Canterra Minerals (CTM.V) has released the assay results from all eight holes it has drilled as part of its winter drill program at Buchans, Newfoundland. This program consisted of just under 2,400 meters of drilling and focused on upgrading and expanding the mineralization at the Lundberg deposit and Two Level zone, while the West Clementine target was also drill-tested.
At the Lundberg deposit, hole H-26-3561 returned 57.15 meters of 0.57% copper-equivalent including a higher-grade zone of 11 meters containing 1.32% copper-equivalent (of which 0.87% was actual copper). Not the grade nor the thickness, but the location of this hole was interesting and important. Not only was this hole drilled in an area where the mineralization starts at just 20 meters from surface, it also served as an important infill drill hole to fill in a gap in the northeastern part of the mineralized area.
Canterra also completed one hole at Two Level, intersecting 1.65 meters containing 4.34% copper-equivalent (with 0.63% copper, and a very strong zinc and lead component with a combined ZnPb grade of 9.54%) and almost 3 ounces of silver per tonne of rock. This hole confirmed the presence of a high-grade semi-massive sulphide lens, while the deeper portion of the hole also extended the Lundberg stockwork mineralization below the existing pit shell with 28 meters of 0.37% copper-equivalent.
The West Clementine drilling didn’t return any good results as two holes that were designed to test the large-scale geophysical anomalies encountered weakly altered and mineralized rocks as well as a fault structure. A third hole was abandoned before it reached the targeted depth but Canterra left the drill casing in place to ensure easy access during the next winter drill program.
In general, the winter drill program was a success as the high-priority areas at Lundberg and the Two Level Horizon successfully intersected more mineralization, giving the technical team plenty to mull over while designing the next phase of exploration at Canterra’s flagship project, while kicking off the Phase 2 drill program. This Phase 2 program will focus on the near-surface extensions of the Lundberg stockwork and a few other priority targets across the portfolio. Meanwhile, the activities at the Wilding gold project will also start to ramp up.
We will catch up with CEO Chris Pennimpede soon.
Disclosure: The author has no position in Canterra Minerals. Canterra is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
