Key Highlights

  • Drilling at John Hill commenced on 1 September 2026, with 957.5 metres completed across three holes.
  • Hole 26JHD01 returned 60 metres at 0.23 percent copper from 66 to 126 metres, with remaining assays due in late November.
  • The current mineral resource stands at 254 million tonnes at 0.21 percent copper.
  • Hole 26JHD01 was terminated at 275.5 metres due to drilling difficulties, while two other holes have been extended.

Canterbury Resources Limited (ASX:CBY) has reported encouraging early progress from its major drilling program at the John Hill copper-molybdenum-silver deposit, which forms part of the Monto Project in central Queensland. The update, dated 12 November 2026, comes as the company works to expand the existing mineral resource. The deposit has a mineral resource estimate of 254 million tonnes at 0.21 percent copper, 100 parts per million molybdenum and 1.1 grams per tonne silver.

Early assays and the step-out drilling

Hole 26JHD01 was drilled as a 100 metre step-out north of historical drilling and encountered broad quartz-hematite-pyrite-chalcopyrite veinlet stockwork within altered granodiorite, beneath a thick laterite horizon. Assays for the first 126 metres returned 60 metres at 0.23 percent copper, 134 parts per million molybdenum and 0.9 grams per tonne silver, between 66 and 126 metres. Assays for the remainder of the hole are expected in late November.

The hole was terminated in mineralisation at 275.5 metres because of drilling difficulties. The company proposes further step-out drilling to test whether the system extends toward the Kiwi Carpet porphyry copper-molybdenum prospect, about 1 kilometre to the north.

Holes 26JHD02 and 26JHD03

Hole 26JHD02 is testing the continuity of consistent mineralisation in historical hole 12KC058, which returned 171 metres at 0.31 percent copper. The hole encountered disseminated and vein-hosted chalcopyrite and molybdenite beneath 35 metres of sandstone. It was paused at 407 metres in a zone of strengthening mineralisation and will be extended to around 600 metres.

Hole 26JHD03 is drilling the northeast target, which lies outside the current resource limits. It had reached 251.5 metres with fracture-controlled pyrite and chalcopyrite mineralisation from 160 metres. Its planned depth has been increased from 300 metres to around 600 metres.

Final Word

The John Hill drilling program is extending beyond the current resource boundaries, with deeper holes planned and an interim resource update targeted for early 2027. Only one hole has reported assays so far, and the outcome of the northeast target and the step-out drilling will determine whether the deposit grows materially. The company has not yet quantified how the new assays will affect the resource.