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Canterra Minerals Reports Results of IP Survey and Identifies New Drill Targets at the Lemarchant Critical Minerals Project, Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - August 29, 2023) - Canterra Minerals Corporation ...
About this update from Canterra Minerals Corporation
[{"type":"text","content":"Canterra Minerals Reports Results of IP Survey and Identifies New Drill Targets at the Lemarchant Critical Minerals Project, NewfoundlandVancouver, British Columbia--(Newsfile Corp. - August 29, 2023) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (\"Canterra\" or the \"Company\") is pleased to announce that new drill targets have been identified from an IP survey that was conducted over the Lemarchant Project. The Lemarchant Deposit is located in central Newfoundland approximately 50 kilometres (\"km\") south of Millertown. The ground based geophysical survey identified multiple chargeability and resistivity targets consistent with massive sulphide mineralization. Interpretation of the IP data is ongoing with several targets now drill ready.Key Points:Four high priority drill targets identified at the Lemarchant ProjectEach of these targets has a similar IP response and other coincident factors that suggest opportunities for resource expansion and/or a new discoveryA drill program designed to test these targets and other exploration opportunities is being planned for fall 2023 Chris Pennimpede, Canterra Minerals Director and CEO commented, \"The recent high resolution IP Survey provides new targeting information to drive our upcoming 2,500 metre drilling program at Lemarchant. IP geophysics is a proven tool for targeting massive sulphide bodies and there are several targets that share similarities to known high grade critical minerals mineralization that makes up the Lemarchant deposit. This new data strengthens our understanding of the deposit and provides new drill targets that if successful will increase resources.\"Summary of Drill Targets:Shallow IP chargeability anomalies of similar magnitude to the established deposit, located in favourable geology northwest of known Lemarchant mineralization, with no previous drillingShallow target anomalies that follow the fault displaced continuation of Lemarchant Deposit, coinciding with the IP anomaly trend Strong chargeability IP anomaly with potential deep extension of Lemarchant mineralization in down thrusted graben structureIP/magnetic anomaly and EM Conductor in prospective geological horizon, with no previous drilling Figure 1. Plan View of Lemarchant Project with IP anomalies indicated. Drill target areas circled in blueTo view an enhanced version of this graphic...