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An update from Canterbury Resources Ltd. ( (AU:CBY) ) is now available.
Canterbury Resources Limited has announced the successful completion of its 2024 drilling program at the Briggs Copper Project in Queensland, confirming the discovery of a new Southern porphyry with significant copper and molybdenum mineralization. The results have expanded the known resource, enhancing early mining options and contributing to an updated Mineral Resource Estimate to be used in future mining studies. With Alma Metals Ltd funding the project under an Earn-In Agreement, the company is advancing a Scoping Study to explore potential open-pit mining and ore processing, with results expected by mid-2025. These developments are pivotal in positioning Canterbury Resources as a major player in copper exploration, potentially impacting stakeholders positively through resource expansion and improved project feasibility.
More about Canterbury Resources Ltd.
Canterbury Resources Limited is a company in the mining industry, focusing primarily on copper and molybdenum exploration. The company is engaged in developing large-scale copper projects, with a significant emphasis on the Briggs Copper Project in Queensland, Australia. Canterbury Resources operates in a tier one jurisdiction with strong infrastructure and local workforce support, aiming to expand its mineral resource base through strategic exploration and development activities.
YTD Price Performance: 5.00%
Average Trading Volume: 138,263
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$4.15M
Learn more about CBY stock on TipRanks’ Stock Analysis page.
