Canterra Minerals Starts its 5,000m Fall Drill Program at the Wilding Gold Project, Newfoundland
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Canterra Minerals Starts its 5,000m Fall Drill Program at the Wilding Gold Project,
Newfoundland
Vancouver, B.C. (September 28, 2021) – Canterra Minerals Corporation ( TSXV:CTM)(OTCQB: CTMCF) (“Canterra”
or the “Company”) is pleased to announce the start of the 2021 fall drill program at the Wilding Gold Project
(“Wilding”), Central Newfoundland. Wilding is located adjacent to Marathon Gold’s Valentine Lake Project, directly
northeast along the Valentine Lake Shear Zone (“VLSZ”), which hosts the Marathon, Leprechaun and Berry deposits.
Drilling has commenced between the Elm and Alder zones using a single rig and is focused on testing for continuity
between the two vein systems . Results from the summer drill program at W ilding returned a highlight intercept of
10.0 g/t Au over 5.3m at the Elm vein (see November 9 , 2020 news release) and 11.1 g/t Au over 0.5m at the Alder
vein (see November 9 , 2020 news release).
Key Points:
• 5,000m of drilling is planned
• Drilling will target expansion of known gold mineralization in several zones, including Red Ochre, Elm, Alder
and new discovery Dogberry
• Several new targets generated from the summer exploration program along the VLSZ will be tested (see
September 15, 2021 news release)
Figure 1 – Planned locations of drill holes for the fall 2021 drill program
“We are excited to have the drill now turning on Canterra’s fall drill program at the Wilding Gold Project. The
Valentine Lake Shear Zone, Red Ochre Complex and new discovery, Dogberry, offers our team many opportunities to
make further discoveries. Drilli ng will focus on testing the VLSZ, hunting for that Marathon -style equivalent on our
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side of the shear zone and expanding the known gold mineralization at the existing zones.” Stated Chris Pennimpede,
President & CEO of Canterra, “We look forward to the first tests of the VSLZ and continuing to make new discoveries
at Wilding.”
VLSZ Targets:
Recent targeting work based on interpretation of airborne geophysics and gold -in-till anomalies suggest that the
continuation of the VLSZ occurs towards the northern edge of Wilding. The VLSZ controls the development of gold
mineralization at the adjacent Valentine Lake Projec t, where gold occurs in quartz -tourmaline-pyrite veins within
granitoid rocks intruded by mafic dykes. The area north of Wilding is underlain by thick till and has not yet been
tested with drilling or trenching, but till deposits show numerous boulders of granitoid rocks, mafic rocks and quartz-
tourmaline veins. Drilling is aimed at defining the VLSZ and associated mineralization.
Alder/Elm Zones:
The Alder and Elm zones represent early discoveries at Wilding between 2015 and 2017, where gold is host ed in
northeast-striking quartz veins. The area between these two zones has not yet been tested, and the current drill
program aims to test continuity between the zones , as well as testing for shallow-dipping veins related to the main
vein system.
Dogberry Showing:
The Dogberry showing is a more recent discovery of a NE -striking quartz vein, that has been drilled with two holes,
one of which returned 11.05 g/t Au over 0.3m (see May 27, 2021 news release ). The fall drill program aims to further
test this area.
Red Ochre Complex:
Red Ochre contains the widest intercepts of disseminated gold mineralization drilled to date at Wilding, with gold
mineralization hosted in quartz vein s within a feldspar porphyry unit that displays potassic alteration and
disseminated pyrite mineralization . Several new targets were generated during the summer 2021 exploration
program that point towards the possible expansion of Red Ochre to the south and southwest. D rilling will focus on
expanding the footprint of mineralization in both of those directions. Individual grab samples collected from the
porphyry returned assays up to 24 .00 g/t Au. Subsequent channel sampling and diamond drilling revealed broad
zones of lower-grade gold mineralization, including 1.51 g/t Au over 11m (core length) from diamond drill hole WL-
17-11.
About the Wilding Gold Project:
The Wilding Gold Project is located in Central Newfoundland, 50km south of Millertown , and directly northeast of
Marathon Gold’s Valentine Lake Gold Project. The Wilding Lake property is 57 km2, encompassing 4 from surface
gold discoveries and several untested targets that are continuous with Marathon Gold’s deposits and underlain by
the same geology and structural setting.
About Canterra Minerals
Canterra is earning a 100% interest in the Wilding and Noel Paul Gold Projects, located 50km south, by logging road,
from Millertown and directly northeast of Marathon Gold’s Valentine Lake Gold Project in Central Newfoundland .
The 285km2 property package includes 50km of the northeastern strike-extension of the Rogerson Lake Structural
Corridor, which hosts Marathon Gold’s Valentine Lake deposits, Matador Mining’s Cape Ray deposit, Sokoman’s
Moosehead discovery and T RU Precious Metals’ Golden Rose and Twilight discoveries . A $2.75 million exploration
program is underway, focusing on drilling and surface exploration on the Wilding Gold Project. This program will
include additional diamond drilling on the existing zones and follow up trenching and diamond drilling on numerous
targets identified from previous soil geochemistry sampling. Canterra’s team has more than 100 years of experience
searching for gold and diamonds in Canada and have been involved in the discovery of the Snap Lake diamond mine,
in addition to the discovery of the Blackwater Gold deposit in B ritish Columbia, Canada.
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The scientific and technical content and interpretations contained in this news release have been reviewed, verified
and approved by Dr. Luke Longridge , Canterra’s Vice President of Exploration , PhD, P.Geo., a Qualified Person as
defined by NI 43-101.
ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION
Chris Pennimpede
President & CEO
Additional information about the Company is available at www.canterraminerals.com
For further information, please contact: +1 (604) 687-1448
Email: [email protected]
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Exchange) accepts responsibility for the adequacy or accuracy of this release.
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