Canterra Minerals samples high-grade copper at Victoria Project, Newfoundland

Canterra Minerals Corp. [TSX-CTM; OTCQB-CTMCF] reported prospecting results from its Victoria Project, located in the central Newfoundland Mining District. The Victoria Project is located approximately 10 km southwest of the community of Millertown, approximately 8 km north of the company’s Bobby’s Pond deposit, and approximately 25 km north of the company’s Lemarchant Project, which recently underwent a diamond drilling exploration campaign.

Highlights: 18.65%c in massive sulphide grab sample from angular float; 6.8% copper in massive sulphide grab sample from outcrop. Prospecting work demonstrates the high-grade copper-rich nature of the mineralization at the Victoria Project.

The Victoria Project is located in the same geological setting as Canterra’s resource-stage Bobby’s Pond and Daniel’s Pond projects. This project will be explored further as part of the summer 2024 exploration program on Canterra’s 7 projects in the Central Newfoundland Mining District

The Victoria Project includes an adit, shafts, and drifts that were mined during the turn of the nineteenth century for massive sulphide mineralization, including high-grade copper mineralization. Commercial production was never declared, and mining was only conducted on a small scale. The Victoria Project was subsequently explored by both Noranda in the 1990s and Celtic Minerals Ltd. between 1999 and 2007. The Project is comprised of two mineral leases within the Tulks volcanic belt that hosts Canterra’s Bobby’s and Daniel’s Pond deposits.

Canterra’s Bobby’s Pond Project is situated approximately 10 km south of the Victoria Project and is host to a historical mineral resource estimate comprised of indicated resources totaling 1.1 million tonnes averaging 0.9% Cu, 4.6% Zn, 0.3% Pb, 0.2 g/t Au, and 16.6 g/t Ag and inferred resources totaling 1.2 million tonnes averaging 1.0% Cu, 3.8% Zn, 2.5% Pb, 0.06 g/t Au, and 11.0 g/t Ag.

Canterra’s Daniel’s Pond Project is situated 10 km south of the Bobby’s Pond Project and is located in the same geological belt. The Daniel’s Pond Project is host to a historical mineral resource estimate totaling 929,000 tonnes averaging 5.1% Zn, 0.3% Cu, 2.5% Pb, 0.6g/t Au, and 101.4 g/t Ag and inferred resources totaling 332,000 tonnes averaging 4.6% Zn, 0.3% Cu, 2.1% Pb, 0.53 g/t Au and 85.9 g/t Ag.⁽²⁾⁽³⁾

Canterra would like to acknowledge the financial support it may receive from the Junior Exploration Assistance Program from the government of Newfoundland and Labrador related to its exploration efforts throughout 2024.

Canterra’s projects include seven mineral deposits located in the central Newfoundland Mining District including the prolific past-producing Buchans mine. The central Newfoundland Mining District includes Teck Resources’ past producing Duck Pond mine that produced copper, zinc, lead, silver and gold and Calibre Mining’s Valentine gold mine development.

Canterra’s gold projects include several exploration-stage projects that cover 60 km of strike of the regional gold-bearing Rogerson Lake structural corridor, which hosts Calibre Mining’s development-stage Valentine Gold Mine. Canterra’s Newfoundland gold projects have been subject to four drilling campaigns, demonstrating many gold occurrences warranting further exploration.

In Alberta, Canada, Canterra also holds a 50% interest and is the operator of the Buffalo Hills diamond project, which is a joint venture with Star Diamond Corporation. The Buffalo Hills diamond project has been subject to considerable exploration expenditures, including a bulk sample, which has identified 38 kimberlites.