Canter Resources Expands the Columbus Project to Approximately 30,000 Acres to Cover West Trending Lithium Brine Target

Rhea-AI Summary

Canter Resources Corp. expands land package at Columbus Lithium-Boron Project after interpreting third-party data and completing 3D modeling. Highly anomalous lithium values found, leading to increased acreage. Company to commence Geoprobe drilling for further exploration.

Positive

• Canter Resources Corp. expands its land package at the Columbus Lithium-Boron Project after interpreting third-party data and completing 3D modeling.
• Highly anomalous lithium values are discovered along the western edge of the project, prompting the company to stake additional ground and increase the land package to 29,600 acres (119 km²).
• The 3D modeling and HSAMT resistivity shells reveal a broadening and open-ended conductive zone with significant potential for lithium-bearing brines beyond the original property boundaries.
• CEO Joness Lang expresses excitement about the expanded land package and the upcoming Geoprobe drilling to explore the potential resources further.
• The company plans to implement a Phase II exploration program with expanded geophysical survey coverage to map out resistivity and structural profiles across the newly acquired acreage.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - April 7, 2024) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company") is pleased to report that, after interpreting recently acquired third party data and completing 3D modeling, the Company's technical team immediately mobilized to site to stake the limited open ground along the western edge of the Columbus Lithium-Boron Project ("Columbus" or the "Project"). The full surface sampling dataset, shown in Figure 1, includes highly anomalous lithium ("Li") values along the Company's previous western boundary and beyond. Furthermore, the Company's 3D modeling, and particularly the HSAMT resistivity shells, highlighted a broadening and open-ended conductive zone trending west with only two (2) kilometres to the limits of the Company's previous property boundary (see press release dated March 30, 2024). The land package now stands at a commanding 29,600 acres (119 km²).

"We are thrilled to have significantly expanded our land package at Columbus to encompass the full extent of the most prospective ground for lithium-enriched brines before commencing our drill campaigns," stated Joness Lang, CEO of Canter Resources. "Our team sees tremendous potential at Columbus and we are excited to get underway with Geoprobe drilling, which will commence imminently."

Watch: Video animation highlighting Columbus surface and 3D model results, newly staked ground and substantial Li-brine target with initial drill locations. Watch Video Here >

The 3D modeling has been instrumental in revealing the expansive potential within the Columbus Project area. By carefully analyzing the geological structures and resistivity patterns, the Company has identified a westward-trending conductive zone that signifies a broadening corridor of potential lithium-bearing brines. This insight is critical, as it suggests a continuous zone extending beyond the original property boundaries (see Figure 1).

Moreover, the HSAMT data has been pivotal in understanding the subsurface characteristics of the Project area. The HSAMT survey's leading edge terminated within an area exhibiting extremely low resistivity, indicative of highly conductive material likely associated with brine concentrations. This cutoff, due to the survey reaching its westernmost extent, aligned with the trend of anomalous lithium values in surface sediments extending westward. This discovery underpins the decision to expand the land package, thereby increasing the scope for further exploration and potential resource identification.

Figure 1: Figure showing expanded land package, differentiating between current claim boundary and newly staked ground, highlighting the <0.5 ohm-metre HSAMT openness to the west and full third-party data including the western flank samples within previous boundary and extending beyond.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10112/204646_3118d57ac445eb1f_001full.jpg

Canter Resources is now poised to implement a more comprehensive Phase II exploration program. This next phase will include expanded geophysical survey coverage, aiming to thoroughly map out the resistivity and structural profiles across the newly acquired acreage.

Photo 1: Canter's Senior Geologist, Trevor Hawkins, staking a Geoprobe collar location during the recent western expansion claim staking trip at the Company's Columbus Lithium-Boron Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10112/204646_3118d57ac445eb1f_002full.jpg

Qualified Person (QP)

The technical information contained in this news release was reviewed and approved by Eric Saderholm P.Geo, Director and Technical Advisor of Canter Resources, a Qualified Person (QP), as defined under National Instrument 43- 101 - Standards of Disclosure for Mineral Projects.

About Canter Resources Corp.

Canter Resources Corp. is a Canadian junior mineral exploration company advancing the Columbus Lithium-Boron Project in Nevada, USA and the Beaver Creek Lithium Property in Montana, USA. The Company is preparing for a Phase I drill campaign at Columbus to test a highly prospective lithium-brine target and plans to leverage the Company's critical metals targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the domestic clean energy supply chain in North America.

For further information contact:

Joness Lang
Chief Executive Officer
Canter Resources Corp.
jlang@canterresources.com

For investor inquiries contact:

Kristina Pillon, High Tide Consulting Corp.
Tel: 604.908.1695
investors@canterresources.com

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204646

FAQ

What prompted Canter Resources Corp. to expand its land package at the Columbus Lithium-Boron Project?

Canter Resources Corp. expanded its land package after interpreting third-party data and completing 3D modeling, which revealed highly anomalous lithium values along the western edge of the project.

How much did the land package increase by after the recent expansion?

The land package at the Columbus Lithium-Boron Project now stands at 29,600 acres (119 km²) after the recent expansion.

What did the 3D modeling and HSAMT resistivity shells reveal about the project?

The 3D modeling and HSAMT resistivity shells highlighted a broadening and open-ended conductive zone with significant potential for lithium-bearing brines beyond the original property boundaries.

Who is the CEO of Canter Resources Corp. and what is his stance on the expanded land package?

Joness Lang is the CEO of Canter Resources Corp., and he expressed excitement about the expanded land package and the upcoming Geoprobe drilling to explore potential resources further.

What is the next phase of exploration for Canter Resources Corp. at the Columbus Lithium-Boron Project?

The next phase of exploration for Canter Resources Corp. includes an expanded geophysical survey coverage to map out resistivity and structural profiles across the newly acquired acreage.