- Canterra Minerals (CTM) identifies a new gold target and expands the Red Ochre Complex through soil sample results at the Wilding Gold Project, Newfoundland
- The samples cover Silurian feldspar porphyry rocks which hosts the Red Ochre Complex
- The soils had been collected as infill sampling of previous widely spaced soil sampling to the south and northeast of the Red Ochre
- Airborne magnetic data reveals that the magnetic porphyry forms long linear belts that extend to both the northeast and to the southwest of Red Ochre
- The new soil data also confirms and strengthens previously identified gold-in-soil anomalies identified from the more widely spaced surveys
- Canterra Minerals Corporation (CTM) is down 3.92 per cent and is trading at C$0.25 at 10:51 am ET
Canterra Minerals Corporation (CTM) reports results from 1,463 soil samples collected from the Wilding Gold Project in 2017.
The samples cover Silurian feldspar porphyry rocks which hosts the Red Ochre Complex.
1,463 soil samples were collected in 2017 from the Wilding area and were stored for future analyses.
The soils had been collected as infill sampling of previous widely spaced soil sampling to the south and northeast of the Red Ochre.
Other samples had been collected to the north and northeast and were part of the regional soil program.
Canterra submitted the soils in 2021, which had been securely stored at the Millertown core logging facility, to Eastern Analytical Laboratories in Springdale for assaying.
The infill soils targeted a belt of Silurian volcanic rocks that included the strongly magnetic feldspar porphyry which is host to wide intercepts of disseminated gold mineralization at Red Ochre.
Airborne magnetic data reveals that the magnetic porphyry forms long linear belts that extend to both the northeast and to the southwest of Red Ochre.
Magnetic susceptibility measurements of diamond drill core from Red Ochre reveal that gold is associated with zones of intense magnetite destruction within the porphyry.
Higher concentrations of gold-in-soil over the belt of Silurian volcanics correspond to areas where there are clear magnetic breaks or lows.
The new soil data also confirms and strengthens previously identified gold-in-soil anomalies identified from the more widely spaced surveys.
This soil data has identified a minimum of six additional targets for follow up trenching or diamond drilling.
Reprocessing of the airborne magnetic data will better define the magnetite destructive features and will aid in targeting future drilling at Red Ochre.
Gold mineralization at Red Ochre continues to be open to the east, west and south.
“It is great to see the Red Ochre style of gold mineralization expand over a larger area with these soil results,” said Chris Pennimpede, President & CEO of Canterra.
“With the new soil data, together with a clearer understanding of the association between gold mineralization and magnetite destruction in the Red Ochre feldspar porphyry, we now have a minimum of six defined drill targets in the belt of Silurian volcanic rocks for the summer 2021 drilling program,” added Pennimpede.
Canterra is earning a 100 per cent interest in the Wilding and Noel Paul Gold Projects, located 50km south, by logging road, from Millertown and directly northeast of Marathon Gold’s Valentine Lake Gold Project in Central Newfoundland.
Canterra Minerals Corporation (CTM) is down 3.92 per cent and is trading at C$0.25 at 10:51 am ET.
