu | 54ppm Mo | 0.83g/t Ag |
Key highlights from the drilling include:
• Continuous mineralisation from just 9 metres below surface
• Strong correlation between observed geology and the existing block model
• Multiple higher-grade zones within the broad intercept
• Visible copper mineralisation continuing below the 231.2m assay depth
Managing Director Grant Craighead commented: "We're very pleased with the assay results from the upper portion of 25BRD0037 which help to validate our geological and resource models. We await results for the remainder of the hole, particularly a ~200m zone around the southwestern contact between the porphyritic granodiorite intrusion and the surrounding volcanic sediments."
What Makes Porphyry Copper Systems Attractive to Investors?
Porphyry copper deposits are large-tonnage, low-to-moderate grade copper deposits that form around intrusive igneous rocks called porphyries. These deposits are characterised by extensive networks of quartz-sulphide veins and represent some of the world's most important copper resources.
What makes porphyry deposits attractive to investors:
• Scale potential – Can contain millions of tonnes of copper
• Predictable geology – Mineralisation patterns are well understood
• Long mine life – Large deposits support decades of production
• By-product credits – Often contain molybdenum, gold, and silver
At Briggs, Canterbury Resources copper mineralisation at Briggs is hosted within and around a granodiorite porphyry stock with dimensions exceeding 500m by 200m. In addition, this indicates substantial scale potential for future resource growth.
Expanded Drilling Programme Targets High-Grade Zones
Canterbury has extended its drilling programme with 25BRD0038 now underway, positioned 80 metres northwest of the completed hole. This strategic placement targets several key areas of interest:
Peak surface geochemical anomaly – Testing directly below the strongest copper-in-soil values
Strike extension – Following the trend of visible copper mineralisation from 25BRD0037
Contact zone – Focusing on the geological contact that commonly hosts the best copper grades
| Drillhole | Status | Depth | Target |
|---|---|---|---|
| 25BRD0037 | Complete | 809.9m | Deep resource definition |
| 25BRD0038 | In progress | 350m planned | Strike extension & surface anomaly |
The drilling programme benefits from $250,000 in Queensland Government funding through the Collaborative Exploration Initiative. This demonstrates official recognition of the project's strategic importance.
How Does This Support the Prefeasibility Study?
The timing of these results is particularly significant as Canterbury and joint venture partner Alma Metals progress their Prefeasibility Study for Briggs. The study is evaluating a large-scale (30Mtpa), long-life mining operation producing copper concentrate for global smelter markets.
Current Resource Position (April 2025 MRE):
| Category | Tonnes (Mt) | Copper Grade | Contained Copper |
|---|---|---|---|
| Indicated | 137Mt | 0.25% Cu | 343,000t Cu |
| Inferred | 793Mt | 0.20% Cu | 1,586,000t Cu |
| TOTAL | 930Mt | 0.21% Cu | 1,929,000t Cu |
The deep drilling programme is designed to achieve several critical objectives. These include validating resource models at depth and testing for resource expansion beyond current boundaries.
Moreover, the programme provides geotechnical data for mine planning whilst supporting updated resource estimates throughout 2026.
Key Development Milestones
Canterbury has established a clear pathway toward production development. The systematic approach demonstrates quality resource development programme characteristics that investors should recognise.
However, the success of Canterbury Resources copper mineralisation at Briggs ultimately depends on continued positive drilling results and successful Prefeasibility Study completion.
Why Should Investors Track Canterbury Resources?
Canterbury has positioned itself as a compelling copper development story in a jurisdiction renowned for mining excellence. The company's systematic approach to advancing Briggs demonstrates the hallmarks of a quality resource development programme.
Strategic Advantages:
• Tier-1 jurisdiction – Queensland's mining-friendly regulatory environment
• Infrastructure proximity – Located 50km from the Port of Gladstone
• Experienced management – Proven track record in resource development
• Strong partnerships – Joint venture with well-funded Alma Metals
• Government support – CEI grant funding validates project merit
Near-term Catalysts:
• Deep assay results – Remaining 578m of core results due within 6 weeks
• Ongoing drilling – 25BRD0038 completion expected within 2 weeks
• Resource update – Incorporating 2025 drilling results
• Prefeasibility progress – Key study milestones throughout 2025-2026
Investment Considerations
Canterbury Resources has successfully demonstrated the continuity and grade consistency of Canterbury Resources copper mineralisation at Briggs through systematic deep drilling. With a substantial resource base of nearly 2 million tonnes of contained copper and a clear development pathway through the Prefeasibility Study, Canterbury represents an attractive exposure to Queensland's copper potential.
Furthermore, the company operates in a supply-constrained market where quality copper development projects command premium valuations.
What's Next for Canterbury Resources?
The completion of 25BRD0037 marks a pivotal moment for Canterbury, providing the deep geological understanding necessary to advance Briggs toward production. With additional assay results pending and drilling continuing, several key developments await investors.
The remaining 578 metres of core from the deep drilling programme will provide crucial insights into the deposit's full potential. These results could significantly impact resource estimates and mine planning assumptions.
Consequently, investors should monitor Canterbury's progress as it builds toward becoming Queensland's next significant copper producer. The combination of strong drilling results, government support, and strategic partnerships positions the company well for future development success.
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