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Canterbury Resources Updates Mineral Resource Estimate at Briggs Project

Story Highlights
  • Canterbury Resources updates its Briggs Copper Project MRE with increased resource tonnage.
  • The updated MRE enhances financial viability and supports potential starter-pit development.
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Canterbury Resources Updates Mineral Resource Estimate at Briggs Project

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Canterbury Resources Ltd. ( (AU:CBY) ) just unveiled an update.

Canterbury Resources Limited has announced an updated Mineral Resource Estimate (MRE) for its Briggs Copper Project, showing a significant increase in resource tonnage and contained metals, including copper and molybdenum. The update includes a notable portion of resources now classified as Indicated, which enhances the project’s financial viability and supports the potential for a starter-pit. Further drilling is planned to expand and upgrade the resource, with a Scoping Study set for mid-2025 completion.

More about Canterbury Resources Ltd.

Canterbury Resources Limited operates in the mining industry, focusing on the exploration and development of mineral resources. Its primary products include copper and molybdenum, with a focus on projects in Australia. The company is currently working on the Briggs Copper Project in collaboration with Alma Metals Limited under a joint venture agreement.

YTD Price Performance: 25.00%

Average Trading Volume: 355,129

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$4.94M

See more insights into CBY stock on TipRanks’ Stock Analysis page.

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