Canterra Commences Deep-Seeking Geophysics Survey - Buchans Critical Minerals Project
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) has initiated a ground-based deep-seeking 3D array IP survey at its Buchans Critical Minerals Project in Central Newfoundland. The survey follows successful 2024 geophysical rock property measurements that showed strong correlation between mineralization and chargeability.
The program aims to map large stockwork mineralization zones similar to the Lundberg deposit and locate new buried high-grade Buchans style massive sulphide deposits. The company has contracted Abitibi Geophysics to conduct state-of-the-art DASAVISION©3DIP surveys, targeting areas including the Clementine and Sandfill deposits, Pumphouse prospect, and the Nu target.
Canterra plans to identify targets up to 800m depth and conduct 10,000 meters of diamond drilling in 2025, starting in Q2. The Buchans Project, covering 87.5 square kilometers, includes the historic Buchans Mine, which produced 16.2 Mt of high-grade ore averaging 14.5% Zn, 7.6% Pb, 1.3% Cu, 1.37 g/t Au & 126 g/t Ag from five orebodies.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) ha avviato un'indagine IP 3D a terra per la ricerca di profondità presso il suo Progetto Minerali Critici di Buchans nel Centro di Newfoundland. L'indagine segue misurazioni geofisiche di proprietà delle rocce del 2024 che hanno mostrato una forte correlazione tra mineralizzazione e carica.
Il programma mira a mappare ampie zone di mineralizzazione a stockwork simili al deposito di Lundberg e a localizzare nuovi depositi massivi di solfuri di alta qualità in stile Buchans sepolti. L'azienda ha incaricato Abitibi Geophysics di condurre indagini DASAVISION©3DIP all'avanguardia, mirando a aree che includono i depositi di Clementine e Sandfill, il prospetto di Pumphouse e l'obiettivo Nu.
Canterra prevede di identificare obiettivi fino a 800 m di profondità e di effettuare 10.000 metri di perforazione con diamante nel 2025, a partire dal secondo trimestre. Il Progetto Buchans, che copre 87,5 chilometri quadrati, include la storica Miniera di Buchans, che ha prodotto 16,2 Mt di minerale di alta qualità con una media del 14,5% di Zn, 7,6% di Pb, 1,3% di Cu, 1,37 g/t di Au e 126 g/t di Ag da cinque corpi minerari.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) ha iniciado una encuesta IP 3D de búsqueda profunda basada en tierra en su Proyecto de Minerales Críticos de Buchans en el Centro de Newfoundland. La encuesta sigue a mediciones geofísicas exitosas de propiedades rocosas en 2024 que mostraron una fuerte correlación entre la mineralización y la capacidad de carga.
El programa tiene como objetivo mapear grandes zonas de mineralización en stockwork similares al depósito de Lundberg y localizar nuevos depósitos masivos de sulfuros de alta ley al estilo Buchans enterrados. La empresa ha contratado a Abitibi Geophysics para llevar a cabo encuestas DASAVISION©3DIP de última generación, enfocándose en áreas que incluyen los depósitos de Clementine y Sandfill, el prospecto de Pumphouse y el objetivo Nu.
Canterra planea identificar objetivos hasta 800 m de profundidad y realizar 10,000 metros de perforación con diamante en 2025, comenzando en el segundo trimestre. El Proyecto Buchans, que abarca 87.5 kilómetros cuadrados, incluye la histórica Mina de Buchans, que produjo 16.2 Mt de mineral de alta ley con un promedio del 14.5% de Zn, 7.6% de Pb, 1.3% de Cu, 1.37 g/t de Au y 126 g/t de Ag de cinco cuerpos mineralizados.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF)는 중앙 뉴펀들랜드에 있는 부칸스 주요 광물 프로젝트에서 지상 기반의 깊이 탐색 3D 배열 IP 조사를 시작했습니다. 이 조사는 2024년 지구물리학적 암석 특성 측정이 광물화와 전하성 간의 강한 상관관계를 보여준 후 실시됩니다.
이 프로그램은 룬드버그 광산과 유사한 대규모 스톡워크 광물화 구역을 매핑하고 새로운 고등급 부칸스 스타일의 매립된 대량 황화물 광산을 찾는 것을 목표로 합니다. 이 회사는 클레멘타인 및 샌드필 광산, 펌프하우스 전망, Nu 타겟을 포함한 지역을 목표로 최첨단 DASAVISION©3DIP 조사를 실시하기 위해 Abitibi Geophysics에 계약했습니다.
