Canterra Minerals Returns to Diamond Exploration in the Northwest Territories
09 April 2014 - 2:00PM
Marketwired
Canterra Minerals Returns to Diamond Exploration in the Northwest
Territories
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 9, 2014) -
Canterra Minerals Corporation (TSX-VENTURE:CTM) ("Canterra" or the
"Company") is pleased to announce that it has staked 43 new mineral
claims covering more than 43,000 hectares ("ha") in the southern
portion of the Slave Province, Northwest Territories, as part of
the Company's return to diamond exploration.
Randy Turner, President and CEO states; "Through this staking
initiative, Canterra has increased its land holdings in an area
that continues to deliver significant diamond discoveries. Our team
is focusing its attention on the Southern Slave based on our vast
diamond knowledge, and the systematic study of our large
proprietary dataset accumulated over a period of 15 years. Analysis
of this data with new advances in techniques and technology has
re-ignited our interest in diamond exploration and will be the
Company's focus going forward."
The Slave Province, including the prolific Lac de Gras and
Southern Slave areas, has a proven history of diamond discovery and
development. It is host to three of Canada's four producing diamond
mines, making Canada the world's 3rd largest diamond producer on a
value basis. The recent staking provides three new properties to
the Company's asset portfolio and expands two existing properties
which were maintained by the Company due to their considerable
potential for the discovery of new diamondiferous kimberlite
bodies. Each of these properties host indicator mineral trains
which are composed of numerous G10 garnets, chromites and ilmenites
sourced from within the diamond stability field, and which are
potentially associated with diamond-bearing kimberlite sources.
For additional information and to view maps of the property
portfolio please visit the Company's website:
www.canterraminerals.com.
King Property:
The Company acquired the King Property in 2000. Seven mineral
claims have been staked northeast of the existing mineral leases,
increasing the property size to approximately 13,500 ha. The King
Property is located ~8 kilometres ("km") to the north of and
contiguous to the Snap Lake Diamond Mine owned and operated by De
Beers Canada. The kimberlite body at Snap Lake is a 2.5 metre thick
dyke gently dipping (15 - 20 degrees) to the east-northeast with a
northwesterly strike. The northern extension of the Snap Lake
kimberlite dyke lies at depth within the King Property and has been
defined by previous drilling as well as a seismic survey.
Hilltop Property:
The Company acquired the Hilltop Property in 1999. Five mineral
claims have been staked in addition to the four mineral leases
previously held, increasing the property size to approximately
7,200 ha. A previously identified 7 km long kimberlite indicator
mineral train contains G10 garnets, chromites and ilmenites, as
well as numerous kimberlite fragments. Evaluation of airborne
geophysical data has identified 15 anomalies for future follow up.
The Hilltop Property is strategically located ~30 km southwest of
the Snap Lake Diamond Mine.
Marlin Property:
The Marlin Property comprises 10 mineral claims covering an area
of approximately 10,450 ha and is located ~20 km northwest of the
Gahcho Kue Project, which is being advanced by De Beers Canada and
Mountain Province Diamonds Inc. The Marlin Property was staked
based on the presence of anomalous indicator minerals including G10
garnets and chromites which appear to have been sourced from within
the acquired claim block, as well as seven geophysical anomalies
identified from a previous airborne magnetic and electromagnetic
survey.
Prism Property:
The Prism Property comprises 11 mineral claims covering
approximately 11,500 ha and is located ~35 km south of the Snap
Lake Diamond Mine. The Prism Property hosts two kimberlite
indicator mineral trains that contain G10 garnets, chromites and
picro-ilmenites. Nine geophysical anomalies have been identified
from a previous airborne geophysical survey coincident with these
mineral trains.
Gwen Property:
The Gwen Property comprises 10 mineral claims covering an area
of approximately 10,450 ha and is located ~30 km east and adjacent
to two diamond-bearing kimberlite pipes (CL-25 and CL-174) which
were discovered by Winspear Resources Ltd. in 1994-1995.
The Company continues to evaluate other areas within the
Southern Slave for future land acquisition.
When completed, the Company will be announcing the details of
the exploration programs currently being planned for these
properties.
Walter Melnyk, P. Eng., Vice-President of Exploration for
Canterra is the Qualified Person, as defined by National Instrument
43-101 and has reviewed the technical information in this news
release.
Neither the TSX
Venture Exchange nor its Regulation Service Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Canterra Minerals CorporationRandy TurnerPresident &
CEO604-687-6644rturner@canterraminerals.comCanterra Minerals
CorporationSophie TaylorCorporate
Communications604-687-6644604-687-1448staylor@canterraminerals.comwww.canterraminerals.com
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