Canter Completes Railroad Valley Acquisition
Canter Completes Railroad Valley Acquisition
Vancouver, British Columbia--(Newsfile Corp. - October 17, 2024) -
Canter Resources Corp. (CSE:
CRC) (OTC Pink: CNRCF) (FSE: 6O1)
("
Canter
" or the "
Company
") is pleased to report that the
Company's transaction to acquire the Railroad Valley claims ("
RV Project
"), as previously reported (see
Company news release on September 12, 2024), has now closed.
The RV Project claim block is contiguous with ground controlled by the most active critical mineral
explorer in Railroad Valley, 3 Proton Lithium or 3PL (private). Canter has compiled historical data and
plans to complete follow up sampling at the RV Project (164 kilometres from the Company's exploration
base in Tonopah) in Q4/2024.
"We are excited to have expanded our lithium-boron exploration footprint in Nevada with this strategic
acquisition in a highly prospective, yet underexplored area," commented Canter CEO, Joness Lang.
"While our primary focus remains on advancing our flagship Columbus Project, we see value in adding
low-cost, high-potential projects that strengthen our portfolio and align with our long-term growth
strategy."
Railroad Valley presents a geologically favourable environment for lithium-boron exploration due to
several key geological features:
Paleozoic and Tertiary Rock Units
:
The valley is flanked by
Paleozoic limestone and dolomite carbonate rocks
. These rocks are
exposed in the
Pancake Range
to the west and the
Quinn Canyon
and
Grant Ranges
to the
east.
The east side of Railroad Valley is underlain by
Paleozoic rocks
, while the west side is
dominated by
Tertiary volcanic rocks
at depths of up to 4,900 feet. These formations,
particularly the volcanic units, are essential in hosting lithium deposits.
Figure 1:
Showing location of Canter's flagship Columbus and Railroad Valley (RV) lithium-boron
projects in Nevada.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10112/226911_8e06befd9473c855_001full.jpg
Volcanic Calderas
:
A major geologic feature of interest is the
Hot Creek Valley Caldera Complex
, located in the
Pancake Range to the west of Railroad Valley. This complex consists of five individual calderas.
Additionally, three more calderas are present on the southern side of the valley and one on the
northern side.
The presence of these volcanic calderas is considered highly favorable for lithium and boron
exploration, as volcanic activity can lead to the concentration of these elements in the basin
sediments.
Geologic Activity and Basin Characteristics
:
The combination of the valley's
closed-basin structure
, underlying volcanic rocks, and
evaporation processes
creates ideal conditions for the concentration of lithium and boron in the
playa areas and beneath the valley floor.
For more information about boron and lithium, please visit the Company's
Boron 101
and
Lithium 101
pages on the website.
Disclaimer: Mineralization at nearby or adjacent projects is not necessarily indicative of mineralization at
the Company's Columbus Project.
Qualified Person (QP)
The technical information contained in this news release was reviewed and approved by Eric Saderholm
P.Geo, Director and Technical Advisor of Canter Resources, a Qualified Person (QP), as defined under
National Instrument 43- 101 – Standards of Disclosure for Mineral Projects.
About Canter Resources Corp.
Canter Resources Corp. is a junior mineral exploration company advancing the Columbus Lithium-Boron
Project and the Railroad Valley (RV) Lithium-Boron Project in Nevada, USA. The Company is
completing a phased drilling approach at Columbus to test highly prospective brine targets at varying
depths for lithium-boron enrichment and plans to leverage the Company's critical metals targeting
database to generate a portfolio of high-quality projects with the aim of defining mineral resources that
support the technology and domestic clean energy supply chains in North America.
For further information contact:
Joness Lang
Chief Executive Officer
Canter Resources Corp.
Tel: 778.382.1193
For investor inquiries contact:
Kristina Pillon, High Tide Consulting Corp.
Tel: 604.908.1695
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news
release. The Canadian Securities Exchange does not accept responsibility for the adequacy or
accuracy of this news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/226911