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Canterbury Resources Ltd. ( (AU:CBY) ) just unveiled an announcement.
Canterbury Resources Limited has commenced drilling a 900-meter deep diamond hole at the Briggs Copper Project in Queensland, targeting a geophysical anomaly identified by a VTEM survey. This initiative, partially funded by a government grant, aims to enhance the understanding of the Briggs resource and support further expansion and metallurgical studies. The results from this drilling are expected to provide insights into higher-grade zones and potentially reshape the company’s resource estimates, with assay results anticipated next quarter. Additionally, the company is nearing the completion of a Scoping Study that will assess the technical and financial aspects of developing a large-scale open-cut mine at the site.
More about Canterbury Resources Ltd.
Canterbury Resources Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company is involved in projects that target copper, molybdenum, and silver deposits, with a notable presence in Queensland, Australia. Their operations benefit from strategic locations with exceptional infrastructure and logistics, as well as partnerships such as the joint venture with Alma Metals.
Average Trading Volume: 313,797
Technical Sentiment Signal: Sell
Current Market Cap: A$4.36M
For detailed information about CBY stock, go to TipRanks’ Stock Analysis page.