Canterra Minerals Extends Lundberg Deposit with 86m of 0.91% CuEq at Buchans Project, Newfoundland
Canterra Validates Deep-Seeking Targets at Buchans as 15,000m Discovery Program Gains Momentum
The most recent news release (February 25, 2026) reports significant drill results from the 2025 program at the Buchans Project in Newfoundland. Key highlights include hole H-25-3542, which returned 86.0 metres grading 0.91% Copper Equivalent (CuEq), including higher-grade sub-intervals of 6.0m at 3.43% CuEq and 22.0m at 1.21% CuEq. These results confirm that mineralization at the Lundberg Deposit extends at depth and remains open. Furthermore, the drilling validated the company’s 3DIP (Induced Polarization) targeting approach, which is being used to identify deep-seated Volcanogenic Massive Sulphide (VMS) targets that were historically untested.
The impact is Material - Positive for several reasons: - Resource Expansion: The 86m intercept at Lundberg is one of the longest continuous mineralized intervals on the project, suggesting the potential for a significantly larger open-pit resource than the 2019 estimate. - Technical Validation: Validating the 3DIP geophysical model is critical. It proves that the "blind" targets identified at depths of 400-800m actually host mineralization, increasing the probability of a major new discovery in the 2026 program. - Continuity: Results from the Clementine prospect (3.45m at 1.09% CuEq) confirm mineralization continues down-plunge, supporting the theory of a district-scale system. - Operational Momentum: This news follows the February 18 announcement of a fully funded 15,000m drill program, indicating the company has the capital to immediately follow up on these "vectors."
Canterra Minerals is a diversified explorer focused on the Central Newfoundland Mining District. - Flagship Project: The Buchans Project, which includes the Lundberg Deposit (Indicated: 16.79Mt @ 1.53% Zn, 0.64% Pb, 0.42% Cu). It is a brownfield site adjacent to the historic ASARCO Buchans Mine, one of the world's highest-grade VMS mines. - Secondary Asset: The Wilding Gold Project, contiguous with Equinox Gold’s Valentine Mine, covering 60km of the Valentine Lake Shear Zone.