Although Canterra Minerals (CTM.V) is focusing on the Buchans critical minerals district, it is still on the lookout to add value to its other projects as well. When CEO Chris Pennimpede took the reins of the company, it initially was a gold exploration company, focusing on the Wilding gold target. Canterra always maintained that land package although it is clearly shifting to zinc-focused exploration in Newfoundland, and recently staked an additional 3.6 kilometer long segment of the Valentine Lake Shear Zone.
This now expands Canterra’s total land position to cover approximately 60 kilometers of the northeast extension of the structural corridor, making the company a dominant land owner in Newfoundland. It looks like the company would like to capitalize on the renewed interest in the province with B2Gold and Eldorado Gold as new ‘entrants’ in the space while Calibre Mining has reached a 77% construction completion rate at its Valentine Gold Mine.
Canterra will remain focused on the Buchans critical minerals project, where drilling will occur this quarter.
Disclosure: The author has a long position in Canterra Minerals. Canterra is a sponsor of the website. Please read the disclaimer.
