Canterra Minerals Drills 1.0 g/t gold over 11.0 metres in Step-Out Drilling at the Wilding Gold Project, Newfoundland
28 April 2021 - 2:00PM
Canterra Minerals Corporation (TSXV:CTM) (OTCQB:
CTMCF) (“Canterra” or the “Company”) is pleased report
results for the first seven drill holes completed during the winter
2021 drill program at the Wilding Gold Project (“Wilding”), in
central Newfoundland. Results are from the Red Ochre Complex (“Red
Ochre”); the westernmost zone of gold mineralization identified at
Wilding to date. Planning is now underway for a large summer
program consisting of surface sampling and drilling up to 5,000m at
Wilding.
Drill Highlights:
-
0.46 g/t Au over 33.8m from a depth of 8.0m in
hole WL-21-33 in the Red Ochre Complex
-
Including: 1.0 g/t Au over 11.0m
-
Expands gold footprint from the 2017 discovery hole by
40m
-
3.8 g/t Au over 0.7m from a depth of 61.8m in hole
WL-21-31
-
170m step-out from 2017 Red Ochre discovery hole
(see February 24, 2021 news
release)
-
0.51 g/t Au over 12.3m from a depth of 49.3m in hole
WL-21-36
-
Including: 8.63 g/t Au over 0.25m
-
0.6 g/t Au over 8.0m from a depth of 89.7m in hole
WL-21-37
-
Drilling extends the strike length of known gold
mineralization to over 700m within Feldspar Porphyry Silurian
Volcanics that host the Red Ochre Complex
-
Gold mineralization is hosted in quartz-pyrite veins
similar to those found at Marathon’s Valentine Lake Project located
7km west of Wilding
-
This first pass drilling will aid in targeting future
drilling within the Red Ochre Complex in combination with extensive
2021 summer work program
The Company completed 2,335m over 16 drill holes
in its first winter drill program. This program focused on stepping
out from the 2017 discovery holes at the Elm Zone and Red Ochre
Complex and drilling a target not previously drilled in Dogberry.
Results are pending for nine drill holes.
“Drilling at the Red Ochre Complex is proving
there is abundant gold mineralization spread out over a large
area,” stated Chris Pennimpede, President & CEO of Canterra.
“We look forward to combining this first pass drilling with the
pending soil sample results and re-interpretation of the
geophysical data to define the source for the broad gold
mineralization intersected to date.”
Red Ochre ComplexRed Ochre
contains the widest intercepts of disseminated gold mineralization
at Wilding, with gold mineralization hosted in quartz veins and
disseminated pyrite within altered feldspar porphyry.
Mineralization is coincident with strong carbonate alteration and
magnetite destruction. Magnetite destructive structures occur as
splays from the main northeast-southwest Valentine Lake Shear Zone
in a similar structural setting that hosts Marathon Gold’s deposits
at the Valentine Lake Project. Reprocessing of the airborne
magnetic data will better define the magnetite destructive features
and will aid in targeting future drilling at Red Ochre. Gold
mineralization at Red Ochre continues to be open to the east, west
and south.
2021 Wilding drill hole results from this
news release:
Drill Hole |
Zone |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
WL-21-31 |
Red Ochre |
61.80 |
62.50 |
0.70 |
3.80 |
|
|
|
|
|
|
WL-21-32 |
Red Ochre |
11.00 |
15.00 |
4.00 |
0.25 |
and |
Red Ochre |
25.00 |
26.00 |
1.00 |
1.02 |
|
|
|
|
|
|
WL-21-33 |
Red Ochre |
8.00 |
41.80 |
33.80 |
0.46 |
including |
|
20.00 |
31.00 |
11.00 |
1.00 |
|
|
|
|
|
|
WL-21-34 |
Red Ochre |
No Significant Results |
|
|
|
|
|
|
WL-21-35 |
Red Ochre |
97.00 |
104.00 |
7.00 |
0.56 |
including |
|
98.15 |
101.00 |
2.85 |
1.09 |
|
|
|
|
|
|
WL-21-36 |
Red Ochre |
49.35 |
61.70 |
12.35 |
0.51 |
including |
|
50.25 |
50.50 |
0.25 |
8.63 |
including |
|
54.40 |
55.45 |
1.05 |
0.98 |
and |
|
102.95 |
103.95 |
1.00 |
1.00 |
|
|
|
|
|
|
WL-21-37 |
Red Ochre |
89.70 |
97.70 |
8.00 |
0.61 |
including |
|
90.70 |
96.70 |
6.00 |
0.73 |
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 the Snap Lake diamond mine, in addition to the
discovery of the Blackwater Gold deposit in British Columbia,
Canada.
The scientific and technical information and
exploration data quality assurance and control contained in this
news release were prepared under the supervision of David Evans,
M.Sc., P.Geo., Manager of Exploration for Canterra. Mr. Evans is a
Qualified Person as defined by National Instrument (“NI”)
43-101.
QA/QCQuality Assurance-Quality
Control (“QA/QC”) protocols followed at the Wilding Lake Project
include the insertion of blanks, standards and duplicates at
regular intervals in each sample batch. Drill core is cut in half
with one half retained at site, the other half tagged and taken by
Canterra personnel to Eastern Analytical Limited in Springdale, NL.
All reported core samples are analyzed for Au by fire assay (30g)
with AA finish. All mineralized intervals are reported as core
lengths with no true thickness implied.
ON BEHALF OF THE BOARD OF CANTERRA MINERALS
CORPORATIONChris
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
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as at the date of this news release. Any statement that discusses
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should change. Factors that could cause future results to differ
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Company’s exploration plans, the risk that the Company will not be
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the risk of political uncertainties and regulatory or legal changes
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the business and operations of the Company; unprecedented market
and economic risks associated with current unprecedented market and
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result of new information, future events, changes in assumptions,
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otherwise.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3ad462c0-df1b-4eb6-84a0-94cb99fe8fb9
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