Canterra Outlines 2025 Drill Targets at the Buchans Critical Minerals Project
Canterra Minerals has announced its 2025 exploration plans for the Buchans Critical Minerals Project in Newfoundland. The company has identified five priority drill targets and plans to initiate deep-seeking geophysical surveys in Q1, followed by substantial drilling in Q2.
The exploration will focus on the Clementine (7km trend with historical resource of 0.36 Mt), Sandfill (historical resource of 68,000 tonnes), Pumphouse (near past-producing Oriental orebody), and Nu target areas. The company will also continue work on the Lundberg deposit, which contains Indicated Mineral Resources of 156M pounds Cu, 566M pounds Zn, 237M pounds Pb, and significant precious metals.
The 2024 drilling program yielded notable results, including intersections of 60.25m of 2.58% CuEq and 105.00m of 1.53% CuEq. The 2025 program represents the largest exploration effort at the project in the past decade.
Canterra Minerals ha annunciato i suoi piani di esplorazione per il 2025 relativi al Buchans Critical Minerals Project in Newfoundland. L'azienda ha identificato cinque obiettivi prioritari per perforazione e prevede di avviare indagini geofisiche profonde nel primo trimestre, seguite da una considerevole attività di perforazione nel secondo trimestre.
L'esplorazione si concentrerà sulle aree Clementine (tendenza di 7 km con risorse storiche di 0,36 Mt), Sandfill (risorse storiche di 68.000 tonnellate), Pumphouse (vicino a un corpo minerario precedentemente produttivo chiamato Oriental) e Nu target. L'azienda continuerà anche il lavoro sul Lundberg deposit, che contiene risorse minerarie indicate di 156 milioni di libbre di Cu, 566 milioni di libbre di Zn, 237 milioni di libbre di Pb e notevoli metalli preziosi.
Il programma di perforazione del 2024 ha prodotto risultati significativi, inclusi incroci di 60,25 m con 2,58% CuEq e 105,00 m con 1,53% CuEq. Il programma del 2025 rappresenta il maggior sforzo di esplorazione nel progetto negli ultimi dieci anni.
Canterra Minerals ha anunciado sus planes de exploración para 2025 relacionados con el Buchans Critical Minerals Project en Terranova. La empresa ha identificado cinco objetivos prioritarios para perforación y planea iniciar encuestas geofísicas profundas en el primer trimestre, seguidas de una perforación sustancial en el segundo trimestre.
La exploración se centrará en las áreas de Clementine (tendencia de 7 km con recursos históricos de 0,36 Mt), Sandfill (recursos históricos de 68,000 toneladas), Pumphouse (cerca del cuerpo mineral Oriental que tuvo producción en el pasado), y Nu target. La empresa también continuará trabajando en el Lundberg deposit, que contiene recursos minerales indicados de 156 millones de libras de Cu, 566 millones de libras de Zn, 237 millones de libras de Pb y metales preciosos significativos.
El programa de perforación de 2024 dio resultados notables, incluyendo intersecciones de 60.25 m con 2.58% CuEq y 105.00 m con 1.53% CuEq. El programa de 2025 representa el mayor esfuerzo de exploración en el proyecto en la última década.
Canterra Minerals는 뉴펀들랜드의 Buchans Critical Minerals Project에 대한 2025년 탐사 계획을 발표했습니다. 회사는 다섯 개의 우선 탐사 목표를 확인하고 1분기에 심층 지구물리 조사에 착수한 뒤 2분기에 대규모 시추를 계획하고 있습니다.
탐사는 Clementine (7km 트렌드, 역사적 자원 0.36 Mt), Sandfill (역사적 자원 68,000톤), Pumphouse (이전에 생산된 동부 광맥 근처), 그리고 Nu target 지역에 집중될 것입니다. 회사는 또한 156M 파운드 Cu, 566M 파운드 Zn, 237M 파운드 Pb 및 상당한 귀금속을 포함하는 Lundberg deposit에 대한 작업을 지속할 것입니다.
2024년의 시추 프로그램은 60.25m에서 2.58% CuEq와 105.00m에서 1.53% CuEq의 교차점이 포함된 주목할 만한 결과를 가져왔습니다. 2025년 프로그램은 지난 10년 동안 프로젝트에서 가장 큰 탐사 노력으로 평가됩니다.
Canterra Minerals a annoncé ses plans d'exploration pour 2025 concernant le Buchans Critical Minerals Project à Terre-Neuve. L'entreprise a identifié cinq cibles de forage prioritaires et prévoit de lancer des enquêtes géophysiques approfondies au premier trimestre, suivies d'un forage substantiel au deuxième trimestre.
L'exploration se concentrera sur les zones de Clementine (tendance de 7 km avec une ressource historique de 0,36 Mt), Sandfill (ressource historique de 68 000 tonnes), Pumphouse (près du gisement minier Oriental sous exploitation dans le passé) et sur les zones Nu target. L'entreprise continuera également à travailler sur le Lundberg deposit, qui contient des ressources minérales indiquées de 156 millions de livres de Cu, 566 millions de livres de Zn, 237 millions de livres de Pb et des métaux précieux significatifs.
