- Canterra Minerals (CTMCF, Financial) intersects 68 meters of 1.0% copper equivalent mineralization from the surface at the Buchans Project.
- Highlighted drilling includes 11 meters of 2.14% CuEq, enhancing the mineral resource potential at the Lundberg deposit.
- The drilling program aims to expand mineral resources at the strategically located Buchans Project in Newfoundland.
Canterra Minerals Corporation (CTMCF) has announced significant results from its ongoing drilling program at the Buchans Project in Newfoundland. The exploration at the Lundberg deposit has intersected a noteworthy 68 meters of 1.0% copper equivalent (CuEq) mineralization from the surface, including a high-grade zone of 11 meters at 2.14% CuEq.
The results form part of a larger 10,000-meter drilling program aimed at expanding the existing open pit resource at the 100% owned Buchans Project. The project is strategically located 50 kilometers north of Equinox Gold's Valentine Gold Mine, offering excellent infrastructure and brownfield advantages.
The Lundberg deposit currently hosts an indicated resource of 16.79 million tonnes with grades of 0.42% copper, 1.53% zinc, 0.64% lead, 5.69 g/t silver, and 0.07 g/t gold. The Buchans Mine, historically significant for its high zinc and lead grades, produced 16.2 million tonnes at impressive grades including 1.3% copper.
Chris Pennimpede, President and CEO of Canterra, expressed optimism about the project, stating that the drilling results reinforce the potential of Buchans as a compelling undeveloped critical minerals opportunity in Atlantic Canada.
