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Canterra Minerals Drills 60 metres of 2.25% CuEq, Including 26 metres of 3.17% CuEq from Surface at the Buchans Project, Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2024) - Canterra Minerals Corporatio...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Drills 60 metres of 2.25% CuEq, Including 26 metres of 3.17% CuEq from Surface at the Buchans Project, NewfoundlandVancouver, British Columbia--(Newsfile Corp. - November 13, 2024) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (\"Canterra\" or the \"Company\") is pleased to report initial results from the maiden drilling program at its 100% owned Buchans Project within the Central Newfoundland Mining District (Figure 1). Canterra holds Newfoundland's second-largest combined critical minerals inventory with seven resource-stage deposits. The Buchans Project hosts the Lundberg Copper-Zinc-Lead deposit, the largest and most advanced critical minerals deposit within the Central Newfoundland Mining District. In addition, the Buchans Project possesses considerable infrastructure and has previously included mining operations making it an excellent site for future development. Results for the first six drill holes of the eight hole program are highlighted below and are further summarized in Table 1. The purpose of the first six holes was to expand the Lundberg deposit as well as provide an initial testing of the Two Level target area located approximately 50 metres (\"m\") northwest of the Lundberg deposit (within the Buchans Project)(Figure 2). Drill Highlights - Lundberg (1&2):2.25% CuEq over 60.25 m (0.74% Cu, 3.92% Zn, 1.16% Pb, 11.5 g/t Ag & 0.16 g/t Au) from surface in hole H-24-3531Including 3.17% CuEq over 26.00 m (0.95% Cu, 6.13% Zn, 1.63% Pb, 13.9 g/t Ag and 0.20 g/t Au)0.90% CuEq over 121.45m (0.41% Cu, 1.08% Zn, 0.54% Pb, 4.41 g/t Ag & 0.04 g/t Au) in hole H-24-3527Low all-in drill cost of approximately $200/m across 1,600 m programResults should augment and enhance future resource estimate updates at Lundberg, the largest and most advanced Copper-Zinc-Lead deposit within the Central Newfoundland Mining District.Results will be incorporated into future VRIFY AI predictive modelling to identify and target mineralization elsewhere on the property.Assays are pending for the remaining two holes that targeted the area of higher-grade mineralization intersected in hole H-12-3531 as well as to test the central corridor of the Lundberg mineralization where potential remains to extend the deposit both at depth below the 2019 pit shell (165 m) and up to 35 metres north of the current resource...