Canterra Minerals (CTM.V) has released the assay results of three additional holes that were drilled on its flagship Buchans polymetallic project in Newfoundland. All three holes encountered copper, and as you can see below, there are some very high-grade copper-equivalent results albeit over relatively narrow intervals. Hole H-25-3534 encountered 2.35 meters of 1.17% copper, 11.21% zinc, 5.03% lead and 83.4 g/t silver as well as 0.97 g/t gold for a copper-equivalent value of 6.66%. This includes an even narrower interval of 1.05 meters of 11.48% copper-equivalent.
The other holes encountered 0.26 meters of 6.35% copper-equivalent and 4.20 meters of 4.07% copper-equivalent including an interval of 1.2% containing 12.03% copper-equivalent (which means the residual 3 meters had an average grade of just under 0.9% copper-equivalent).
These three holes were drilled at the Pumphouse target, a target that’s located approximately 800 meters away from the main Lundberg deposit. And that’s what makes these hits quite interesting (albeit the mineralization is relatively narrow – the company mentions the variation in thickness is caused by subsidiary faulting within the area) as the drill bit intersected the classic Buchans-style massive sulphides so we can definitely call these results an exploration success.
This means the company is now kicking off its Phase II drill program, testing high-priority geophysical anomalies identified by a recent 3D IP Survey. Canterra Minerals has highlighted two targets in the bullet points below.
The company has earmarked 8,000 meters of drilling to test the new 3D IP targets across the project in an attempt to find more high-grade mineralization.
Disclosure: The author has a long 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.
