Canterra Minerals' (CTM.V) hole H-26-3563 from its winter drill program at the Buchans project in the Central Newfoundland Mining District, intersected 1.65 meters (m) of 4.34% copper equivalent (CuEq), confirming the presence of a high-grade semi-massive sulphide lens at the Two Level horizon, it said on Wednesday.
The hole also extended Lundberg stockwork mineralization below the existing pit shell, building on the previously reported 86m of 0.91% CuEq announced in February 2026, it said. Hole H-26-3561 returned 57.15m of 0.57% CuEq, including 11m of 1.32% CuEq, successfully infilling a gap in the northeastern Lundberg resource area where mineralization occurs near surface.
The company also reported that hole H-26-3562 intersected 3.05m of 2.14% CuEq, supporting the lateral continuity of copper-rich mineralization across the Lundberg footprint and reinforcing the potential for higher-grade zones within the broader stockwork envelope. Holes H-26-3559 and H-26-3560 returned broad intervals of 44.5m of 0.34% CuEq and 51m of 0.17% CuEq respectively, including 22m of 0.51% CuEq and 12m of 0.49% CuEq.
"With Phase 2 drilling about to begin, our focus now shifts to near-surface extensions of the Lundberg stockwork resource and additional priority targets across our critical minerals portfolio," said Canterra Minerals chief executive Chris Pennimpede. "Combined with ongoing advancement at our Wilding Gold Project along the Valentine Lake gold corridor, Canterra is entering an active period with multiple potential discovery and resource-growth catalysts ahead."
Shares of the company closed unchanged at $0.16 on Tuesday on the TSX Venture Exchange.