Canter Resources Commences Phase II Drill Program at Columbus Lithium-Boron Brine Project
Rhea-AI Summary
Canter Resources has begun its Phase II drill program at the Columbus Lithium-Boron Project near Tonopah, Nevada. The program includes up to 10 Geoprobe drill holes, utilizing updated drills and tools to test a third aquifer zone and demonstrate lateral continuity between previous drill grids. The aim is to further explore the multi-commodity mineral resource potential for lithium and boron. Initial brine results are expected in Q3, with sediment and multi-element analysis results in early Q4. This phase will provide data for an updated NI-43-101 Technical Report and a 3D model, aiding in future drilling targets. The outcomes will be shared starting September.
Positive
- Phase II drill program initiation at Columbus Lithium-Boron Project.
- Testing of a third aquifer zone and lateral continuity.
- Initial brine results expected in Q3; sediment results in early Q4.
- Data will contribute to NI-43-101 Technical Report and updated 3D model.
Negative
- None.
News Market Reaction – CNRCF
On the day this news was published, CNRCF declined 3.20%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2024) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company") is pleased to announce that it has commenced a Phase II drill program at its Columbus Lithium-Boron Project ("Columbus" or the "Project"), located near Tonopah, Nevada.
The Phase II program is expected to include up to 10 Geoprobe drill holes and will use an updated drill rig model and tooling with the aim of testing a third aquifer zone below the depths of successful Phase I drilling, while also demonstrating lateral continuity between previous drill grids (5 kilometres apart) and testing additional regional targets to the east and north of previously completed drilling (see Figure 1).
"We are excited to have our second phase of drilling now underway at Columbus, which we expect will further demonstrate the near surface, multi-commodity mineral resource potential at Columbus," commented Canter CEO, Joness Lang. "The comprehensive combined dataset from our first two phases of drilling will allow us to map and profile the shallow aquifer zones at Columbus and provide valuable geochemical data for our 3D model and mineralization pattern analysis for both lithium and boron. We look forward to sharing Phase II drill results beginning in September."
Photo 1: Geoprobe drill arrives to Columbus in preparation for Phase II program
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10112/219865_66977ae4a4b859ce_001full.jpg
Initial Phase II brine results are expected beginning in Q3 with further sediment results and multi-element analysis expected in early Q4.
Figure 1: Plan Map showing Phase I completed and Phase II planned/proposed drill hole locations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10112/219865_66977ae4a4b859ce_002full.jpg
Results from this second phase of drilling will provide additional data for an NI-43-101 Technical Report for Columbus in addition to an updated 3D model - allowing the Company to finalize targets for future phases of drilling - before year-end.
For more information about boron and lithium, please visit the Company's Boron 101 and Lithium 101 pages on the website.
Qualified Person (QP)
The technical information contained in this news release was reviewed and approved by Eric Saderholm P.Geo, Director and Technical Advisor of Canter Resources, a Qualified Person (QP), as defined under National Instrument 43- 101 - Standards of Disclosure for Mineral Projects.
About Canter Resources Corp.
Canter Resources Corp. is a junior mineral exploration company advancing the Columbus Lithium-Boron Project in Nevada, USA and the Beaver Creek Lithium Property in Montana, USA. The Company is completing a phased drilling approach at Columbus to test highly prospective brine targets at varying depths for lithium-boron enrichment and plans to leverage the Company's critical metals targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the technology and domestic clean energy supply chains in North America.
For further information contact:
Joness Lang
Chief Executive Officer
Canter Resources Corp.
Tel: 778.382.1193
jlang@canterresources.com
For investor inquiries contact:
Kristina Pillon, High Tide Consulting Corp.
Tel: 604.908.1695
investors@canterresources.com
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219865
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