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Canterbury Resources Ltd (ASX:CBY)

ALERT: Price-sensitive ASX Announcement for CBY
Current share price for CBY : $0.043 0.022 (104.76%)+
Announcement
Release
1 Oct 2025 8:30AM
Price at Release
$0.021
Full Release
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Summary
Canterbury Resources Limited (ASX: CBY) announced an update on its Briggs Copper Project in Central Queensland. The company is progressing with a 900m deep diamond drill hole aimed at testing a significant geophysical anomaly identified through a VTEM survey. The drilling is part of a broader scoping study examining one of Australia's largest undeveloped copper projects. The current drilling has reached a depth of 414m, with geological logging confirming porphyry style copper mineralisation that aligns with the resource model. The project, partially funded by the Queensland Government's Collaborative Exploration Initiative, aims to enhance resource definition and support further technical studies. Results from the Briggs Scoping Study are expected in late October, detailing the project's economic and developmental prospects.
Key Points
  • Deep drilling at Briggs Copper Project reached 414m depth.
  • Drilling targets a VTEM geophysical anomaly.
  • Porphyry copper mineralisation confirmed along the drill core.
  • Project partially funded by a $250,000 grant from the Queensland Government.
  • Briggs Scoping Study nearing completion with economic report due in late October.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.