Canterbury Resources (ASX:CBY) has locked in further drilling for early Q2 2024 targeting an upgrade in resource confidence to support a Scoping Study for its Briggs Copper Project in Central Queensland.
Drilling is being planned after Canterbury announced yesterday (29 January 2024) it had posted further assays from a recently completed ore drilling program which reconfirmed a shallow, ‘high-grade’ zone of copper-molybdenum mineralisation.
The mineralisation is interpreted to straddle the contact between the granodiorite intrusion and enclosing volcanic sediment.
Canterbury reports drillhole 23BRD0021, drilled at the south-eastern edge of the Briggs Central inferred resource, intersected a ‘thick’ zone of ‘strong’ copper-molybdenum mineralisation from surface to 136.3m down-hole depth.
The mineralisation in the top 51m of the aforementioned hole occurs immediately above the base of oxidation and may represent moderate supergene enrichment of the primary copper-molybdenum mineralisation.
Further, the bottom 120m of the hole was also ‘strongly’ mineralised and ended in mineralisation at the planned termination depth.
According to Canterbury, the deeper mineralisation may form part of the halo around the Southern Porphyry target and indicates the Central and Southern Porphyry mineralisation may link up at depth.
Assays for the remaining 4 holes are expected in the coming weeks.
Managing Director Grant Craighead says the ‘higher-grade’ mineralisation uncovered should enhance operational cash flow during the early years of a conceptual mining operation.
“The assays are further evidence that higher-grade mineralisation occurs in the contact zone between the main granodiorite intrusion and the enclosing volcanic sediments. This feature will be the focus of our 2024 drilling program and provides an opportunity to outline significant areas with higher-grade mineralisation that should enhance operational cash flow during the early years of a conceptual mining operation.”
Canterbury Resources is an ASX-listed resource company focused on exploring potential tier one copper-gold projects in the southwest Pacific.
Write to Adam Drought at Mining.com.au
Images: Canterbury Resources