Business
Canterra Minerals Acquires Additional 3.6 km Strike Length of the Valentine Lake Shear Zone Which Hosts All the Gold Deposits at Calibre Mining's Valentine Mine
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - Canterra Minerals Corporation ...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Acquires Additional 3.6 km Strike Length of the Valentine Lake Shear Zone Which Hosts All the Gold Deposits at Calibre Mining's Valentine MineVancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (\"Canterra\" or the \"Company\") is pleased to announce staking of an additional 3.6 kilometre (\"km\") segment of the Valentine Lake Shear Zone (\"VLSZ\"). With the addition of this property Canterra has further consolidated its land position to cover approximately 60 km of strike along the gold-bearing structural corridor (Valentine Lake/ Cape Ray Shear Zone) that hosts Calibre Mining's Valentine gold mine that is currently under construction, located less than 18 km southwest of Canterra's property. The new claims are located less than 5 km on strike from a number of Canterra's gold in bedrock prospects where previous drilling returned intercepts of 10.0 grams per tonne (\"g/t\") Au over 5.35 metre (\"m\") core length, including 49.9 g/t Au over 0.98 m (Antler Gold Inc. news release dated December 13, 2017) and 0.57 g/t Au over 42.0 m core length (see news release dated April 19, 2022). The additional property comprises 47 claims covering 11.75 square kilometres (\"km2\") (1,175 ha) that is contiguous to Canterra's existing land position. Highlights:Canterra's expanded land position covers ~60 km of the northeast extension of the gold-bearing structural corridor that hosts Calibre's Valentine gold mine ~18 km southwest of Canterra's property.Previous work undertaken by Canterra, and past operators have identified multiple gold-in-bedrock prospects within the expanded land position as well as numerous gold-in-soil and till anomalies located proximal to structural breaks highlighted by recent geophysical surveys.Given the recent increased profile of central Newfoundland's gold potential with the entry of multiple gold production companies including Calibre Mining at the Valentine Mine, B2Gold as shareholder of AuMega Metals at its Cape Ray deposit , and Eldorado Gold through its option with TRU Precious Metals at Golden Rose, Canterra is well positioned with a district scale property position covering a key portion of this prolific gold bearing structural corridor that isn't yet controlled by a major miner.Canterra is initiating drilling on its high...