Canterra hits multiple gold intervals at Wilding in central Newfoundland

Canterra Minerals (TSXV: CTM; OTC: CTMCF) has received results of a 4,200-metre diamond drill program completed in December 2021 at its wholly owned Wilding gold project. An additional 4,000-metre campaign has since begun and is still underway. Located in central Newfoundland, the Wilding property is adjacent to Marathon Gold's Valentine Lake project, directly northeast along the Valentine Lake shear zone, which which hosts the Marathon, Leprechaun and Berry deposits.

A total of 19 holes were drilled as part of the 2021 fall program, targeting the expansion of known gold mineralization in several zones, including Red Ochre, Elm, Alder, and new discovery Dogberry. Assays for 17 drill holes have been received.

The new results are highlighted by WL-21-54 at the Red Ochre zone, which intersected 0.5 metre at a grade of 81.52 g/t gold and 4 metres at 1.14 g/t gold. WL-21-53, also at the Red Ochre zone, intersected 42 metres at 0.57 g/t gold, including 15.0 metres at 1.01 g/t and including 4 metres at 2.68 g/t, confirming that broad zones of gold mineralization at Red Ochre now extends over a strike of 770 metres.

At the Alder zone, WL-21-49 interested 12 metres at a grade of 0.71 g/t gold, including 0.6 metre at 3.38 g/t and 1.8 metres at 2.02 g/t. WL-21-48, a 350-metre step-out at the Alder zone, intersected 1.5 metres at 3.03 g/t gold, more than doubling the strike extent at Alder from 200 to 550 metres.

WL-21-59 drilled at the Elm zone intersected 6.5 metres at a grade of 3.63 g/t gold, including 1.2 metres at 18.66 g/t and 1.5 metres at 1.79 g/t.

"These results successfully expanded on previous gold zones identified at Red Ochre and Alder. We are particularly pleased to see longer intervals similar to Marathon Gold, as well as some multi-ounce, high-grade intersections," Cooper Quinn, president of Canterra, commented.

"We are encouraged to see the breadth of mineralization in holes like WL-21-53 at Red Ochre, where stacked mineralization is present over 40 metres with significant higher-grade zones within. The program expanded the strike extent of mineralization at Red Ochre to nearly 800 metres, all within 250 metres of surface. This mineralization remains open in both directions along strike and at depth," he added.

The current drill program is focused on continued expansion of Red Ochre along strike, as well as all new targets on the western portion of the property, closer to Marathon's Valentine Lake deposit.

For more information, visit www.CanterraMinerals.com.