Canterra Acquires New Gold Properties in Ontario
08 March 2011 - 12:00AM
Marketwired
Canterra Minerals Corporation (TSX VENTURE: CTM) (the "Company")
wishes to announce that is has staked 35 unpatented mineral claims,
covering 8,256 hectares, within the Kenora and Thunder Bay Mining
Divisions of Ontario. These claims, located approximately 75 km
southeast of Dryden and 120 km northeast of Fort Frances, create
five (5) new gold prospects for the Company within the Wabigoon
Subprovince of Ontario. The Wabigoon Subprovince is a very
prospective terrain which hosts several million once gold deposits
including the Rainy River, Hammond Reef and the Cameron gold
projects. Visit the Company's website, www.canterraminerals.com for
a property location map.
The Esox, Taylor, Revell River, Chartrand, and Bedivere were
selected for claim staking based on a focused review of available
lake sediment and glacial till geochemical surveys, mapped and
interpreted faults and shear zones and related hydrothermal
alteration and/or significant gold assay values for bedrock
associated with these structures.
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Property Claims Hectares Mining Division
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Taylor 10 2,272 Kenora
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Revell River 3 736 Kenora
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Esox 5 960 Kenora
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Chartrand 9 2,304 Kenora
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Bedivere 8 1,984 Thunder Bay
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Totals 35 8,256
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Taylor Property: Located 100 km northeast of Ft. Frances and 50
km southeast of Dryden, the Property is underlain by metavolcanics
of the western Wabigoon greenstone belt. These claims, which are
located 11 km southeast of the historical high-grade mining
district of Gold Rock, cover a segment of the northeast-trending
Taylor Lake fault as well as an area of strongly anomalous gold and
silver assays from lake sediments reported by the Ontario
Geological Survey (OGS).
Revell River Property: A total of 3 claims adjacent to the
Trans-Canada Highway were staked over localities where weak gold
anomalies were returned from lake sediment samples. These claims
are underlain by metasedimentary and metavolcanic units of the
Wabigoon-Raleigh Lake greenstone belt. Previous work by Hemlo Gold
adjacent to or within the current claim block in the 1990's
identified strong gold in soil anomalies and gold-bearing
quartz-sericite alteration in bedrock. The property is centered 27
km northwest of Ignace and 67 km southeast of Dryden.
Esox Property: These claims are underlain by metavolcanics and
sub-volcanic porphyry units of the western Wabigoon greenstone belt
which were identified as being highly prospective for gold
mineralization by the OGS. Within the bounds of the claim group,
the OGS and the Geological Survey of Canada have identified gold as
well as Pb, Sb, Cu, and Cd (pathfinder) anomalies from both glacial
till and lake sediment samples. The Esox claims are centered
approximately 50 km north of Ft. Frances and 85 km southwest of
Dryden.
Chartrand Property: This claim group is centered on splays off
the Marmion Lake fault that are coincident with gold anomalies from
lake sediments. Some 75 km to the southeast, similarly oriented
splays of the Marmion Lake fault are believed to be structurally
related to Osisko Mining Corp.'s multi-million ounce Hammond Reef
gold deposit. The Chartrand property is located approximately 80 km
northeast of Atikokan and 45 km east of Ignace.
Bedivere Property: These claims protect mainly metavolcanic and
mafic to ultramafic intrusive units of the Lac des Milles Lacs
greenstone belt of the central Wabigoon Subprovince. Within the
Bedivere property, northeast trending splays off the major
terrane-bounding Quetico Fault have similar geometry to the Marmion
Lake fault system and coincide with anomalous Au, Ag, and As values
from lake sediments samples. The claim group covers the Sandy Lake,
Andrews North and Andrews South gold-bearing quartz vein
occurrences reported by earlier workers. The Bedivere property is
located 45 km east of Atikokan and 130 km northwest of Thunder
Bay.
The Company considers all five of the recently staked properties
as highly prospective grassroots projects and as such, proposes to
undertake a comprehensive Phase 1 exploration program during the
current year. Exploration initiatives may include detailed airborne
magnetic and electromagnetic surveys, as well as prospecting
programs that will include systematic soil and rock sampling.
Diamond drill testing will be completed on targets of merit.
CANTERRA MINERALS CORPORATION
David B. Clarke, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Canterra Minerals Corporation David B. Clarke
President & CEO 604-687-6644 604-687-1448 (FAX)
info@canterraminerals.com www.canterraminerals.com
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