Canterra는 800m 깊이까지 목표를 식별하고 2025년 2분기부터 10,000미터의 다이아몬드 시추를 수행할 계획입니다. 부칸스 프로젝트는 87.5 제곱킬로미터를 포함하며, 5개의 광체에서 평균 14.5% Zn, 7.6% Pb, 1.3% Cu, 1.37 g/t Au 및 126 g/t Ag의 고품질 광석 16.2Mt를 생산한 역사적인 부칸스 광산이 포함되어 있습니다.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) a lancé une enquête IP 3D à base terrestre pour la recherche en profondeur sur son Projet de Minéraux Critiques de Buchans dans le centre de Terre-Neuve. L'enquête fait suite à des mesures géophysiques réussies des propriétés des roches en 2024, montrant une forte corrélation entre la minéralisation et la capacité de charge.
Le programme vise à cartographier de grandes zones de minéralisation en stockwork similaires au dépôt de Lundberg et à localiser de nouveaux dépôts massifs de sulfures de haute qualité de style Buchans enfouis. L'entreprise a engagé Abitibi Geophysics pour réaliser des enquêtes DASAVISION©3DIP à la pointe de la technologie, ciblant des zones comprenant les dépôts de Clementine et Sandfill, le prospect de Pumphouse et la cible Nu.
Canterra prévoit d'identifier des cibles jusqu'à 800 m de profondeur et de réaliser 10 000 mètres de forage diamant en 2025, en commençant au deuxième trimestre. Le projet de Buchans, couvrant 87,5 kilomètres carrés, comprend l'historique mine de Buchans, qui a produit 16,2 Mt de minerai de haute qualité avec une moyenne de 14,5 % de Zn, 7,6 % de Pb, 1,3 % de Cu, 1,37 g/t d'Au et 126 g/t d'Ag provenant de cinq corps minéralisés.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) hat eine bodengestützte, tiefenorientierte 3D-IP-Umfrage in seinem Buchans-Projekt für kritische Mineralien im zentralen Neufundland initiiert. Die Umfrage folgt erfolgreichen geophysikalischen Messungen von Gesteinseigenschaften im Jahr 2024, die eine starke Korrelation zwischen Mineralisierung und Ladbarkeit zeigten.
Das Programm zielt darauf ab, große Stockwerk-Mineralisierungszonen ähnlich dem Lundberg-Vorkommen zu kartieren und neue begrabene Hochgrad-Massivsulfidvorkommen im Buchans-Stil zu lokalisieren. Das Unternehmen hat Abitibi Geophysics beauftragt, hochmoderne DASAVISION©3DIP-Umfragen durchzuführen, die Gebiete wie die Vorkommen Clementine und Sandfill, das Pumphouse-Projekt und das Nu-Ziel anvisieren.
Canterra plant, Ziele in Tiefen von bis zu 800 m zu identifizieren und 2025 insgesamt 10.000 Meter Diamantbohrungen zu durchführen, beginnend im zweiten Quartal. Das Buchans-Projekt, das eine Fläche von 87,5 Quadratkilometern umfasst, beinhaltet die historische Buchans-Mine, die 16,2 Mt hochgradiges Erz mit einem Durchschnitt von 14,5% Zn, 7,6% Pb, 1,3% Cu, 1,37 g/t Au und 126 g/t Ag aus fünf Erzkörpern produziert hat.
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Vancouver, British Columbia--(Newsfile Corp. - February 19, 2025) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (FSE: DXZB) ("Canterra" or the "Company") is pleased to announce the commencement of a ground-based deep-seeking 3D array IP survey of high-priority drilling and exploration targets on its Buchans Critical Minerals Project in the Central Newfoundland Mining District (Figure 1).
Highlights:
- The survey follows geophysical rock property measurements collected in 2024 from both archived past drill holes and drill cores from CTM's 2024 drill program that demonstrate strong correlation of mineralization with chargeability, a geophysical property best determined by Induced Polarization ("IP") geophysical surveys.
- The primary objective of the program is to map larger zones of stockwork mineralization similar to the Lundberg deposit, and vector towards new, buried high-grade Buchans style massive sulphide deposits that may be associated with large stockwork zones.
- Canterra is employing state-of-the-art DASAVISION©3DIP 3D Array Induced Polarization geophysical surveys ("3DIP") contracted from Abitibi Geophysics ("Abitibi"). Surveys will include multiple target areas covering prospective "Buchans" horizon rocks that remain under-explored along strike and down dip/plunge of known sulphide prospects. These include the undeveloped Clementine and Sandfill breccia-sulphide deposits, the Pumphouse massive sulphide prospect, and the early-stage Nu target highlighted by VRIFY AI's predictive modeling in 2024.
