Canterra Drilling Underway at Wilding to Test Extensional Veins

Armed with new geological data, Canterra's latest drilling campaign aims to uncover untapped high-grade gold veins along one of Canada's most promising gold corridors. 

Canterra Minerals Corporation has announced the initiation of drilling for new high-grade gold targets at the Company’s Wilding Gold Project. Recent geological insights gained from the company’s summer 2025 program, combined with public data from the adjacent Valentine Mine, which Equinox Gold opened in 2025, have led to the identification of new, highly promising drill targets.

These targets exhibit significant potential for high-grade gold contained within quartz vein systems along the 55 km gold-bearing corridor, which also encompasses the deposits located at the Valentine Mine.

Highlights

• A total of 1200 m of large diameter (HQ) core drilling is scheduled to be conducted across 15 drill holes.
• The drilling aims to investigate stacked extensional quartz-gold-tourmaline-pyrite vein packages situated along the established shear zones, exploring previously undrilled geometries.
• The targets have been identified through fieldwork and prospecting results from the summer of 2025, as well as from newly re-evaluated IP geophysics and historical data.
• Extensional vein targets confirmed to contain the majority of the highest-grade mineralization are interpreted to be aligned parallel to previously drilled holes, indicating a new orientation model.
• Recent optical televiewer work, along with drone orthophotos and new survey-grade vein mapping, has greatly enhanced confidence in the targets.

Over the past four years, Canterra has been systematically consolidating resources and expanding its land position within the central Newfoundland Mining District. New detailed geological understanding, building on our 2021 work and historical gold exploration data at Wilding, has positioned the Project for future work.

Chris Pennimpede, President and CEO, Canterra Minerals Corporation

Chris Pennimpede adds, “Development and stripping of pits at Valentine Mine has provided new geological insights to support target development and advancement of known and new zones at Wilding, which are hosted along the same structural corridor and shares many geological characteristics. With gold markets strengthening, this program provides an opportunity to unlock new high-grade discoveries along one of Atlantic Canada’s most prospective gold corridors.”

Summary of Drill Targets

Elm, alder, and cedar zones: Historical trenching and drilling (Antler Gold, 2016–2017; Canterra, 2021) yielded notable gold grades from shear-hosted veins. Re-interpretation suggests that the greatest gold endowment is found in oblique extensional vein sets that intersect the primary shears.

Geophysical anomalies: Reprocessed IP data reveals resistivity anomalies that align with established quartz veins and delineate several previously unexamined targets that may harbor new vein swarms.

High-precision mapping: A comprehensive structural mapping of extensional vein sets has enhanced the identification of new target geometries for optimal drilling tests.

Drilling orientation: Drill setups will aim southwestward at shallower angles compared to historical drilling to examine stacked high-grade extensional veins similar to those found at Valentine Mine.

Downhole data integration: Post-drilling optical televiewer assessments will confirm vein orientations that will be integrated into 3D structural and vein modeling for subsequent targeting.