Canterra Minerals (TSXV: CTM; OTCQB: CTMCF) has drilled 14 metres grading 5.39% copper equivalent at its 100%-owned Buchans copper-zinc-lead property in the Central Newfoundland Mining District. The property includes the past-producing Buchans mine and the undeveloped Lundberg open pit resource. Lundberg is one of seven undeveloped critical mineral deposits held by the company withing the district.
Recent Buchans assays expand the known mineralization at depth and laterally. The highlights follow:
- Hole H-24-3533: 1.53% copper equivalent over 105 metres (0.46% copper, 2.05% zinc, 1.00% lead, 5.61 g/t silver, and 0.10 g/t gold), including 5.39% copper equivalent over 14 metres.
- Hole H-24-3532: 2.00% copper equivalent over 78 metres (0.61% copper, 2.93% zinc, 1.35% lead, 4.74 g/t silver, and 0.06 g/t gold), including 2.96% copper equivalent over 22 metres.
“We are thrilled with these results that further confirm the Lundberg deposit as a foundational asset for long-term development of the district. These results also highlight the copper content of this open pit resource located on a brownfield site,” said president and CEO Chris Pennimpede. “Canterra’s goal is to grow its current critical minerals resource base to over 40 million tonnes, and we look forward to expanding our exploration efforts in the near term towards discovery of new high-grade resources comparable to the project’s historical production that established Buchans as one of the world’s highest grade VMS mining districts.”
Previously announced November 2024 Buchans drill results included these highlights:
- Hole H-24-3531: 2.58% copper equivalent over 60.3 metres (0.74% copper, 3.92% zinc, 1.16% lead, 11.5 g/t silver, and 0.16 g/t gold), including 3.71% copper equivalent over 26 metres.
- Hole H-24-3527: 0.97% copper equivalent (0.41% copper, 1.08% zinc, 0.54% lead, 4.41 g/t silver and 0.04 g/t gold.
The Buchans mine operated for 58 years, closing in 1984. During that time, it produced 16.2 million tonnes of ore from five orebodies that averaged 14.51% zinc, 1.33% copper, 7.56% lead, 1.26 g/t silver, and 1.37 g/t gold.
This year, the Lundberg deposit was given an updated NI 43-101 compliant resource of 16.8 million indicated tonnes grading 0.42% copper, 1.53% zinc, 0.64% lead, 5.69 g/t silver, and 0.07 g/t gold. The inferred resource was 380,000 tonnes at 0.36% copper, 2.03% zinc, 1.01% lead, 22.35 g/t silver, and 0.31 g/t gold.
More information is available at www.CanterraMinerals.com.
