お知らせ • Jul 08
Canterra Minerals Commences Phase 2 Drill Program In Buchans Copper-Zinc District
Canterra Minerals Corporation has commenced its approximately 8,000-metre Phase 2 diamond drill program in the Buchans copper-zinc district of central Newfoundland. The program is designed to demonstrate the scale of Canterra’s consolidated position in one of Canada’s premier VMS camps. The Buchans District, controlled by Canterra, hosts a substantial and growing resource base, multiple satellite deposits, extensive historical data, established infrastructure, and a pipeline of high-priority copper-zinc targets across a historically prolific mining district. Canterra’s 2026 program is focused on advancing the Lundberg deposit as the district’s anchor resource while testing satellite deposits and new targets that the Company believes can support long-term resource growth across the broader Buchans District. The Phase 2 program is expected to generate a steady flow of results through the remainder of 2026. Approximately 8,000 m of diamond drilling has commenced in the Buchans District, including approximately 2,000 m at the Lundberg deposit, the largest copper-zinc resource in the district. Drilling is focused on potential extensions to the Lundberg deposit southwest of recently completed drilling, including 57.15 metres grading 0.57% CuEq, as reported in the Company’s June 3, 2026 news release. The program will also further delineate the high-grade Two Level zone, where previous drilling returned 5.35 metres grading 6.77% CuEq, as reported in the Company’s May 20, 2025 news release. Results from Phase 2 are expected to contribute to Canterra's maiden mineral resource estimate for the Lundberg deposit, targeted for Fourth Quarter 2026, representing a key near-term milestone in establishing the scale of the Buchans District. In addition to drilling at Lundberg, Canterra plans to complete at least 6,000 m of exploration drilling across satellite deposits and high-priority copper-zinc targets including Lemarchant, Boomerang, Long Lake and Tulks. These targets represent multiple opportunities to add tonnes beyond Lundberg and demonstrate broader district-scale growth. Canterra has integrated district-wide historical drilling, geophysical, geochemical and lithogeochemical data with VRIFY’s DORA AI-assisted prospectivity modelling to prioritize new drill targets around its resource-stage VMS deposits and along the same mineralized trend as the former Buchans and Duck Pond mines. Beyond Lundberg, the Buchans District includes several resource-stage VMS deposits within the same mineralized belts that host the former Buchans and Duck Pond mines, including Lemarchant, Boomerang-Domino, Bobby's Pond and Daniels Pond, all 100% owned by Canterra. In 2026, the Company completed a comprehensive district-wide integration of historical drilling, geological, geophysical, geochemical and surface exploration data into a single exploration platform. In collaboration with Hard Rock Geophysics and technical advisors Steve Piercey and Rodney Allen, Canterra combined this dataset with historical lithogeochemical data and VRIFY's DORA AI-assisted prospectivity modelling to identify and prioritize new drill targets around the satellite deposits. This integrated approach provides a systematic framework for targeting new discoveries across the Buchans District. Since September 2025, the Company has received total gross proceeds of $1,129,834.51 from the exercise of common share purchase warrants and stock options. This consists of $961,336.25 from warrant exercises, including exercises by directors, insiders and major shareholders, and $168,498.26 from option exercises by consultants and contractors. This strengthened treasury provides the Company with additional flexibility to execute its exploration and development programs in the Buchans District, Newfoundland. Canterra would like to acknowledge financial support it received from the government of Newfoundland and Labrador’s Junior Exploration Assistance Program related to completion of its 2025 programs and may receive in support of its 2026 exploration programs in the Buchans District. Notes: (1) True widths estimated to be ~80-90% of reported core lengths. (2) Copper Equivalent % = Cu% + ((Pb% × 22.046 × Pb Rec. × Pb price) + (Zn% × 22.046 × Zn Rec. × Zn price) + (Ag g/t ÷ 31.10348 × Ag Rec. × Ag price) + (Au g/t ÷ 31.10348 × Au Rec. × Au price)) ÷ (Cu Price × 22.046 × Cu Rec.). Metal recoveries (Rec.) to concentrate are 90.41% Zn, 91.32% Pb, 91.14% Cu, 32.12% Au and 72.87% Ag, based on “Centralized Milling of Newfoundland Base Metal Deposits – Bench Scale DMS and Flotation Test Program” (Thibault & Associates Inc., 2017). Metal prices used: Cu USD 6.0183/lb, Pb USD 0.8951/lb, Zn USD 1.5403/lb, Ag USD 76.75/oz, Au USD 4,680.90/oz, as of May 6, 2026.