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Canterbury Resources (ASX:CBY) launches drilling program in Papua New Guinea

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Canterbury Resources commenced a drilling program on Manus Island, Papua New Guinea, targeting high-priority porphyry and skarn-style deposits.

The campaign will involve eight drill holes spanning over 2,000m.

Preparation for the initiative began in March, encompassing environmental baseline studies, the construction of field camps and a medical clinic, and the improvement and extension of local infrastructure.

Two drill rigs will focus on copper-gold targets at Willie Headwaters and Ndokowai.

Rio Tinto (ASX:RIO) is providing funding for the program under a farm-in and joint venture agreement, which allows Rio Tinto to increase its project equity from 60% to 80%.

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