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Canterra Minerals Corporation

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Canterra Reports Broad Lundberg Copper-Zinc Intercept in Newfoundland Drilling

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Announcement Summary

Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (FSE: DXZB) announced assay results from Phase 2 drilling at the Buchans Project in central Newfoundland.

  • Hole H-26-3568 returned 144.0m of 0.75% CuEq, calculated using stated metal recoveries and prices, from 64.0m, including 76.0m of 1.00% CuEq and 18.0m of 1.56% CuEq.
  • Hole H-26-3564 returned 5.0m of 0.39% CuEq and 12.25m of 0.28% CuEq from 77.0m and 126.0m, respectively.
  • The five completed diamond holes totaled 1,229 metres, while Phase 2 drilling continues across the Buchans copper-zinc district.
  • At Horseshoe, 10.6 km southwest of Lundberg, two holes totaling 575 metres tested an approximately 900-metre conductor and returned no significant values.
  • The company continues to target delivery of an updated Lundberg Mineral Resource Estimate in Q4 2026, using its 2024-2026 drilling.
  • Phase 2 drilling is underway at Lemarchant, with 6,000 m allocated across Buchans exploration; gravity-survey results are expected in Q4 2026.

Separately, effective August 17, 2026, the company engaged IRP Holdings Corporation dba IRPub through December 31, 2026, for US$70,000 paid upon signing; no securities will be issued, and TSX Venture Exchange approval is required.

Investor FAQs

Canterra reported that hole H-26-3568 returned 144.0m of 0.75% CuEq from 64.0m, including 76.0m of 1.00% CuEq and 18.0m of 1.56% CuEq at the top of the interval. The reported interval included 0.26% Cu, 1.32% Zn, 0.73% Pb, 2.6 g/t Ag and 0.04 g/t Au; the higher-grade interval included 0.38% Cu, 3.21% Zn, 1.85% Pb, 5.84 g/t Ag and 0.073 g/t Au.
Canterra reported that hole H-26-3564 returned 5.0m of 0.39% CuEq from 77.0m and 12.25m of 0.28% CuEq from 126.0m, including 9.0m of 0.32% CuEq. The company said the hole filled a near-surface gap and tested continuity of copper mineralisation identified in historical drilling. The release also stated that the reported true widths were estimated to be more than 90% of reported core lengths.
Two holes totalling 575 metres tested an approximately 900-metre strike-length SkyTEM conductor at Horseshoe, approximately 10.6 km southwest of the Lundberg Deposit. Canterra reported no significant values and said no significant sulphide mineralisation was observed. The company attributed the geophysical response to pervasive chlorite alteration and said it was reviewing the results before determining whether additional work was warranted.
Canterra said an updated Mineral Resource Estimate for the Lundberg Deposit remains on track for delivery in Q4 2026. The company stated that this would be the first Lundberg estimate prepared under its direction and the first to incorporate its 2024-2026 drilling. The release also identified a risk that the estimate could be delayed or differ materially from expectations.
Phase 2 drilling is underway at the Lemarchant Deposit as part of the company’s 6,000 m district exploration allocation. Canterra said the programme includes extension and infill drilling around existing mineral resource areas, as well as greenfields targets and underexplored prospects. A gravity survey is underway, with results expected in Q4 2026, and the company said the results are expected to refine targets for current and upcoming drill programmes. These statements are forward-looking and the release states that actual results and future events could differ materially from those anticipated.
Canterra said the assays were uncut and that net smelter returns and payability factors had not been applied. Samples were analysed by Eastern Analytical Ltd., an accredited assay laboratory conforming to ISO/IEC 17025 requirements, with representative pulps also submitted to ALS Geochemistry for additional independent check assays. Paul Moore, MSc., P.Geo. (NL), Canterra’s Vice President of Exploration and a Qualified Person within the meaning of National Instrument 43-101, reviewed and approved the technical disclosure.
The issuer is Canterra Minerals Corporation, identified in the release as (TSXV: CTM), (OTCQB: CTMCF) and (FSE: DXZB). Canterra said it engaged IRP Holdings Corporation dba IRPub effective August 17, 2026, through December 31, 2026, for an aggregate cash fee of US$70,000 paid upon signing; no securities are being issued as compensation and the engagement is subject to TSX Venture Exchange approval. The release also identified risks including accidents and other mineral exploration risks, assay or geophysical results not supporting the company’s interpretations, unanticipated geological factors, permitting and governmental clearances, funding, commodity-price volatility, and political, regulatory or legal changes.

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