Briggs Drilling Confirms Visual Copper Mineralisation Ahead of Assays

Completion of 2025 Drilling Program

Canterbury Resources Limited has wrapped up its 2025 drilling campaign at the Briggs copper deposit in Central Queensland, marking a significant milestone in advancing the project. The final hole, 25BRD0038, drilled 80 metres northwest of the previous hole, has revealed multiple zones of strong visual copper mineralisation. This outcome aligns closely with the company’s existing geological model and supports the continuity of mineralisation along strike.

Visual Mineralisation and Geological Insights

Geological logging of 25BRD0038 identified intense magmatic quartz-sulphide mineralisation near surface and enhanced stockwork vein-hosted porphyry copper mineralisation around the contact zone between porphyritic granodiorite and surrounding volcanic sediments. These observations are consistent with the April 2025 Mineral Resource Estimate and reinforce the understanding of the deposit’s architecture. The visual estimates suggest copper grades ranging from 0.2% to 1.0% in various intervals, although laboratory assays are required for confirmation.

Pending Assay Results and Next Steps

Assay results for both 25BRD0038 and the previously drilled 25BRD0037, which returned a significant intersection of 222.2 metres at 0.26% copper, are expected in early 2026. These results will be pivotal in refining the Mineral Resource Estimate and guiding the next phase of development. Canterbury’s Managing Director, Grant Craighead, expressed optimism about the progress, highlighting the positive outcomes from the 2025 Scoping Study and the commencement of a Prefeasibility Study evaluating a potential 30 million tonnes per annum operation.

Supporting a Large-Scale Copper Operation

The ongoing Prefeasibility Study aims to assess the viability of a large-scale, long-life copper mine at Briggs. The 2025 drilling program was designed as a high-priority infill campaign to enhance and expand the existing resource base. The strong correlation between surface copper-in-soil anomalies and the mineralisation observed in drilling provides confidence in targeting further zones. Planned drilling in 2026 will test additional elevated copper zones to the northwest, potentially expanding the resource footprint.

Strategic Partnerships and Regional Context

Briggs is part of a broader portfolio of copper-gold projects managed by Canterbury and its joint venture partner Alma Metals. The deposit is located near Gladstone, Queensland, and benefits from a well-understood geological setting with multiple intrusive centers. The project’s advancement is supported by a joint venture structure that includes Rio Tinto, which holds a royalty interest, underscoring the deposit’s strategic significance.