VANCOUVER, British Columbia – Canterra Minerals Corporation has released promising drill results from its 2025 exploration program at the Buchans Project in Newfoundland's Central Mining District. The findings extend mineralization at the Lundberg Deposit and validate new deep-seeking 3DIP targets, marking a significant step forward for the company's resource expansion efforts.
Lundberg Deposit Extension Confirms Depth Potential
The 2025 drill program has successfully extended the Lundberg Deposit, with hole H-25-3542 returning 86.0 meters grading 0.91% copper equivalent. This extends the known mineralization 75-100 meters below previously defined resource limits, confirming depth continuity within one of the world's highest-grade historic Volcanogenic Massive Sulphide camps.
High-Grade Intervals Within Broad Mineralization
Within the extended Lundberg broad stockwork, several high-grade sub-intervals were identified:
- 6.0 meters at 3.43% copper equivalent
- 22.0 meters at 1.21% copper equivalent
The upper portion of the same hole intersected 4.45 meters grading 7.73% copper equivalent, reinforcing the strength of mineralization within stacked horizons. This two-level horizon confirmation demonstrates the robust nature of the deposit's geological structure.
Lateral Continuity and Step-Out Success
Step-out drilling has demonstrated excellent lateral continuity of the mineralization system. Hole H-25-3553, drilled 50 meters north of the main extension hole, intersected 7.0 meters of stockwork grading 0.47% copper equivalent, confirming continuation of the system down dip.
At the Clementine extension, a 50-meter step-out hole (H-25-3552) intersected 3.45 meters grading 1.09% copper equivalent, supporting down-plunge continuity of the mineralization. These results provide clear vectors for follow-up drilling and resource expansion.
Priority Targets and Strategic Expansion
Drilling north of the Sandfill prospect has intersected mineralization associated with a 1.5-kilometer-long 3DIP chargeability anomaly that remains largely untested. This represents a priority target for the 2026 exploration program.
Following identification of potential Buchans mine trend stratigraphy, Canterra has strategically expanded its land position by staking an additional 13.5 square kilometers (1,350 hectares). This expansion brings the total project area to 106 square kilometers and opens a new southwest structural trend for follow-up drilling.
2026 Winter Drill Program Underway
A significant 2026 winter drill program has commenced to test high-conviction targets across the property. The fully funded program will focus on step-out and discovery drilling designed to generate successive catalysts throughout the year.
Chris Pennimpede, President and CEO of Canterra, commented on the results: "The extension of Lundberg confirms that mineralization remains open at depth within this world-renowned, high-grade mining camp. Importantly, these results validate our 3DIP targeting approach and provide clear vectors for follow-up drilling."
Pennimpede added: "With our fully funded 2026 program underway, we are prioritizing capital toward high-conviction targets that can meaningfully expand resources or lead to new discoveries, all while maintaining a disciplined approach to exploration spending."
Technical Details and Assay Highlights
The copper equivalent percentages are calculated based on metal prices from September 16, 2025. The new assays from the recent extension of H-25-3542 cover the interval of 256.0 to 272.0 meters. Additional step-out holes include H-25-3554 (50 meters west of H-25-3542) and H-25-3555 (130 meters northwest of historical drill hole H-2926 at Sandfill).
The results confirm that the Buchans Project continues to demonstrate significant exploration potential, with multiple targets showing promise for resource expansion and new discoveries in one of Canada's most historically productive mining districts.
