Canterra Minerals Starts Drilling at the Wilding Gold Project, Newfoundland
24 2월 2021 - 10:00PM
Canterra Minerals Corporation (TSXV:CTM)(OTCQB:
CTMCF) (“Canterra” or the “Company”) is pleased to
announce it has commenced its winter drill program at the Wilding
Gold Project (“Wilding”), Central Newfoundland, with one diamond
core rig collaring the first drill hole west of the Red Ochre zone.
Key Points:
- 2021 Winter drill program is
budgeted for 2,000m of drilling
- Drilling will target expansion of
known gold mineralization in several zones, including Red Ochre,
Elm, and Alder
- Initial drilling will focus on
drill testing multiple targets along the 750m long Red Ochre
Complex
- Drilling will also test for gold at
previously untested drill targets
Red Ochre Complex – Historical Drilling
Highlights:
- 1.5 g/t Au over 11.0m in hole
WL17-12
- 0.98 g/t Au over 17.0m in hole
WL17-11
Red Ochre contains the widest intercepts of
disseminated gold mineralization at Wilding, with gold
mineralization hosted in quartz veins within altered and pyritic
feldspar porphyry. Gold Mineralization at Red Ochre is open to the
east and west; drilling in 2021 will focus on expanding the
footprint of mineralization in both of those directions. Individual
grab samples collected from the porphyry assayed up to 24 g/t Au.
Subsequent channel sampling and diamond drilling revealed broad
zones of lower-grade gold mineralization, including 1.51 g/t Au
over 11m (core length) from diamond drill hole WL-17-11.
“We are excited to have the drill now turning on
Canterra’s maiden drill program at the Wilding Gold Project. The
Red Ochre Complex offers a large target area that spans most of the
project providing our team with many opportunities to make further
discoveries. Drilling will focus on expanding the known gold
mineralization but will also feature large step outs to Red
Ochre-like targets within the Complex,” stated Chris
Pennimpede, President & CEO of Canterra. “We look forward
to the first results from winter drilling and planning for an
extensive summer exploration program at Wilding.”
About the Wilding Gold
Project:The Wilding Gold Project is located in Central
Newfoundland, 50km south of Millertown, and directly northeast of
Marathon Gold’s Valentine Lake Gold Project. The Wilding Lake
property is 57km2, encompassing 3 from surface gold discoveries and
several untested targets that are continuous with Marathon Gold’s
deposits and underlain by the same geology and structural
setting.
COVID-19 ProtocolsCanterra is
operating under federally and provincially mandated and recommended
guidelines during the current COVID-19 Alert Level 5 to ensure a
working environment that protects the health and safety of the
staff, contractors and local communities.
About Canterra MineralsCanterra
is earning a 100% interest in the Wilding and Noel Paul Gold
Projects, located 50km south, by logging road, from Millertown and
directly northeast of Marathon Gold’s Valentine Lake Gold Project
in Central Newfoundland. The 236km2 property package includes 50km
of the northeastern strike-extension of the Rogerson Lake
Structural Corridor, which hosts Marathon Gold’s Valentine Lake
deposits, Matador Mining’s Cape Ray deposit, Sokoman’s Moosehead
discovery and Tru Precious Metals’ Golden Rose and Twilight
discoveries. A $2.75 million exploration program is underway,
focusing on drilling and surface exploration on the Wilding Gold
Project. This program will include additional diamond drilling on
the existing zones and follow up trenching and diamond drilling on
numerous targets identified from previous soil geochemistry
sampling. Canterra’s team has more than 100 years of experience
searching for gold and diamonds in Canada and have been involved in
the discovery of two of Canada's four diamond mines, in addition to
the discovery of the Blackwater Gold deposit in British Columbia,
Canada.
ON BEHALF OF THE BOARD OF CANTERRA MINERALS
CORPORATION
Chris PennimpedePresident &
CEO
Additional information about the Company is
available at www.canterraminerals.comFor further information,
please contact: +1 (604) 687-6644Email:
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 InformationThis press release contains
statements that constitute “forward-looking information”
(collectively, “forward-looking statements”) within the meaning of
the applicable Canadian securities legislation. 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 with 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; the business and operations of the Company;
unprecedented market and economic risks associated with current
unprecedented market and economic circumstances due to the COVID-19
pandemic, as well as those risks and uncertainties identified and
reported in the Company's public filings under its respective SEDAR
profile at www.sedar.com. 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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/dc2c0698-7b8c-43d0-81ba-b105fd0f4819
Canterra Minerals (TSXV:CTM)
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