Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) added another 3.6 kilometre segment at the Valentine Lake Shear Zone, increasing its land position to over 60 km of strike along the gold-bearing corridor.
The new extension has the same geological characteristics as Calibre Mining Corp‘s (TSX: CXB) (OTCQB: CXBMF) Valentine Gold Mine, which is approximately 18 km southwest of Canterra’s property.
The new claims are also less than 5 km on strike from several of Canterra’s gold-in-bedrock prospects. Previous drilling has yielded intercepts of 10.0 grams per tonne (g/t) Au over a 5.35-metre core length. These also include 49.9 g/t Au over 0.98 m and 0.57 g/t Au over a 42.0 m core length. Furthermore, this additional property comprises 47 claims covering 11.75 square kilometres (1,175 ha) and is contiguous to Canterra’s existing land position.
“There are numerous new mid-tier and major mining company entrants to this 200 km gold bearing structural corridor, with B2Gold Corp. (TSX: BTO) (NYSE: BTG) announcing a USD$3 million dollar strategic investment into AuMega Metals (ASX: AAM), Eldorado Gold (TSX: ELD) (NYSE: EGO) optioning 45 km of the gold-bearing corridor for approximately USD$15 million, and Calibre Mining acquiring the next 32 km segment of the corridor from Marathon Gold less than a year ago for USD$345 million,” said Chris Pennimpede, President and CEO of Canterra.
Pennimpede also said that Canterra is in an advantageous position, owning 60 kilometers of the prolific gold trend that has filled Calibre’s coffers with 5 million ounces of gold and leading to the largest exploration drilling program in the project’s history. This stretch extends northeast and along the strike of Calibre’s discoveries.
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Canterra’s latest claims have identified untested gold-in-soil anomalies
Canterra’s new claims encompass areas where recent exploration has identified several untested gold-in-soil anomalies, including multi-station anomalies up to 200 meters in length, with values reaching 317 ppb Au. Calibre recently announced plans to achieve gold production from its deposits by the second quarter of 2025.
Additionally, Calibre unveiled a 100,000-meter “resource expansion and discovery drill program” within their adjacent property. Calibre’s land position spans approximately 32 km of the same structural corridor and hosts a substantial gold endowment, including 2.7 Moz of Reserves, 3.96 Moz of Measured and Indicated Resources, and 1.10 Moz of Inferred Resources.
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