Canter Resources Provides Columbus Lithium-Boron Project Update
Canter Resources Provides Columbus
Lithium-Boron Project Update
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2024) -
Canter Resources Corp. (CSE:
CRC) (OTC Pink: CNRCF) (FSE: 6O1)
("
Canter
" or the "
Company
") is pleased to provide a
progress update for the Company and its Columbus Lithium-Boron Project ("
Columbus
" or the
"
Project
"), located near Tonopah, Nevada. Dating back to late November 2023, Canter has made
substantial progress, achieving numerous important milestones that have significantly de-risked and
enhanced the Company's flagship Project as the Company prepares for further drilling.
"At our flagship Columbus Lithium-Boron Project, we are targeting the same multi-commodity (lithium
and boron) mix as Ioneer's (~$300M CAD MC) Rhyolite Ridge Project (located 17 miles south), with the
same volcanic source rocks terminating at and feeding the Columbus basin," commented Canter CEO,
Joness Lang. "Our comprehensive modeling and shallow drilling to-date have demonstrated that multi-
commodity potential and reinforced our conviction that a major brine discovery can be delivered in this
unique (hydrologically and structurally closed) basin."
Figure 1:
Columbus Lithium-Boron Project and proximity to Rhyolite Ridge and Silver Peak.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10112/218437_aca66d7f640ab99e_001full.jpg
While Ioneer's feasibility-stage Rhyolite Ridge Project is not a direct analogue given the different deposit
models (sediment-hosted vs brine) and stage of exploration/development, the shared volcanic source
rocks, commodity mix, and proximity do provide context for Canter's vision for value creation with its
ongoing exploration phases at Columbus.
Recap of Recent Milestones
Completed strategic acquisition of Altitude Ventures, to acquire the Columbus Lithium-Boron Brine
Project and Beaver Creek Lithium Project.
Secured CAD $3.5M in financing, including insider, institutional and strategic investor support.
Strengthened corporate and technical teams with a series of management, board and advisor
appointments.
Secured critical water rights and received key permits from the Bureau of Land Management for
the Company's Notice of Intent, and more than 25 borehole permits from the Nevada Division of
Minerals.
Acquired an additional historical geochemical database and completed a reinterpretation of all
geophysical data for an enhanced geological understanding and refined targeting at Columbus.
Created a 3D geological model, incorporating HSAMT data to support brine/aquifer targeting.
Expanded the Columbus Project westward to cover the open-ended HSAMT anomaly, increasing
the Project's footprint in a high priority area.
Sourced gravel from a local BLM community pit, which is stockpiled at site to streamline
exploration and drilling activities for road improvements and drill pad preparations.
Completed Phase I 15-hole drill campaign, the results of which validated the 3D model and
HSAMT anomaly by consistently intersecting shallow aquifers across a significant footprint
showing widespread lithium and boron mineralization with increasing concentrations at depth.
Recap Summary
The Company has established a strong team focused on exploration to continue de-risking and
advancing its flagship Columbus Lithium-Boron Project. Results to-date continue to support the
Company's thesis, targeting significant lithium concentrations deeper in the system, while concurrently
highlighting the exceptional boron grades near-surface and multi-commodity mineral resource potential
in Columbus' shallowest aquifers.
H2/2024 Outlook
The Company has engaged Cascade Drilling LP in preparation for the launch of a Phase II drill program,
which is expected to commence in mid-August. Upcoming catalysts include:
Phase II drilling (expected to begin in mid-August) with an updated drill rig model and tooling to
support testing a third aquifer zone target below the depths of Phase I drilling, while also
demonstrating lateral continuity between previous drill grids and testing additional regional targets
to the north (see press release dated July 2, 2024, for more information).
Phase II brine results (Q3/2024)
Phase II sediment results and multi-element analysis (early Q4/2024)
Updated 3D model and finalized plans for next phase of drilling (early Q4/2024)
Results from reconnaissance surface sampling at the Beaver Creek Lithium Project (H2/2024)
The Company has engaged Applied Hydrologic to complete a NI-43-101 Technical Report for the
Columbus Project (H2/2024)
Potential portfolio additions leveraging the Company's critical metals targeting database
Outlook Summary
The multi-phased and widespread Geoprobe drilling will provide a comprehensive dataset that will allow
the Company to map and profile the shallow aquifers at Columbus. This work is a key step towards
preliminary mineral resource considerations in the upper levels of the target area, particularly for the
substantially anomalous boron values. The mineralization and mobility patterns observed in conjunction
with interpreted structure and will guide subsequent deeper drilling with enhanced precision. In addition
to the Company's exploration work in the field, Canter is engaging with prospective partners ranging
from direct extraction companies, government and educational research centers as well as larger mining
companies with a view towards expanding and accelerating exploration work at Columbus.
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 projects.
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 in Nevada, USA and the Beaver Creek Lithium Property in Montana, 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.
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