Le programme de forage de 2024 a donné des résultats notables, y compris des intersections de 60,25 m à 2,58% CuEq et de 105,00 m à 1,53% CuEq. Le programme 2025 représente le plus grand effort d'exploration sur le projet au cours de la dernière décennie.
Canterra Minerals hat seine Explorationspläne für 2025 für das Buchans Critical Minerals Project in Neufundland bekannt gegeben. Das Unternehmen hat fünf priorisierte Bohrziele identifiziert und plant, im ersten Quartal tiefreichende geophysikalische Erhebungen durchzuführen, gefolgt von einer umfangreichen Bohrkampagne im zweiten Quartal.
Die Exploration wird sich auf die Gebiete Clementine (7 km Trend mit historischen Ressourcen von 0,36 Mt), Sandfill (historische Ressourcen von 68.000 Tonnen), Pumphouse (nahe dem ehemaligen Produktionsgebäude Oriental) und die Bereiche Nu target konzentrieren. Das Unternehmen wird auch die Arbeiten an dem Lundberg deposit fortsetzen, das angezeigte Mineralressourcen von 156 Millionen Pfund Cu, 566 Millionen Pfund Zn, 237 Millionen Pfund Pb und bedeutende Edelmetalle enthält.
Das Bohrprogramm 2024 lieferte bemerkenswerte Ergebnisse, darunter Schnitte von 60,25 m mit 2,58% CuEq und 105,00 m mit 1,53% CuEq. Das Programm 2025 stellt die größte Erkundungsanstrengung im Projekt im letzten Jahrzehnt dar.
- Strong 2024 drill results: 105m of 1.53% CuEq including 14m of 5.39% CuEq
- Substantial indicated mineral resources at Lundberg: 156M lbs Cu, 566M lbs Zn, 237M lbs Pb
- 97.8% of In-Pit resources classified as Indicated category
- Project located in established mining district with historical high-grade production
- Historical resources at Clementine and Sandfill are non-NI 43-101 compliant
- Most target areas remain largely untested at depth
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (FSE: DXZB) ("Canterra" or the "Company") is pleased to announce its 2025 exploration plans for the Buchans Critical Minerals Project (the "Buchans Project"), located in the Central Newfoundland Mining District. (Figure 1).
Figure 1. Canterra's Central Newfoundland Mining District properties.
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Highlights:
Canterra intends to significantly expand exploration activities at Buchans in 2025 by initiating programs building on the success of its 2024 drill program (105.00 m of
1.53% (1)CuEq; December 2, 2024 news release)Identification of five priority drill targets
Advanced deep-seeking geophysical survey to commence in Q1 to further refine drill targets
substantial drilling scheduled to begin in Q2 focused on making new high-grade massive sulphide discoveries, including further testing of the Lundberg deposit and adjacent high-grade Two Level zone
Figure 2. 2025 Buchans Project Targets. Priority drill targets at the Buchans Project and previously mined orebodies. Lundberg deposit outline projected to surface in dark blue.
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Clementine - This 7 km trend has all the ingredients of the existing mine trend and includes a historical, non-NI 43-101 compliant resource of 0.36 Mt grading
Highlights from this trend include:
- A drilled intercept located approximately 900 m southwest of the Clementine deposit that cut altered felsic volcanic rocks assaying
0.36% Cu+Zn+Pb over 55 m, including 8.7 m assaying0.01% Cu,0.34% Zn,0.08% Pb, and 0.84 g/t Ag (estimated true widths)(2). - Relogging by Canterra in 2024 visually identified barite clasts similar to those commonly found within or adjacent to Buchans ore deposits within the Clementine Target ~6 km southwest of the Clementine deposit.
Sandfill - 3 km northeast of Canterra's Lundberg deposit, the historical Sandfill deposit represents an undeveloped zone of transported debris breccia mineralization similar to Clementine. At Sandfill, previous operators estimated a historical, non NI 43-101-compliant resource of 68,000 tonnes averaging
Drill testing of this zone by previous operators yielded multiple intersections of transported breccia mineralization including:
0.69% Cu,5.15% Zn,1.58% Pb, 33.5 g/t Ag and 0.21 g/t Au over 7.0 m,
including2.96% Cu,15.5% Zn,5.13% Pb, 96.4 g/t Ag and 0.27 g/t Au over 1.0 m(3).
