Canterra Minerals Corporation has announced significant new drill results from its 100%-owned Buchans Project, located within the Central Newfoundland Mining District. The company reported an impressive intersection of 7.73% copper equivalent over 4.45 metres, marking a substantial development in its ongoing exploration program.
Expanding High-Grade Mineralization
The latest drilling campaign, consisting of three holes drilled at approximately 50-metre step-outs, has successfully extended the Two Level Zone located outside the existing Lundberg resource. This follows the company's previous success in May 2025, when it intersected 5.97% copper equivalent over 5.35 metres in hole H-25-3539.
According to Chris Pennimpede, President and CEO of Canterra, these results confirm that Buchans has the potential to host a much larger and higher-grade system than previously defined. "Intersecting high-grade copper mineralization with gold mineralization in step-out drilling well outside the existing resource demonstrates both the strength and continuity of mineralization," Pennimpede stated.
Detailed Drill Results Analysis
The drilling program yielded several notable intersections beyond the headline result of 7.73% copper equivalent over 4.45 metres. Additional significant results include:
- 1.85% copper equivalent over 26.0 metres, extending the Lundberg stockwork zone 80 metres beyond the current Lundberg Resource
- At depth, the same hole returned mineralization of 1.72% copper equivalent over 6 metres
- The Two Level Zone mineralized footprint has now expanded to approximately 200 metres by 50 metres
The Buchans Project holds strategic importance due to its location at the site of the world-renowned past-producing Buchans Mine. The property sits approximately 50 kilometres north of Equinox Gold's Valentine Gold Mine and 34 kilometres northwest of Teck's past-producing Duck Pond Mine.
Future Exploration Potential
The company's ongoing program is systematically stepping out to extend mineralization and test new targets across what it describes as one of Canada's highest-grade historic Volcanogenic Massive Sulphide (VMS) camps. Drilling has consistently intersected stockwork sulphide mineralization equivalent to that of the Lundberg Resource, indicating that the stockwork zone remains open and continues to expand at depth toward the northwest.
Pennimpede emphasized the significance of these developments, noting that "with the Two Level Zone expanding and the Lundberg stockwork zone extending, we are seeing clear evidence that Buchans remains one of Canada's most prospective VMS districts." These results strongly support the company's strategy to unlock significant new value through continued drilling and resource growth in what it considers one of the premier mining jurisdictions in Canada.
The latest assays confirm that high-grade mineralization remains open down plunge to the north, suggesting substantial potential for further resource expansion as exploration continues.
