Investor FAQs on Canterra Minerals High-Grade Success at Clementine Prospect

By Mark Sheridan

Sep 24, 2025

4 min read

Canterra Minerals Corp. (TSX-V: CTM) (OTCQB: CTMCF) has provided investors with an update on high-grade success at its Clementine prospect.

Canterra Minerals Corp. (TSX-V: CTM) (OTCQB: CTMCF) has provided investors with an update on high-grade success at its Clementine prospect. Undertaking first-pass drilling at Clementine, it intersected 16 meters of 1.72% CuEq, including higher-grade zones up to 3.15% CuEq over 2 meters at one hole. At the second hole, it returned 2.64% CuEq over 3 meters, including 4.02% CuEq over 1 meter. These results confirm the presence of classic Buchans-style mineralization, only 4km northwest of the Lundberg Deposit and the past-producing Buchans Mine.

Clementine Prospect Initial Highlights Include:

  • 1.72% CuEq over 16m, including 3.15% CuEq over 2m

  • 2.64% CuEq over 3m, including 4.02% CuEq over 1m

  • Confirms high-grade, classic Buchans-style mineralization in an underexplored area

  • Results include gold and silver credits, which are common in Buchan-style mineralization

  • Expands prospectivity south of the prospect where newly generated 3D IP geophysical anomalies identify priority targets for follow-up drilling.

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#FAQs for Retail Investors

About the News

Q: What did Canterra Minerals announce in this press release?
A: Canterra reported its first drill results from the Clementine Prospect in Newfoundland. The company intersected mineralized rock containing copper, gold, silver, and other metals, with some drill holes showing significant thickness and grade.

Q: Where is the Clementine Prospect located?
A: Clementine is part of Canterra’s Buchans Project in central Newfoundland, about 4 km northwest of the historic Buchans Mine, which was once one of the world’s highest-grade base metal mines.

Q: Why is the Buchans area important?
A: The Buchans Mine, active from 1928 to 1984, was renowned for its exceptionally high-grade copper, zinc, lead, silver, and gold ores, ranking among the richest volcanogenic massive sulfide (VMS) deposits worldwide. Canterra’s project covers this area and nearby deposits, making it geologically attractive for exploration.

Understanding the Results

Q: What does “1.72% copper equivalent over 16 metres” mean?
A: This means that in one drill hole, the company found rock that, when averaged, contains metals equal in value to 1.72% copper across a thickness of 16 metres. “Copper equivalent” combines copper, gold, silver, lead, and zinc into a single comparable measure.

Q: How do these results compare to typical mining grades?
A: Grades vary widely depending on the deposit type. High-grade underground mines often work with ore over 1% copper, while open-pit mines may operate at lower grades. The results at Clementine are considered significant for further exploration.

Q: Why are they using “equivalent” numbers instead of just copper?
A: Because the rocks contain several metals, it is industry practice to report results as a copper-equivalent grade. This expresses all the metals in terms of copper, making it easier to compare the combined potential value with other copper projects.

Next Steps and Exploration Process

Q: What happens after these drill results?
A: Canterra is continuing its 10,000-metre drill program, with a second drill rig added to speed up exploration at its Clementine Prospect. The company intends to focus on the southern part of Clementine, where geophysical surveys suggest larger, untested mineralized zones.

Q: What is a 3D IP geophysical survey?
A: It’s a type of underground imaging that measures how well rocks hold and conduct electricity. High “chargeability” often signals the presence of metal sulphides (like copper or zinc). The anomalies at Clementine guide where future drilling may find more mineralization.

Broader Context

Q: Why is copper important right now?
A: Copper is a critical mineral for clean energy, electric vehicles, and global infrastructure. Demand is expected to grow, making new discoveries significant.

Q: Who else has claims near Canterra’s projects?
A: The Buchans Project is near Equinox Gold’s Valentine Gold Mine and Teck’s past-producing Duck Pond Mine, placing Canterra in a mining-friendly district with proven deposits.

Q: What is the significance of the Lundberg Deposit mentioned?
A: Lundberg is an undeveloped deposit near Clementine with a large, near-surface resource that could potentially be mined by open pit methods in the future. Clementine adds exploration upside near that resource.

Investor-Focused Questions

Q: How do these results impact Canterra’s value as a company?
A: Drill results can help demonstrate the exploration potential of a project, but they do not guarantee an economic deposit. Investors should consider these results alongside risks, market conditions, and the company’s ability to finance further exploration.

Q: Is there government support for this exploration?
A: Yes, Canterra may receive funding through Newfoundland and Labrador’s Junior Exploration Assistance Program, which helps reduce costs for exploration companies.

Q: Where can I find more technical details?
A: Full assay tables, drill hole maps, and technical notes are available in the company’s press release and on its website.

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