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Canterbury Resources Ltd. ( (AU:CBY) ) has issued an announcement.
Canterbury Resources Limited has announced significant progress in its Briggs Copper Project, with the completion of a scoping study assessing the potential for a large-scale open-cut mine. The project, one of Australia’s largest undeveloped copper resources, is expected to benefit from low operating costs due to favorable metallurgy and infrastructure. Additionally, a deep diamond drill hole is set to commence, supported by a government grant, as part of efforts to enhance the project’s mineral resource estimate. In Papua New Guinea, the company has completed a field program at the Morobe Project, focusing on mapping and sampling to identify potential drill targets. The acquisition of the Jack Shay Project in Queensland further expands Canterbury’s exploration portfolio, with plans for drilling to better understand the geology and mineralization of the area.
More about Canterbury Resources Ltd.
Canterbury Resources Limited is a mining company focused on the exploration and development of mineral resources, particularly copper, molybdenum, and silver. The company operates primarily in Australia and Papua New Guinea, with key projects including the Briggs Copper Project in Queensland and the Morobe Project in Papua New Guinea.
Average Trading Volume: 291,143
Technical Sentiment Signal: Sell
Current Market Cap: A$4.98M
For detailed information about CBY stock, go to TipRanks’ Stock Analysis page.