- The 3DIP surveys may also identify new targets within Canterra's recently expanded Buchans project that covers all past mined orebodies and key undeveloped prospects associated with the former Buchans Mine.
- Canterra plans to identify targets to depths of 800 m and anticipates undertaking 10,000 meters of diamond drilling in 2025 to test existing and new targets to be generated from the 3DIP surveys, with drilling scheduled to commence in Q2.
Chris Pennimpede, President and CEO of Canterra commented: "This survey marks a significant milestone for the Buchans project, with the potential to finally uncover another high-grade Buchans style deposit within the broader property area. We are excited to be embarking on a state-of-the-art deep-seeking geophysical survey that will leverage advanced technologies unavailable to past explorers to detect new buried deposits in this renowned and historic critical metals mining camp.
We anticipate 2025 will be a busy and exciting year for Canterra at Buchans as we enhance our efforts and expand exploration within the greater Buchan project towards the discovery of new high-grade orebodies comparable to those that made the Buchans Camp one of the world's highest grade VMS mining camps."
Survey details
The DASAVISION©3DIP survey represents the first modern, property-wide, ground-based geophysical geophysics survey in the project's history.
The surveys will include multiple target areas covering prospective "Buchans" horizon rocks that remain under explored at depth on strike and down dip/plunge of known sulphide prospects. These target areas include the undeveloped Clementine and Sandfill breccia-sulphide deposits, the Pumphouse massive sulphide prospect and the early-stage Nu target (Figure 1).
Buchans Project
The Buchans Project is an advanced critical minerals project that hosts a significant undeveloped mineral resource adjacent to the past producing Buchans Mine. This brownfield project was recently expanded to cover 87.5 square kilometers near the town of Buchans and includes the past producing Buchans Mine operated by Asarco from 1928 to 1984. The project's undeveloped resource, the Lundberg deposit, is a VMS stockwork sulphide deposit comprising a large, near-surface resource located beneath and adjacent to workings of the previously mined, high-grade Lucky Strike massive sulphide orebody. Asarco is reported to have mined high-grade ore totaling 16.2 Mt at an average grade of
Figure 1. 2025 Buchans IP Survey Outline & 2024 AI Targets. Hot colours correspond to higher prospectivity score derived from Vrify AI modelling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8054/241406_fac5506914bc59da_001full.jpg
Figure 2. Canterra's Central Newfoundland Mining District properties.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8054/241406_fac5506914bc59da_002full.jpg
Newfoundland and Labrador Junior Exploration Assistance & Town of Buchans
Canterra gratefully acknowledges the financial support it may receive from the Junior Exploration Assistance Program in relation to the Company's Buchans 2025 exploration program.
Canterra also wishes to gratefully acknowledge the cooperation and welcome support from the Town of Buchans and their approval of the Company's exploration activity near this historic mining centre.
Qualified Person
Paul Moore MSc. P.Geo. (NL), Vice President of Exploration for Canterra Minerals Corporation, a Qualified Person within the meaning of National Instrument 43-101, has reviewed the technical disclosure in this news release for accuracy and either prepared or supervised its preparation.
About Canterra Minerals
Canterra is a diversified minerals exploration company focused on critical minerals and gold in central Newfoundland. The Company's projects include six mineral deposits located in close proximity to the world-renowned, past producing Buchans mine and Teck Resources' Duck Pond mine that collectively produced copper, zinc, lead, silver and gold. Several of Canterra's deposits support current and historical Mineral Resource Estimates prepared in accordance with National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards for Mineral Resources and Mineral Reserves current at their respective effective dates. Canterra's gold projects are located on-trend of Calibre Mining's Valentine mine currently under construction and cover a ~60 km extension of the same structural corridor that hosts mineralization within Calibre's mine project. Past drilling by Canterra and others within the Company's gold projects intersected multiple occurrences of orogenic style gold mineralization within a large land position that remains underexplored.
Notes:
(1) Past production figures from Kirkham, R.V., ed., 1987, Buchans Geology, Newfoundland. Geological Survey of Canada,Paper 6-24, 288 p.
ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION
Chris Pennimpede
President & CEO
Additional information about the Company is available at www.canterraminerals.com
For further information, please contact: +1 (604) 687-6644
Email: info@canterraminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation, including statements with respect to estimated mineral resources, the opening of avenues for substantial discoveries within the belt, the Buchans Project being ripe for a modern approach with significant exploration potential for high grade VMS mineralization, the Company anticipating being strongly positioned to unveil the next mineral discovery in central Newfoundland. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects.; as well as those risks and uncertainties identified and reported in the Company's public filings under its SEDAR+ profile at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241406
FAQ
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