Canterra Minerals Corp. (TSX-V: CTM; OTCQB: CTMCF) has released additional drill results from its Buchans Project in central Newfoundland, reporting deeper mineralization at the Lundberg Deposit and outlining new exploration targets identified through geophysical surveys.
The results are from the company’s 2025 drill program and include an extended hole at Lundberg that intersected 86.0 metres grading 0.91% copper equivalent (CuEq), according to company disclosure. The interval included sub-intervals of 6.0 metres grading 3.43% CuEq and 22.0 metres grading 1.21% CuEq.
The company stated that the hole extends mineralization approximately 75 to 100 metres below previously defined resource limits. Earlier in the same hole, drilling intersected 4.45 metres grading 7.73% CuEq within the Two Level Horizon.
Step-out drilling north and west of the main zone returned narrower intercepts, including 7.0 metres grading 0.47% CuEq and 0.85 metres grading 0.58% CuEq, respectively. According to the company, these results indicate the mineralized system remains open at depth and along strike.
#Exploration Context
The Lundberg Deposit forms part of Canterra’s broader Buchans land package, which now totals approximately 106 square kilometres following the staking of an additional 13.5 square kilometres at the Nu target area.
At the Clementine prospect, a 50-metre step-out hole intersected 3.45 metres grading 1.09% CuEq. Another hole targeting a geophysical anomaly was halted prior to reaching planned depth due to faulting.
Drilling at the Sandfill prospect intersected 1.0 metre grading 0.45% CuEq within a 1.5-kilometre geophysical anomaly identified in earlier surveys. The company has indicated that portions of this anomaly remain untested.
The 2025 campaign comprised approximately 8,600 metres across 18 drill holes.
#Ongoing Winter Program
Canterra has commenced a winter 2026 drill program targeting deeper and lateral extensions of the Lundberg and Two Level zones, along with additional geophysical targets at West Clementine and Sandfill. The Company said it plans to begin early fieldwork on its newly acquired southern claims to see whether the same rock types found at Buchans continue into the area. Further assay results are expected as drilling progresses.
While the reported intercepts extend mineralization beyond previously modeled limits, the company has not indicated whether the new drilling will lead to a formal resource update.
Exploration-stage drilling does not necessarily imply economic viability, and additional work would be required to determine the scale, continuity, and potential recoverability of mineralization.
#Regional Setting
The Buchans Project is located within a historic mining district that has seen prior production. The area is also situated along trend from other mineral projects in central Newfoundland. Proximity to past-producing operations does not guarantee comparable results, but regional geology continues to attract exploration activity.
Copper-equivalent calculations referenced in the results are based on metal prices and recoveries as of September 16, 2025, according to the company.