Canterbury Resources (ASX:CBY) has disclosed encouraging progress at its John Hill copper-molybdenum-silver deposit within the 100%-owned Monto Project in central Queensland, with the first diamond core drilling program since 2013 completing 957.5 metres across three holes and returning initial assay results of 60 metres at 0.23% copper, 134ppm molybdenum and 0.9g/t silver from 66 metres in hole 26JHD001.

Key Points

  • Drilling commenced 1 September 2026, with 957.5 metres completed across three holes at John Hill as of the filing date
  • Hole 26JHD001 returned 60m at 0.23% Cu, 134ppm Mo and 0.9g/t Ag from 66m to 126m; assays for the remaining interval are expected in late November
  • Hole 26JHD002 has been paused at 407m in a zone of strengthening mineralisation and will be extended to approximately 600m upon delivery of additional drill rods
  • Hole 26JHD003, targeting the previously untested NE drill area outside the current Mineral Resource Estimate limits, has had its planned depth extended to approximately 600m from 300m following encouraging observations
  • An interim Mineral Resource Estimate update is planned for early 2027, with drilling scheduled to continue for the remainder of 2026 and throughout much of 2027

John Hill Mineral Resource and Drilling Program Scope

The John Hill deposit holds an Inferred Mineral Resource Estimate of 254 million tonnes at 0.21% copper, 100ppm molybdenum and 1.1g/t silver, prepared by SRK Consulting and originally reported by Aeon Metals Ltd in November 2013. Canterbury acquired the Monto Project in May 2026. The Monto Project comprises six tenements covering a 20-kilometre corridor of mineralisation in central Queensland, located 100 kilometres southwest of Gladstone. Eight holes have been designed to date, with the program being amended and expanded based on progressive results. The current drilling is described in the filing as the first meaningful field work undertaken at the project since 2013.

Hole-by-Hole Drilling Results and Current Status

Hole 26JHD001, drilled as a 100-metre step-out north of historical drilling, was terminated at 275.5 metres in mineralisation due to drilling difficulties. The hole encountered broad intervals of quartz-hematite-pyrite-chalcopyrite veinlet stockwork mineralisation within altered granodiorite beneath a thick laterite horizon. Remaining assays from 126 metres to 275.5 metres are expected in late November. Hole 26JHD002 is testing continuity of mineralisation recorded in historical hole 12KC058, which intersected 171 metres at 0.31% copper, 115ppm molybdenum and 1.5g/t silver from 85 metres. It has encountered granodiorite and quartz-feldspar porphyry units beneath a 35-metre-thick sandstone unit and is paused at 407 metres pending additional drill rods.

NE Drill Target and Planned Extensions

Hole 26JHD003 is being drilled into the NE drill target, an area outside the current Mineral Resource Estimate limits that has not previously been tested. The hole is currently at 251.5 metres, having encountered a broad zone of fracture-controlled pyrite and chalcopyrite mineralisation from 160 metres to the current depth. The planned hole depth has been extended to approximately 600 metres from an original target of 300 metres. The filing also notes that additional step-out drilling is proposed to test extensions of the John Hill system toward the Kiwi Carpet porphyry copper-molybdenum prospect, located one kilometre to the north.