Canterbury Resources Strikes Metallurgical Gold with Outstanding Copper Recoveries at Briggs Project
Canterbury Resources (ASX: CBY) has reported exceptional metallurgical test results from its Briggs Copper Project in Queensland, demonstrating the project's strong development potential with high-grade recoveries achieved through conventional processing methods.
Breakthrough Metallurgical Results Confirm Project Viability
Recent locked cycle froth flotation tests have delivered outstanding copper recoveries across both key geological domains at the Briggs Copper Project:
- 95% copper recovery from the intrusive core, producing concentrates grading 29% copper
- 94% copper recovery from the volcanic-sediment zones, producing concentrates grading 23% copper
What makes these results particularly significant is that these exceptional recoveries were achieved at coarse to very coarse primary grind sizes (up to 212μm), which Managing Director Grant Craighead notes should "drive processing costs towards the lower end of the curve for a porphyry copper project."
The comprehensive metallurgical test work, overseen by Scott Dalley Francks Pty Ltd, confirms the Canterbury Resources copper project can produce clean, high-quality concentrates using conventional processing methods with no significant deleterious elements detected.
Molybdenum Adds Significant By-Product Value
Beyond the impressive copper results, the test work demonstrated strong molybdenum recovery into the copper concentrates:
- 62% molybdenum recovery from the intrusive core (2,000ppm in concentrate)
- 73% molybdenum recovery from the volcanic-sediment (3,200ppm in concentrate)
The company notes significant potential to optimise molybdenum recovery in future work, potentially adding substantial value to the project.
Additionally, silver was recovered at levels well above normal payability thresholds (72g/t in intrusive and 54g/t in volcanic-sediment concentrates), further enhancing the economic potential. Such recoveries are often seen in epithermal deposits where precious metals frequently occur alongside base metals.
Understanding Froth Flotation: The Key to Briggs' Success
Froth flotation is a crucial process in copper mining that separates valuable minerals from gangue (waste material). The process works by exploiting the natural hydrophobicity (water-repelling nature) of specific minerals.
In simplified terms:
- Crushed ore is mixed with water and reagents in a tank
- Air bubbles are introduced, causing the targeted minerals to attach to the bubbles
- These mineral-laden bubbles rise to form a froth that is collected
- Multiple cleaning stages progressively upgrade the concentrate
The locked cycle test methodology used at Briggs is particularly significant as it simulates a continuous industrial operation by recycling intermediate products, providing more realistic recovery predictions than simple batch tests.
Canterbury's ability to achieve high recoveries at coarse grind sizes is a major economic advantage, as grinding typically accounts for the largest portion of processing costs in copper operations. This efficiency will likely have positive implications for future mining feasibility studies as the project advances.
Market Impact and Development Timeline
These metallurgical results form a critical component of Canterbury's ongoing Scoping Study for the Briggs project. With an updated Mineral Resource Estimate expected shortly and preliminary Scoping Study results anticipated by mid-2025, Canterbury Resources copper project is rapidly advancing toward potential development.
The project is being funded through a joint venture with Alma Metals, which currently holds a 51% interest and is increasing this to 70% by funding a further $10 million of exploration and development work. This strategic partnership represents a common approach among junior mining investments to manage capital requirements during development phases.
Why Investors Should Follow Canterbury Resources
Canterbury Resources represents a compelling investment case for several reasons:
-
Technical De-risking: These outstanding metallurgical results significantly de-risk the Briggs Copper Project by confirming that simple, conventional processing can achieve excellent recoveries.
-
Economic Advantages: The ability to achieve high recoveries at coarse grind sizes suggests lower operational costs compared to similar porphyry projects.
-
Development Pipeline: Beyond Briggs, Canterbury maintains a portfolio of promising copper-gold projects across Australia and Papua New Guinea.
-
Strategic Partnerships: The company's joint venture with Alma Metals provides funding certainty while maintaining significant project interest.
-
Market Timing: With global copper demand projected to rise significantly due to energy transition demands, Canterbury Resources copper project is well-positioned with an advancing copper project in a tier-one jurisdiction.
Furthermore, the project's potential to produce high-quality concentrates comes at a time when the copper concentrates market is experiencing significant supply constraints and volatility in treatment and refining charges.
With these exceptional metallurgical results confirming the technical viability of the Briggs project and multiple catalysts on the horizon, Canterbury Resources represents an emerging opportunity in the copper sector at a time when new copper development projects in stable jurisdictions are increasingly valuable. The project's advancement coincides with favorable global commodities market conditions, particularly for copper, which is essential for the renewable energy transition.
Want to Stay Ahead of Market-Moving Copper Discoveries?
Discover significant ASX mineral announcements in real-time with Discovery Alert's proprietary Discovery IQ model, delivering instant notifications on copper and other resource opportunities. Visit our discoveries page to understand how major mineral finds like Canterbury's copper project can generate substantial returns for early investors.
