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Canterra Minerals Corporation

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Canterra Reports 68.0m of 1.0% CuEq at Buchans Project

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Announcement Summary

Canterra Minerals Corporation (TSXV:CTM) (OTCQB:CTMCF) (FSE:DXZB) announced additional Buchans Project drilling results on June 3, 2025.

  • Drillhole H-25-3537 returned 68.0m of 1.0% CuEq from surface, including 0.50% Cu, 1.00 % Zn, 0.43% Pb, 3.5 g/t Ag and 0.06 g/t Au.
  • The interval included 11.0m of 2.14% CuEq from surface, with 0.63% Cu, 3.22% Zn, 1.62% Pb, 6.9 g/t Ag and 0.14 g/t Au.
  • The results are from Canterra's ongoing 10,000m program at its 100% owned Buchans Project in the Central Newfoundland Mining District.
  • The company said the results are expected to expand the current open pit mineral resource and demonstrate continuity of the Lundberg deposit.
  • CuEq was based on April 11, 2025 metal prices of US$4.06/lb Cu, US$1.19/lb Zn, US$0.85/lb Pb, US$32.23/oz Ag and US$3,236.00/oz Au.
  • The company said additional results, including the Pumphouse Target, will be released as assays are received and compiled.

The resource statement says mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues, and that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The project covers 95 km2.

Investor FAQs

Canterra Minerals reported 68.0m of 1.0% CuEq from surface in drillhole H-25-3537, including 11.0m of 2.14% CuEq from surface. The reported 68.0m included 0.50% Cu, 1.00 % Zn, 0.43% Pb, 3.5 g/t Ag and 0.06 g/t Au, while the 11.0m interval included 0.63% Cu, 3.22% Zn, 1.62% Pb, 6.9 g/t Ag and 0.14 g/t Au.
The company said its ongoing drill programme covers 10,000 m. It stated that additional drilling results, including results from the Pumphouse Target, will be released as assays are received and compiled.
The release describes broad intersections of stockwork semi-massive sulphide mineralisation as expected to expand the current open pit mineral resource. It also describes the Lundberg deposit as an open pit resource on a brownfields site with infrastructure. The Buchans Project covers 95 km2 and includes the past-producing Buchans Mine and the undeveloped Lundberg open pit resource.
The Lundberg Mineral Resource Estimate has an effective date of February 28, 2019 and was prepared under the CIM Definition Standards for Mineral Resources and Mineral Reserves (MRMR) (2014) and CIM MRMR Best Practice Guidelines (2019). The release states that mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues. It also states that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability, and that mineral resource tonnages have been rounded to the nearest 10,000, with totals potentially varying due to rounding.
The release states that Copper Equivalents (CuEq%) are based on metal prices as of April 11, 2025: Cu - US$4.06/lb, Zn - US$1.19/lb, Pb - US$0.85/lb, Ag - US$32.23/oz and Au - US$3,236.00/oz. It states that copper equivalents are based on total contained copper, zinc, lead, silver and gold, with metal recoveries assumed to be 100% (Rec.).
The release identifies Canterra Minerals Corporation as listed on TSXV:CTM, OTCQB: CTMCF and FSE:DXZB.
The release identifies risks associated with possible accidents and mineral exploration operations, unanticipated geological factors, securing permitting and other governmental clearances, raising sufficient funds to carry out business plans, and political uncertainties or regulatory or legal changes. It states that forward-looking statements are subject to actual results and future events differing materially from those anticipated, and that readers should not place undue reliance on them. The source does not provide a quantified assessment of the likelihood or financial impact of these risks.

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