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Canterra Minerals Announces Gravity Targets, Initiates Review of Property-Wide Exploration Data at Its Long Lake Project in Central Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - April 29, 2024) - Canterra Minerals Corporation (...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Announces Gravity Targets, Initiates Review of Property-Wide Exploration Data at Its Long Lake Project in Central NewfoundlandVancouver, British Columbia--(Newsfile Corp. - April 29, 2024) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (\"Canterra\" or the \"Company\") is pleased to announce results from a recently completed ground gravity survey over its Long Lake Project in central Newfoundland, Canada. The gravity survey returned promising results, including detection of positive gravity anomalies, in underexplored areas proximal to Canterra's Long Lake deposit. Highlights:Long Lake Main Zone horizon detected as an open-ended, 2 kilometre (\"km\") long gravity anomaly and remains underexplored at depthMultiple positive gravity anomalies detected in underexplored areas, including several anomalies coincident with recommended drill targets by Abitibi Geophysics, who operated the gravity surveyBased on the initial results of the gravity survey, the Company has commenced a review of the gravity results in conjunction with other available datasets, including IP surveys completed by Canterra in 2022 (see June 13, 2023 press release). This review will assess the targets generated by Abitibi Geophysics as well as identify deeper drilling targets associated with the known Long Lake mineralized horizons. \"Long Lake has tremendous exploration potential and was identified as such when going through the due diligence process in 2021 prior to acquisition. The project contains a small historical resource based on very limited drilling and also has a patchwork of geophysical survey coverage, suggesting that there were extensions to not only the deposit, but potentially new massive sulfide lenses to be found. We are pleased with these gravity results as they continue to support that thesis. Therefore, Long Lake is a priority exploration opportunity within our central Newfoundland Mining District portfolio. We now look forward to advancing this and our other central Newfoundland projects for further testing by drilling\" stated Chris Pennimpede, President & CEO of Canterra. The Long Lake deposit hosts potential for expansion at depth in addition to hosting additional mineralized horizons considered prospective for new high-grade VMS discoveries. Previous drill highlights from the Long Lake Zone include drille...