- Canterra Minerals (CTM) expands its land position by 30.25 square kilometres at Noel-Paul Gold Project in Central Newfoundland
- Canterra has staked three new licenses totalling 121 mineral claims, all of which are contiguous with the existing Noel-Paul licenses
- Reconnaissance scale soil sampling has now been completed across the entire property, excluding the newly acquired licenses announced today
- It plans on completing an IP survey, trenching and additional infill soil sampling at Noel-Paul during the summer of 2022
- Canterra is advancing its 100 per cent owned Wilding and Noel-Paul Gold Projects, as well as its resource stage base metals projects
- Canterra Minerals Corporation (CTM) is down 9.09 per cent, trading at C$0.20 at 1:07 pm ET
Canterra Minerals Corporation (CTM) has increased its land holdings at the Noel-Paul Gold Project in central Newfoundland.
Noel-Paul is an exploration stage project located northeast of the current drill program at the Wilding Gold Project.
Canterra has staked three new licenses totalling 121 mineral claims, which are contiguous with the existing Noel-Paul licenses.
By 2021, Canterra will conduct data acquisition, regional geology and geophysical interpretations, integrating all available data to refine targets for groundwork by Company geologists this summer.
Reconnaissance scale soil sampling has been completed across the entire property, excluding the newly acquired licenses announced today.
The previously announced high-resolution airborne magnetic survey planned for May will complete airborne coverage of the licenses.
It plans on completing an IP survey, trenching and additional infill soil sampling at Noel-Paul during summer 2022, with a goal to have fully developed drill targets for a fall program.
Initial exploration of the newly acquired licenses will involve expanding the soil geochemistry coverage and prospecting surveys.
Noel-Paul covers approximately 40 kilometres of strike along the Rogerson Lake Structural Corridor to the northeast of Wilding.
The area underlies the same geological units that underlie Wilding and Marathon Gold’s Valentine Lake gold project. Previous operators carried out limited reconnaissance soil sampling that identified several gold-in-soil anomalies, none of which received follow-up work.
Canterra’s Noel-Paul licenses cover prospecting by previous operators located at the Jigger Showing, where grab samples taken in 2016 assayed 19.7 grams per tonne Au and 8.4 g/t Au.
In addition to structurally-controlled orogenic-style gold mineralization, Noel-Paul has favourable geology for massive sulphide (Cu-Pb-Zn-Ag-Au) deposits similar to the former Duck Pond Mine operated by Teck Resources from 2007 to 2015.
The former Duck Pond Mine is located 2 km immediately north of Noel-Paul.
Canterra is advancing its 100 percent owned Wilding and Noel-Paul Gold Projects and its resource stage base metals projects, located 50 km south of Millertown and directly northeast of Marathon Gold’s Valentine Lake Gold Project in Central Newfoundland.
The 352 km2 property package includes 50 km 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 TRU Precious Metals’ Golden Rose and Twilight discoveries.
Canterra’s team has more than 100 years of experience searching for gold and diamonds in Canada. It has been involved in the discovery of the Snap Lake diamond mine and the discovery of the Blackwater Gold deposit in British Columbia, Canada.
Canterra Minerals Corporation (CTM) is down 9.09 per cent, trading at C$0.20 at 1:07 pm ET.
