Business
Canterra Minerals Provides Drilling Update and Defines Additional Drill Targets Along the Valentine Lake Shear Zone, Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2021) - Canterra Minerals Corporat...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Provides Drilling Update and Defines Additional Drill Targets Along the Valentine Lake Shear Zone, NewfoundlandVancouver, British Columbia--(Newsfile Corp. - October 25, 2021) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (\"Canterra\" or the \"Company\") is pleased to provide an update to its fall drill program and to announce that it has defined several new gold targets on the never-before-explored western part of its Wilding Gold Project (\"Wilding\") in central Newfoundland. Assay results are pending for all drill holes.Highlights:2,400m completed in 10 drill holes, almost half of the planed meterage of the fall drill programThe first holes ever drilled into the Valentine Lake Shear Zone (\"VLSZ\") intersected the Valentine Lake intrusion, mafic dikes and quartz- veins similar to the deposit setting at the neighboring Valentine Lake Gold projectGold-in-soil samples returned 11 to 167 ppb Au along the trace of the VLSZ as it trends northeast from Marathon Gold's Valentine Lake Gold Project Gold-in-soil samples returned 12 to 49 ppb Au, indicating a new target in the previously unsampled western portion of the Wilding propertyResults from summer and fall work indicate that the same geological setting to that of Marathon Gold's deposits exists on the Wilding project as the VLSZ trends for 7.5km across the Wilding projectChris Pennimpede, CEO & President of Canterra, commented, \"Identification of the Valentine Lake Shear Zone, and the intersection of the same lithologies and veining in drilling as seen next door at Marathon Gold, is an important confirmation of the geological model underlying exploration at Wilding and a very positive step forward for Canterra. The continuation of gold anomalies on the newly explored western part of the project continues to prove that the exploration potential for an orogenic style gold deposit on the property extends for the entirety of the 7.5km of the VLSZ that the Wilding project covers. We look forward to receiving assay results from the first holes in the VLSZ.\"Geochemical ResultsResults from summer 2021 soil sampling have been received, and have revealed new gold targets, including a zone of elevated Au grades (from 11 to 167 ppb Au) along the inferred continuation of the VLSZ near the western margin of Wilding. This target adds to several other gold-i...