Canterra Minerals Starts Drilling at the Wilding Gold Project, Newfoundland

VANCOUVER, British Columbia, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Canterra Minerals Corporation (TSXV:CTM)(OTCQB: CTMCF) (“Canterra” or the “Company”) is pleased to announce it has commenced its winter drill program at the Wilding Gold Project (“Wilding”), Central Newfoundland, with one diamond core rig collaring the first drill hole west of the Red Ochre zone.

Key Points:

• 2021 Winter drill program is budgeted for 2,000m of drilling
• Drilling will target expansion of known gold mineralization in several zones, including Red Ochre, Elm, and Alder
• Initial drilling will focus on drill testing multiple targets along the 750m long Red Ochre Complex
• Drilling will also test for gold at previously untested drill targets

Red Ochre Complex – Historical Drilling Highlights:

• 1.5 g/t Au over 11.0m in hole WL17-12
• 0.98 g/t Au over 17.0m in hole WL17-11

Red Ochre contains the widest intercepts of disseminated gold mineralization at Wilding, with gold mineralization hosted in quartz veins within altered and pyritic feldspar porphyry. Gold Mineralization at Red Ochre is open to the east and west; drilling in 2021 will focus on expanding the footprint of mineralization in both of those directions. Individual grab samples collected from the porphyry assayed up to 24 g/t Au. Subsequent channel sampling and diamond drilling revealed broad zones of lower-grade gold mineralization, including 1.51 g/t Au over 11m (core length) from diamond drill hole WL-17-11.

“We are excited to have the drill now turning on Canterra’s maiden drill program at the Wilding Gold Project. The Red Ochre Complex offers a large target area that spans most of the project providing our team with many opportunities to make further discoveries. Drilling will focus on expanding the known gold mineralization but will also feature large step outs to Red Ochre-like targets within the Complex,” stated Chris Pennimpede, President & CEO of Canterra. “We look forward to the first results from winter drilling and planning for an extensive summer exploration program at Wilding.”

About the Wilding Gold Project:
The Wilding Gold Project is located in Central Newfoundland, 50km south of Millertown, and directly northeast of Marathon Gold’s Valentine Lake Gold Project. The Wilding Lake property is 57km², encompassing 3 from surface gold discoveries and several untested targets that are continuous with Marathon Gold’s deposits and underlain by the same geology and structural setting.