Canterra Minerals (CTM.V) certainly isn’t wasting any time as the company has already received all necessary permits for its maiden drill program on the Wilding gold project in Newfoundland. The first drill pad was constructed in the past few weeks, and the company announced yesterday the 2,000 meter winter drill program has started. The drill program will focus on testing the gold targets along the Red Ochre complex which has been traced for a length of about 750 meters and a previous operator has intersected 11 meters of 1.5 g/t gold and 17 meters of 0.98 g/t gold on the Red Ochre Complex, which hosts the widest mineralized intervals that have been encountered on the project to date.
This relatively small winter drill program is just a first step and the data gathered from this round of drilling will likely help Canterra to develop its summer drill program.
As you may remember, although this is Canterra’s first drill campaign on the property, the project has been the subject of drill programs by historical operators We published a Q&A report with CEO Chris Pennimpede back in January and it might be worth another read. You can find the Q&A HERE.
Disclosure: The author has a long position in Canterra Minerals. Please read our disclaimer.