Welcome to our dedicated page for Canterra news (Ticker: CTMCF), a resource for investors and traders seeking the latest updates and insights on Canterra stock.
Canterra Minerals Corporation (CTMCF) delivers focused exploration updates from Newfoundland’s critical minerals sector. This page aggregates official announcements, technical developments, and strategic initiatives from the company advancing brownfield projects through AI-enhanced methods.
Investors and industry observers will find timely updates on resource evaluations, drilling results, and partnership agreements. Content spans permit approvals, geophysical survey findings, and operational milestones across key assets including the Buchans Project and Lundberg deposit.
All materials maintain strict compliance with disclosure standards, offering verified updates on exploration techniques, infrastructure developments, and mineral resource estimates. Regular updates ensure stakeholders stay informed about progress in this historically significant mining district.
Bookmark this page for consolidated access to CTMCF’s evolving story as it applies modern exploration technologies to established mineral trends. Check back frequently for new releases detailing advancements in critical minerals discovery and project development.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) has successfully listed on the Frankfurt Stock Exchange under ticker DXZB. The listing follows recent exploration successes from their maiden drill program, which yielded significant copper results including:
- 1.53% copper equivalent over 105m from 68m below surface
- 2.00% CuEq over 78m from surface
- 2.58% CuEq over 60.25m from surface, including 26m of 3.71% CuEq
The company, focused on critical minerals in Newfoundland, is now listed on TSXV, OTC Markets, and FSE, positioning itself to attract international investors and increase liquidity in the critical minerals sector.
Canterra Minerals has announced a brokered private placement targeting gross proceeds of up to C$3.0 million. The offering includes Units at C$0.10 each (minimum sale of 5,000,000 Units) and Flow-Through Shares at C$0.12 each. Each Unit consists of one common share and half a warrant, with each whole warrant exercisable at C$0.15 for 36 months.
Red Cloud Securities will act as sole agent and bookrunner, with an option to sell additional C$500,000 in securities. Proceeds will fund exploration in central Newfoundland and working capital. The Flow-Through Share proceeds will qualify as flow-through critical mineral mining expenditures, to be incurred by December 31, 2025. The offering is expected to close around December 19, 2024, subject to TSXV approval.
Canterra Minerals has announced significant drilling results from its Buchans Project in Newfoundland. Key highlights include intersections of 1.53% copper equivalent over 105 metres including 14 metres of 5.39% copper equivalent, and 2.00% copper equivalent over 78 metres from surface. These results expand known mineralization at the Lundberg deposit, which currently contains Indicated Resources of 156 million pounds Cu, 566 million pounds Zn, 237 million pounds Pb, and significant precious metals. The deposit represents one of Newfoundland's largest undeveloped critical minerals inventories.
Canterra Minerals reports successful correlation between its 2024 drilling results and VRIFY AI's predictive model at the Buchans Project. Recent drilling yielded 60 metres of 2.25% Copper Equivalent, aligning with AI-generated targets. The VRIFY AI technology has identified several prospective areas, including the promising Nu target in the southern central portion of the property.
The AI model integrates multiple datasets, including airborne geophysical data, geological mapping, drill core data, and over 1,800 magnetic susceptibility readings. The technology has effectively analyzed over 400,000 metres of historical drilling data to refine mineral predictions and identify new exploration targets.
Canterra Minerals reports initial results from its maiden drilling program at the Buchans Project in Newfoundland. Significant drill highlights include 2.25% CuEq over 60.25m from surface, including 3.17% CuEq over 26m in hole H-24-3531. The program achieved low all-in drill costs of approximately $200/m across a 1,600m program. The Buchans Project hosts the Lundberg Copper-Zinc-Lead deposit, the largest critical minerals deposit in the Central Newfoundland Mining District. Results from the first six holes aim to expand the Lundberg deposit and test the Two Level target area.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) has received initial results from its partnership with VRIFY Technology's AI-assisted mineral discovery platform for the Buchans Project in Newfoundland. The AI analysis has revealed new promising targets in underexplored areas and validated existing mineralized trends. Key highlights include:
1. AI modelling confirmed and highlighted new target areas for Buchans-style massive sulphide mineralization.
2. The model successfully validated known mineralization, including resources at the undeveloped Lundberg base metal deposit.
3. New data will continuously refine the AI model, identifying additional exploration targets.
4. The AI-driven approach enables efficient value extraction from existing datasets.
The Buchans Project covers 83.25 km² and includes the former Buchans Mine, which produced 16.2 million tonnes of high-grade ore. The project also hosts the undeveloped Lundberg deposit with significant Indicated Resources.
Canterra Minerals has entered into an Option Agreement with Teck Resources , granting Teck the option to acquire a 100% interest in Canterra's Ring of Fire property in northeastern Ontario, Canada. The agreement, effective September 17, 2024, includes a 1.5% Net Smelter Royalty retained by Canterra.
Key terms of the agreement include:
- Gross proceeds of $275,000 to Canterra
- A 1.5% Net Smelter Returns royalty for Canterra, reducible to 0.5% if Teck pays an additional $2,000,000
- Payment schedule: $50,000 paid, $125,000 due after permit date, and $100,000 due 30 business days after drill program completion or 24 months from the effective date
This deal allows Canterra to focus on its projects in the Central Newfoundland Mining District while maintaining exposure to the Ring of Fire Project's potential success.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) announces a live virtual corporate update on September 18th, 2024, at 2:00 PM E.T., hosted by Red Cloud Financial Services. CEO Chris Pennimpede will present on Canterra's recent acquisition in central Newfoundland, including the past-producing Buchans Mine. The company now owns all 6 known deposits in the region and exploration ground adjacent to Calibre Mining's Valentine Mine.
Additionally, Canterra announces a management change. CFO Harry Chan is departing, and Sara Hills, a CPA, CA with over 20 years of experience, joins as the new CFO. Ms. Hills has been granted 200,000 incentive stock options at $0.05 per share, exercisable for five years.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) has initiated a 2,000-meter maiden drilling program at its Buchans Project in Newfoundland. The project includes the former Buchans mine, which produced approximately 16.2 million tonnes of high-grade ore over 60 years, and the undeveloped Lundberg deposit with an Indicated Mineral Resource of 16.79Mt. The drilling program aims to:
1. Expand the Lundberg open pit resource
2. Investigate high-grade mineralization near Lundberg
3. Test new targets at Two Level and Pumphouse for high-grade massive sulphides
The Buchans Project is strategically located with access to infrastructure and is 50 km north of Calibre Mining's Valentine Gold Mine. Canterra's CEO, Chris Pennimpede, expressed excitement about advancing Lundberg toward development under favorable critical mineral market conditions.
Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) has expanded its land position along the Valentine Lake Shear Zone (VLSZ) in Newfoundland. The company has staked an additional 3.6 km segment of the VLSZ, bringing its total coverage to approximately 60 km of strike along the gold-bearing structural corridor. This expansion is strategically significant as it's located less than 18 km northeast of Calibre Mining's Valentine gold mine, currently under construction.
The new claims comprise 47 claims covering 11.75 km² and are contiguous to Canterra's existing property. Previous drilling in the area has yielded promising results, including intercepts of 10.0 g/t Au over 5.35 m and 0.57 g/t Au over 42.0 m. The expanded land position strengthens Canterra's presence in an emerging gold mining district that has attracted major players like Calibre Mining, B2Gold, and Eldorado Gold.