Pumphouse - Situated 500 m northwest of the past producing Oriental orebody (where Asarco is reported to have mined 3.3 Mt averaging
Historic drill testing of this zone intersected classic Buchans high-grade massive sulphide mineralization including:
2.6% Cu,23.7% Zn,9.0% Pb, 147.4 g/t Ag & 3.4 g/t Au over 2.74 m(3); and2.65% Cu,24.85% Zn,10.75% Pb, 212.9 g/t Ag & 1.48 g/t over 2.38 m (3)
Nu target - Artificial Intelligence driven modelling supported by VRIFY identified this target area as having high prospectivity to host high-grade Buchans-style massive sulphide mineralization comparable to existing mine trends (October 10, 2024 news release). Preliminary review of this target (drill core and historical data) suggests the area received limited past drilling ,though the area may host several key conditions for Buchans-style mineralization including favourable host rocks and indications of alteration and mineralization in float (i.e., prospecting rock samples).
Lundberg Deposit
In 2024, Canterra completed a 1,600 m maiden drilling program at Buchans to further delineate and explore near the margins of its Lundberg deposit, the largest and most advanced copper-zinc-lead deposit within the Central Newfoundland Mining District. Drilling returned multiple intercepts of higher grade stockwork sulphide mineralization containing significant copper equivalent ("CuEq") grades adjacent to historically mined high-grade massive sulphide orebodies(1). Highlights include (December 2, 2024 news release):
- 60.25 m of
2.58% CuEq- including 26 m
3.71% CuEq
- including 26 m
- 105.00 m of
1.53% CuEq- including 14.00 m of
5.39% CuEq, and - 78.00 m of
2.00% CuEq - including 22.00 m of
2.96% CuEq
- including 14.00 m of
In 2025 the company will pick up where 2024 left off as it seeks to expand the resource in peripheral areas.
The Lundberg copper-zinc-lead deposit includes In-pit Indicated Mineral Resources containing 156 million pounds Cu, 566 million pounds Zn, 237 million pounds Pb, 3.1 million ounces Ag, & 37,000 ounces Au as well as In-pit Inferred Mineral Resources totaling 380,000 tonnes containing 3.0 million pounds Cu, 17 million pounds Zn, 9 million pounds Pb, 270,000 ounces Ag, & 38,000 ounces Au and assigns
Chris Pennimpede, President and CEO of Canterra, commented: "We look forward with great anticipation as 2025 promises to be a busy and exciting year at Buchans for Canterra as we enhance our efforts and expand exploration of the greater Buchans project towards discovery of new high-grade orebodies comparable to those that established the Buchans Camp as one of the world's highest grade VMS mining camps. After careful review of available data, including geophysical data collected as part of our 2024 drilling and relogging programs, we also look forward to undertaking deep-seeking geophysical surveys throughout the greater project to identify and enhance drilling targets for the 2025 drill program. With recent drilling success at Lundberg we also look forward to advancing this deposit further towards development through the addition of mineral resources at improved prevailing metal pricing and exploration of near-deposit opportunities that may add metal inventory to this advanced asset. 2025 will see the largest exploration program of this project in the past decade."
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 covers 87.5km2 near the town of Buchans, NL. The past producing Buchans Mine was 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 previous mining. Asarco is reported to have mined high-grade ore totaling 16.2 Mt at an average grade of
Newfoundland and Labrador Junior Exploration Assistance
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.
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 seven mineral deposits located in close proximity to the world-renowned, past producing Buchans mine and Teck Resources' Duck Pond mine that both produced copper, zinc, lead, silver and gold. Several of Canterra's deposits support 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 is not treating any of the historical estimates as current; nor has Canterra undertaken work necessary to verify the historic estimates. 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) Copper Equivalent % = Cu% + ((Pb% * 22.046 * Pb Rec.* Pb price) + (Zn% * 22.046 *Zn Rec. * Zn price) + (Ag g/t/31.10348 *Ag Rec. * Ag price) + (Au g/t/31.10348 * Au Rec. * Au Price))/(Cu Price * 22.046 *Cu Rec.). Metal recoveries are assumed to be
(2) Canterra is not treating historical estimate as current; nor has Canterra undertaken work necessary to verify the historic estimate. The historic estimate should not be relied upon. Information pertaining to the historic estimate is derived from archival documents produced by ASARCO, former operators of the Buchans mine.
(3) Drilled assays derived from historic archived ASARCO documents (pre-NI 43-101 as well as more recent results (2010-2018) disclosed by other past operators (disclosed in compliance with NI 43-101 disclosure requirements at the time of their disclosure). Core lengths reported (true widths estimated to be
(4) Past production figures from Kirkham, R.V., ed., 1987, Buchans Geology, Newfoundland. Geological Survey of Canada, Paper 86-24, 288 p.
(5) Lundberg mineral resource details available in Technical Report titled: "NI 43-101 Technical Report and Mineral Resource Estimate on the Lundberg Deposit, Buchans Area, Newfoundland and Labrador, Canada"; dated May 16, 2024, effective date March 12, 2024; prepared by Matthew Harrington, P.Geo., of Mercator Geological Services, an independent QP as defined under NI 43-101 (report available under the Company's profile on SEDAR+ at www.sedarplus.ca or the Company's website at www.canterraminerals.com). Lundberg Mineral Resource Estimate effective date February 2019.
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.
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FAQ
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