Canterbury Resources has kicked off an extensive drilling campaign at its Briggs Copper Project to upgrade resource confidence and expand the mineral footprint ahead of a Pre-feasibility Study.
- 45 diamond core holes planned in 2026-27
- Focus on converting Inferred to Indicated Resources
- Testing lateral and depth targets to grow resource
- Drilling supports metallurgical and environmental studies
- JV partner Alma Metals sole-funding with option to earn 70%
Ambitious Drilling Campaign Targets Resource Upgrade
Canterbury Resources (ASX:CBY) has commenced a significant diamond core drilling program at the Briggs Copper Project in central Queensland, aiming to upgrade and expand its Mineral Resource Estimate (MRE) to underpin an ongoing Pre-feasibility Study (PFS). The 2026 program alone plans 45 holes totalling approximately 14,000 metres, with objectives spanning resource conversion, expansion, and metallurgical sampling.
Briggs stands out as one of Australia’s larger undeveloped copper assets, boasting a current MRE at a 0.15% copper cut-off of 2.0 million tonnes of copper, alongside 73 million pounds of molybdenum and 16.5 million ounces of silver. This scale and grade underpin the project’s potential as a long-life, large-scale open pit operation using conventional flotation technology to produce marketable copper concentrate.
Drilling efforts are focused on converting Inferred Resources to the Indicated category, which is critical for detailed mine planning and scheduling within the PFS. Simultaneously, the program will test lateral and depth extensions to potentially expand the resource base. Metallurgical test work, supported by the drilling, aims to optimise processing flowsheets, an essential step for project economics and design.
Strategic Location and JV Funding Structure
Located roughly 60 kilometres west of Gladstone’s deep-water port, Briggs benefits from proximity to major infrastructure including road, rail, high-voltage power, and multiple gas pipelines. This tier-one jurisdiction advantage reduces development risk and enhances logistics efficiency.
Joint venture partner Alma Metals (ASX:ALM) is currently sole-funding and managing Briggs activities under an Earn-In Agreement, with the option to increase its stake to 70% by spending an additional ~$6 million. This arrangement mitigates Canterbury’s capital exposure while advancing the project through critical technical milestones.
Integrated Technical Workstreams Support Project Advancement
The drilling program is part of a broader suite of technical workstreams progressing in tandem. Environmental baseline studies, including waste and tailings characterisation, are underway to inform permitting and environmental management. Early-stage engineering and geotechnical assessments are also integrated, with rock mass stability data being collected from selected drill holes to support open pit design.
Drilling commenced with one rig operating day shifts, with plans to add a night shift and a second rig early next quarter to maintain momentum. Exploration drilling is also targeting copper geochemical anomalies outside the current MRE, offering potential to further enlarge the mining footprint.
This drilling initiative builds on prior positive momentum, including a robust scoping study completed earlier this year and record copper intersections reported in recent drilling campaigns. The program’s success will be pivotal in refining the MRE and advancing the PFS, which aims to validate Briggs as a major copper supplier from a jurisdiction favoured by investors and smelters alike. The project’s scale, infrastructure access, and strategic partnerships position it well amid a tightening global copper market and supply constraints.
Given the ongoing nature of the drilling and studies, market participants will be keenly awaiting assay results and updated resource estimates that will shape the project’s next development phase. The interplay between resource expansion, metallurgical optimisation, and environmental approvals will ultimately determine the feasibility and timing of Briggs moving towards production.
Canterbury’s Managing Director Grant Craighead highlighted the scarcity of large copper projects in favourable jurisdictions, underscoring Briggs’ potential to become a significant contributor to future copper supply. This drilling program marks a critical step in translating that potential into tangible project advancement.
Investors may also recall Canterbury’s recent robust scoping study and record 620m copper intersection at Briggs, which have set the stage for this major resource upgrade effort.
Bottom Line?
The success of this extensive drilling campaign will be crucial in converting potential into a defined, mineable resource, shaping Briggs’ path through the prefeasibility phase and beyond.
Questions in the middle?
- Will drilling confirm significant lateral and depth extensions to the current resource?
- How will metallurgical test results influence processing design and project economics?
- What impact will JV funding milestones have on project timelines and ownership?