CRITICAL MINERALS ASSET

Lemarchant

A high-grade zinc-copper deposit in central Newfoundland, in the same volcanic belt as the former Duck Pond mine. Canterra holds a drilled-out polymetallic deposit that remains open along strike and at depth, with multiple untested targets nearby.

100

OWNED

8,325

PROJECT AREA

50,000

DRILLED IN 165+ HOLES

12.40

ZINC-EQUIVALENT HISTORICAL INDICATED GRADE

2.42

HISTORICAL INDICATED RESOURCE (2018)

TECHNICAL SNAPSHOT

Key project facts

OWNERSHIP

100%-owned

DEPOSIT TYPE

Zinc-copper massive sulphide deposit with two defined zones

COMMODITIES

Zinc, copper, lead, silver, gold and barite

INFRASTRUCTURE

Road access from the former Duck Pond mine and its power corridor

CURRENT FOCUS

Expanding the deposit and drill-testing new massive sulphide targets

STAGE

Resource-stage exploration with a historical mineral resource estimate

THE OPPORTUNITY

The Case for Lemarchant

Already defined deposit

Lemarchant has been drilled with more than 165 holes totaling over 50,000 metres. The deposit is defined to about 210 metres depth, hosts a historical 2018 resource estimate, and remains open along strike and at depth.

Five metals in one system

The deposit carries zinc, copper, lead, silver and gold together. Canterra's first drill hole into the deposit in 2024 returned 28 metres grading 5.42% zinc, 0.48% copper, 1.33% lead, 67.9 g/t silver and 1.19 g/t gold.

Proven mining district

Lemarchant sits in the Tally Pond volcanic belt, the same belt that hosted Teck's Duck Pond copper-zinc mine about 20 km to the northeast. Duck Pond operated until 2015 and was connected to the Newfoundland Hydro grid.

GEOLOGY & MINERALIZATION

High-grade district

Lemarchant lies within the Tally Pond volcanic belt, a roughly 50 km long corridor of ancient volcanic rocks that hosts several zinc-copper deposits, including the former Duck Pond mine.

Exceptional grades

Historic drilling returned intervals such as 20.55 metres at 12.8% zinc, 1.2% copper and 69.1 g/t silver, and 4.7 metres at 27.5% zinc and 181 g/t silver. Silver and gold add value throughout the deposit.

Two styles of mineralization

Layers of massive sulphide, up to 30 metres thick, occur in two zones: a Main Zone from about 120 to 210 metres depth and a deeper Northwest Zone. Below these layers, a copper-rich network of sulphide veins points to the system's feeder zone.

Modern Exploration

Canterra ran ground geophysical surveys in 2022 and 2023 that measure how rocks conduct electricity, a proven way to detect buried sulphides. The work identified multiple high-priority drill targets around the deposit.

RESOURCE / MINERALIZATION INVENTORY

HISTORICAL RESOURCE

2018 NI 43-101 mineral resource estimate at a 4.0% zinc-equivalent cut-off.

Historical Lemarchant Resource

TONNAGE
(Mt)

CLASS

Zinc
(%)

Lead
(%)

Copper
(%)

Silver
(g/t)

Gold
(g/t)

2.42

INDICATED

6.15

1.60

0.68

64.04

1.22

0.56

INFERRED

4.68

1.08

0.45

44.67

1.06

LEMARCHANT EXPANSION

Current Program & Drilling

Canterra completed its first drill program at Lemarchant in early 2024, totaling 1,814 metres in seven holes. The program confirmed high-grade mineralization at the deposit and found a new copper-rich zone nearby. Several priority targets identified by geophysics remain untested and are the focus of follow-up work.

Confirming the deposit

Hole LM-24-164 cut 28 metres of polymetallic mineralization grading 5.42% zinc, 0.48% copper, 1.33% lead, 67.9 g/t silver and 1.19 g/t gold, including 9.5 metres at 10.59% zinc. The result supports future resource modeling.

A new copper zone

Hole LM-24-165 intersected copper-rich sulphide veining west of the deposit, including 0.87 metres at 4.25% copper. Canterra compares this style of mineralization to the nearby Duck Pond deposit.

Untested targets

Targets remain around the deposit, including a possible fault-offset extension of the Main Zone, a northern extension of the Northwest Zone, a deep target about 600 metres south, and shallow zinc soil anomalies that have never been drilled.

Latest project updates

Recent drilling, target development, and district-scale updates from Lemarchant.

April 16, 2024

Exploration

Canterra Minerals intersects 28 m of 1.19 g/t Au, 67.9 g/t Ag, 0.48% Cu, 5.42% Zn, 1.33% Pb, at Lemarchant Project, Newfoundland

Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (“Canterra” or the “Company”) is pleased to announce results from its recently completed winter drilling program at its…

February 29, 2024

Exploration

Canterra Minerals Announces Commencement of Drilling on the Lemarchant Critical Minerals Project, Newfoundland

Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (“Canterra” or the “Company”) is pleased to announce that subsequent to defining new targets on the Company's Lemarchant…

September 21, 2023

Technical

Canterra Minerals Announces Reinstatement of Chris Pennimpede as President and Filing of Updated Lemarchant Technical Report

Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (“Canterra” or the “Company”) is pleased to announce the reinstatement of Chris Pennimpede to the role of President & CEO…

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