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Canterra Minerals Identifies Five Gold Targets at Wilding Project in Newfoundland

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Announcement Summary

Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (FSE: DXZB) announced new gold targets on its Wilding Gold Project.

  • The company identified five multi-kilometer-scale gold targets on its 100%-owned Wilding Gold Project in Central Newfoundland.
  • The project lies directly along the Valentine Lake Shear Zone, contiguous with Equinox Gold's Valentine Gold Mine; first gold is expected in Q3 2025.
  • Canterra's Wilding Project is interpreted to cover a ~55 km extension of the structural corridor hosting the Valentine Mine deposits.
  • Newly compiled and reprocessed geophysical datasets identified belt-parallel shear structures, cross-structures, favorable host lithologies and structural corridors.
  • The Valentine Mine is described with 4.0 Moz Au total Measured and Indicated mineral resources and 1.1 Moz Au total Inferred resources (2024).
  • The data supports a targeted basal till sampling program to accelerate drill targeting across multiple gold-bearing structures.

Previously released Wilding drilling included separate Elm Zone results: WL-17-24 had a 5.0 m interval at 10.01 g/t Au, while WL-21-59 had 6.5 m at 3.63 g/t Au. Canterra said adjacent Valentine property results are not necessarily indicative of mineralization on its property.

Investor FAQs

Canterra Minerals Corporation has identified five new, district-scale gold targets on its 100%-owned Wilding Gold Project in Central Newfoundland. The targets were defined through newly compiled and reprocessed geophysical datasets and are described as multi-kilometre-scale areas.
The Wilding Gold Project lies along the Valentine Lake Shear Zone and is contiguous with Equinox Gold's Valentine Gold Mine. The source states that Canterra Minerals Corporation trades under TSXV: CTM, OTCQB: CTMCF and FSE: DXZB.
The source says the reprocessed datasets identified previously unrecognised belt-parallel shear structures, cross-structures and favourable host lithologies. It also states that each target demonstrates geological characteristics analogous to those at the Valentine Mine, which is described as having a 4.0 Moz Au M&I and 1.1 Moz Au Inferred resource (2024). The source cautions that results from the adjacent Valentine property are not necessarily indicative of mineralisation on Canterra's property.
The release cites previous high-grade and broad, bulk-tonnage style gold intercepts on the western portion of the Wilding Property. Examples include 5.010 g/t Au over 4.5 m at the Elm Zone, 3.63 g/t Au over 6.5 m at the Elm Zone, 3.03 g/t Au over 1.5 m at the Alder Zone and 1.52 g/t Au over 0.58 m at the Red Ochre Zone. The source says these results demonstrate both high-grade veins and a widespread gold system, but it does not state that the new targets have been drilled.
The newly interpreted data supports a targeted and systematic basal till sampling programme intended to assist drill targeting across multiple gold-bearing structures. The source does not provide a completed drilling result for the five new targets. It states that Canterra's CEO, Chris Pennimpede, believes the company can advance from target generation to potential drill discoveries in a single season; this is a forward-looking statement rather than a reported outcome.
The source states that Canterra's Wilding property boundary lies 20 kilometres from the Valentine Gold Mine's processing facilities and that the Wilding Project has a 55-kilometre strike length. It also says structural corridors hosting the Valentine deposits are interpreted to trend onto the Wilding Project. These interpretations do not establish that the same mineralisation occurs on Canterra's property, and the release expressly states that adjacent-property results are not necessarily indicative.
The source says exploration results and future events could differ materially from forward-looking statements. It identifies risks including accidents and other mineral exploration risks, unanticipated geological factors, the inability to secure permitting and other governmental clearances, insufficient funding to carry out business plans, and political uncertainties or regulatory or legal changes. The source also says there can be no assurances that forward-looking statements will prove accurate and that Canterra may receive financial support from the Junior Exploration Assistance Program in relation to its 2025 exploration programmes; it does not state that this support has been received.

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