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Canterbury Resources Ltd (ASX:CBY)

ALERT: Price-sensitive ASX Announcement for CBY
Current share price for CBY : $0.043 -0.004 (-8.51%)+
Announcement
Release
4 Aug 2026 8:41AM
Price at Release
$0.047
Full Release
download
Summary
Canterbury Resources Limited is conducting significant drilling activities at its Briggs and Monto projects in Central Queensland, Australia. The Briggs project is focused on upgrading its current Mineral Resource Estimate as part of a Preliminary Feasibility Study for a potential large-scale copper mining operation. The drilling is progressing well, with results aligning with expectations based on the resource block model. In the Monto Project, a diamond core drilling program is set to commence to explore the John Hill deposit further. These efforts are supported by infrastructure proximity and funding from partners like Alma Metals under an earn-in agreement.
Key Points
  • Canterbury Resources Limited (ASX: CBY) is advancing drilling efforts at its Briggs and Monto projects in Central Queensland.
  • The drilling at Briggs is part of a Preliminary Feasibility Study (PFS) aimed at developing a large-scale, long-life open-pit mining operation.
  • At the Briggs Copper Project, over 2,400 meters have been drilled across seven holes with assay results aligning with expected grades.
  • The Briggs project involves a significant drilling program to convert Inferred Resources to Indicated Resources, supporting a future Mining Resource Estimate (MRE).
  • The Monto Project involves a ~2,000-meter diamond core drilling program at the John Hill copper-molybdenum-silver deposit.
  • Activity at Briggs is funded by Alma Metals under an earn-in agreement, while Canterbury fully owns the Monto project.
  • Both projects are well-located with access to significant infrastructure such as roads, rail, port, and power.
  • Canterbury aims to report ongoing results over the next 15 months as drilling progresses.
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.