Canterra Minerals (CTM.V) has released its exploration plans for Buchans for this year. The company recently raised C$4.6M and is thus fully cashed up for a substantial exploration program this year.
As part of its review of the 2024 and historical exploration results, Canterra has now outlined five priority drill targets, shown in the image at the top of this update. The Clementine target towards the west is located approximately 6 kilometers west of the main Lundberg deposit and is a 7 kilometer long target which has a non-compliant resource of 360,000 tonnes at an average grade of 0.3% copper, 7.5% ZnPb and 41 g/t silver. The company’s technical team thinks this mineralization is prospective for larger accumulations of Buchans-style mineralization along strike and down dip. Drilling below 200 meters is very limited and relogging of older drill holes showed the presence of barite casts similar to the Lundberg deposit.
The Lundberg deposit doesn’t need any introduction as it hosts an in-pit indicated resource of 156 million pounds of copper, 566 million pounds of zinc and 237 million ounces silver, so it makes a lot of sense to further explore the immediate vicinity of this deposit.
Towards the northeast of Lundberg, Canterra will also do some work on the Sandfill/Pumphouse targets where the company has reinterpreted old data and decided previous operators may not have drilled deep enough. Historical intervals of 7 meters containing 0.69% copper and 6.73% ZnPb as well as 33.5 g/t silver at Sandfill and 2.74 meters of 2.6 copper, 32.7% ZnPb, 147.4 g/t silver and 3.4 g/t gold definitely indicate the presence of smoke and Canterra would likely want to find the fire.
And finally, the AI-generated Nu target will be further investigated. As previously reported on, this target was reported on in October.
Disclosure: The author has a long position in Canterra Minerals. Canterra is a sponsor of the website. Please read the disclaimer.
