Canterra Minerals (CTM.V) has released the assay results from three holes focusing on stepping out 50 meters at a time from hole H-25-3539, which intersected 5.35 meters of 5.97% copper-equivalent (the results of that hole were published in May). The table below shows the assay results from holes 3540-3542 with the holes being 50 meter step outs towards respectively the north, east and west of hole 3539.
The headline result was encountered in hole 3542, which returned 4.45 meters of 7.73% copper-equivalent (including 1.11% copper). The other two holes were interesting as well but the mineralized intervals were narrower or lacking grade. According to CEO Chris Pennimpede, Buchans remains one of the most prospective VMS districts in Canada as the Two Level Zone continues to expand and the Lundberg stockwork zone continues to extend. The recent drill results have now expanded the footprint of the Two Level Zone to 200 meters by 50 meters while the deeper portions of the holes have intersected stockwork sulphide mineralization equivalent to the mineralization that comprises the Lundberg resource. The stockwork zone remains open and continues to expand at depth towards the northwest.
Disclosure: The author has a long position but will likely sell stock to fund a warrant exercise. Canterra Minerals 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.
