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Canterbury Resources Ltd.
Summary
| Project: | Briggs | |
|---|---|---|
| Deposit: | Briggs | |
| Location: | Australia | |
| Commodities: | Copper-Molybdenum | |
| Date: | 4/6/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-4-2020: Canterbury Resources Ltd. announces an Exploration/Drilling Update report for its Briggs deposit at the Briggs project. Drilling results incl. 160.5m @ 0.24% Cu, 22ppm Mo from 8.5m. Canterbury Resources Limited (ASX: CBY) is pleased to announce | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Michael Erceg (Internal) | |
| ABSTRACT: | Canterbury Resources Limited (ASX: CBY) is pleased to announce further encouraging progress at the Briggs Copper Project in SE Queensland. Briggs EPM19198, Queensland (CBY 100%, Rio Tinto 1% NSR) The Briggs, Mannersley and Fig Tree Hill tenements are located 50km inland from Gladstone and are prospective for large scale porphyry copper ±gold ±molybdenum deposits. Development potential in the region is enhanced by extensive existing industrial infrastructure including power, transport, service providers and port facilities. The Briggs and Mannersley tenements were acquired from Rio Tinto Exploration Pty Limited (“Rio Tinto”), which retains certain rights, including a 1% NSR and a back-in option to purchase a 60% joint venture interest. Canterbury separately holds the surrounding Fig Tree Hill tenement application (EPM 27317) and Rio Tinto also holds additional exploration interests in the district. Historical explorers recognised multiple large porphyry style mineralisation systems in the Briggs region and limited shallow historical drilling encountered extensive copper mineralisation along a northwest structural corridor on the Mt Morgan trend. Exploration by Canterbury is extending the footprint of these systems. | |
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