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Canterbury Resources Ltd. ( (AU:CBY) ) has provided an update.
Canterbury Resources Limited has successfully completed a deep drill hole, 25BRD0037, at its Briggs Copper Project in Central Queensland, reaching a depth of 809.9 meters. The drilling confirmed the presence of porphyry copper-style mineralization along the entire core, with the strongest mineralization observed near the contact between porphyritic granodiorite and volcanic sediments. The project is partially funded by a $250,000 grant from the Queensland Government, and the drilling program has been extended with a new hole, 25BRD0038, to further evaluate the mineralization. This development supports the company’s geological models and enhances the project’s definition, potentially impacting resource expansion and metallurgical studies.
More about Canterbury Resources Ltd.
Canterbury Resources Limited is a company operating in the mining industry, primarily focusing on the exploration and development of copper resources. The company is engaged in projects that aim to expand and define mineral resources, with a particular emphasis on copper mineralization in Central Queensland.
Average Trading Volume: 286,746
Technical Sentiment Signal: Sell
Current Market Cap: A$6.2M
See more insights into CBY stock on TipRanks’ Stock Analysis page.