- Canterra Minerals (CTM) has raised $3.9 million in a recent financing effort connected to its planned acquisition of the Wilding Lake Gold Project
- Alongside the private placement, the company also acquired Teton Opportunities, through a share exchange agreement
- In acquiring the new company, Canterra can now pursue the Wilding Lake Gold Project in British Columbia, which Teton currently holds an option for
- Looking forward, the company has planned a $2.75 million exploration program for the property, which is scheduled to commence next year
- Canterra Minerals is holding steady at 15 cents per share
Canterra Minerals (CTM) has raised $3.9 million in a recent financing effort connected to its planned acquisition of the Wilding Lake Gold Project.
Alongside the private placement, the company also acquired Teton Opportunities, through a share exchange agreement. In acquiring the new company, Canterra can now pursue the Wilding Lake Gold Project, which Teton holds an option for with a subsidiary of Altius Minerals.
Freshly appointed CEO of Canterra Chris Pennimpede was eager to welcome new shareholders who participated in the financing and thank existing holders who increased their ownership.
“Canterra is fortunate to a group of long-term shareholders who believe in the potential in our gold exploration strategy in Newfoundland. We are currently planning for a Q1 2021 start for follow-up and discovery drilling at our Wilding Lake gold project,” he said.
Looking forward, the company has planned a $2.75 million exploration program for the property, which is scheduled to commence next year.
The company also recently begun to work through historical data and physical samples that were not previously submitted for analysis, to develop a better picture of the site’s overall mineral map.
Previous exploration at the property have highlighted five gold mineralisation zones, in a 30-hole drill program, which hit 40.85 grams per tonne of gold over 0.5 metres and 10.01 grams per tonne of gold over 5.3 metres.
Canterra Minerals is holding steady at 15 cents per share.