Canterra Minerals Corporation: Drilling Completed on Buffalo Hills Property
26 March 2010 - 4:57AM
Marketwired
Canterra Minerals Corporation (TSX VENTURE: CTM) ("Canterra") is
pleased to announce on behalf of the Buffalo Hills Joint Venture
that diamond drilling has been completed on the Buffalo Hills
Project located in Northern Alberta. (See www.canterraminerals.com
for project location and description.)
The field portion of the $1.1 million Exploration Program
adopted by the Buffalo Hills Joint Venture Management Committee for
the 2010 program was focused on completing the delineation drill
program, which to date has resulted in the completion of 54 drill
holes comprising 8,328 metres in five kimberlite pipes. Between
February 1st and March 6th, 13 drill holes for an aggregate of
1,510 metres were completed on the K5, K6 and K91 kimberlites. All
recovered drill cores have been transferred to Shore Gold Inc.'s
("Shore") core logging facility in Saskatoon, Saskatchewan, where
they will be subject to quantitative and qualitative geological
analysis. This work is expected to lead to the development of
preliminary three-dimensional models for the K5, K6 and K91
kimberlites which can then be compared to existing models for the
K14 and K252 kimberlites, which were developed in 2008. These
geological models will guide the selection of "high interest"
bodies for mini-bulk sampling in subsequent field programs.
The Buffalo Hills project is a joint venture with Canterra
(28.5%), Shore Gold Inc. (28.5%), and EnCana Corporation (43%).
Canterra is the Operator of the Buffalo Hills Joint Venture with
Canterra and Shore each contributing 50% of the exploration
expenditures.
David Clarke, P.Geol., MSc., Senior Vice President of
Exploration for Canterra is a Qualified Person as defined by
National Instrument 43-101 and is responsible for program design
and quality control of exploration undertaken by Canterra.
CANTERRA MINERALS CORPORATION
Randy C. Turner, President
Certain of the statements made and information contained herein
is "forward-looking information" within the meaning of the British
Columbia Securities Act. This includes statements concerning the
Company's plans at its mineral properties, which involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking information. Forward-looking information is subject
to a variety of risks and uncertainties which could cause actual
events or results to differ from those reflected in the
forward-looking information, including, without limitation, the
ability of the Company to continue to be able to access the capital
markets for the funding necessary to acquire and maintain
exploration properties and to carry out its desired exploration
programs; inability to fund the Company's share of costs incurred
under joint venture agreements to which it is a party, and
reduction or elimination of its joint venture interest as a result;
competition within the minerals industry to acquire properties of
merit, and competition from other companies possessing greater
technical and financial resources; difficulties in executing
exploration programs on the Company's proposed schedules and within
its cost estimates, whether due to weather conditions in the areas
where it operates, increasingly stringent environmental regulations
and other permitting restrictions, or other factors related to
exploring in the north, such as the availability of essential
supplies and services; factors beyond the capacity of the Company
to anticipate and control, such as the marketability of minerals,
government regulations relating to health, safety and the
environment, the scale and scope of royalties and taxes on
production; unusually mild winter conditions affecting or delaying
the opening of the winter roads and resulting difficulties in
transporting materials needed to support various exploration
projects and resulting increased costs of transport by air; the
availability of experienced contractors and professional staff to
perform work in a competitive environment and the resulting adverse
impact on costs and performance and other risks and uncertainties,
including those described in each management discussion and
analysis.
In addition, forward-looking information is based on various
assumptions including, without limitation, assumptions associated
with exploration results and costs and the availability of
materials and skilled labour. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
in forward-looking statements. Accordingly, readers are advised not
to place undue reliance on forward-looking information. Except as
required under applicable securities legislation, the Company
undertakes no obligation to publicly update or revise
forward-looking information, whether as a result of new
information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
news release.
Contacts: Canterra Minerals Corporation Randy Turner
604-687-6644 604-687-1448 (FAX) www.canterraminerals.com
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