CRITICAL MINERALS ASSET

Long Lake / Tulks

A cluster of zinc-rich massive sulphide deposits and prospects in central Newfoundland. Canterra holds historical resources at Long Lake and Tulks Hill, three massive sulphide zones at Tulks East, and new gravity targets defined in 2024.

100

OWNED

12.41

ZINC-EQUIVALENT HISTORICAL INDICATED GRADE AT LONG LAKE

12,862

DRILLED AT THE LONG LAKE MAIN ZONE

1,000

OF TESTED STRIKE AT TULKS EAST

GRAVITY SURVEYS COMPLETED IN 2024

TECHNICAL SNAPSHOT

Key project facts

OWNERSHIP

100%-owned

DEPOSIT TYPE

Zinc-lead-copper-silver-gold massive sulphide deposits and prospects

COMMODITIES

Zinc, lead, copper, silver, gold and barite

INFRASTRUCTURE

Truck access by logging and mining roads from Buchans and Millertown, with power, workforce and services in the region

CURRENT FOCUS

Following up 2024 gravity targets at Long Lake and Tulks East

STAGE

Exploration stage with historical mineral resource estimates at Long Lake and Tulks Hill

THE OPPORTUNITY

The Case for Long Lake / Tulks

Three known sulphide systems

The package holds the Long Lake Main Zone deposit, the Tulks Hill deposit, and the three Tulks East zones. Tulks East is one of the largest accumulations of massive sulphides in the Tulks Volcanic Belt.

Proven high grades

Historic drilling at Long Lake returned 7.3 metres grading 16.9% zinc, 2.8% lead, 1.0% copper and 85.3 g/t silver. The 1994 discovery hole cut 2.2 metres at 23.7% zinc just 45 metres below surface.

New targets potential

No drilling has taken place at Long Lake or Tulks East since 2014, under previous operators. Canterra's 2024 gravity surveys generated new drill targets at both, several in areas that have never been tested.

GEOLOGY & MINERALIZATION

High-grade district

The projects sit in the Victoria Lake Supergroup, a Buchans district region that hosts numerous zinc-copper deposits and past-producing mines, including Buchans and Duck Pond. At Long Lake, the prospective volcanic rocks that host the deposit run for roughly 40 km of strike.

Exceptional grades

Long Lake carries strong zinc with real silver and gold credits. Historical indicated grades run 7.82% zinc and 49 g/t silver, and individual drill intervals have exceeded 16% zinc over more than 7 metres.

Folded high-grade sulphide bodies

The Long Lake sulphide bodies are narrow, generally under 6 metres, and rich in zinc and barite. The rocks are tightly folded, which can stack or repeat the mineralized horizon. Those possible repeats are drill targets in their own right.

Modern Exploration

Zinc- and barite-rich sulphides conduct electricity poorly, so older electromagnetic surveys could fly right over them. Canterra switched to gravity and induced polarization, methods that detect dense or chargeable rock, and both lit up new targets.

RESOURCE / MINERALIZATION INVENTORY

HISTORICAL RESOURCE

Long Lake at a 7.0% zinc-equivalent cut-off (2012); Tulks Hill at a 1.1% copper-equivalent cut-off.

Historical Long Lake / Tulks Hill Resources

TONNAGE
(Mt)

CLASS

Zinc
(%)

Lead
(%)

Copper
(%)

Silver
(g/t)

Gold
(g/t)

0.41

INDICATED

7.82

1.58

0.97

49.0

0.57

0.08

INFERRED

5.77

1.24

0.70

34.0

0.48

0.43

INDICATED

4.0

1.6

0.9

35.1

1.20

LONG LAKE / TULKS EXPANSION

Current Program & Drilling

Canterra completed ground gravity surveys at both Long Lake and Tulks East in 2024, then started a review of the full exploration dataset, including sampling of archived drill core. The goal is a ranked set of drill targets across deposits that have sat untouched for a decade.

Gravity targets at Long Lake

The 2024 survey detected a gravity anomaly on the Main Zone horizon and a trend that remains open along strike. Previous operators already extended mineralization with 2014 drilling that was never added to the 2012 resource model.

Extending Tulks East

Gravity data suggests the Tulks East massive sulphide zones may extend several hundred metres to the northwest. The consultants who modelled the data recommended that extension as a priority drill target.

Never tested ground

Long Lake hosts three underexplored occurrences along strike (East/South Limb, Lucky Gnome and West Grid), plus 2022 survey targets with no drilling at all. At Tulks, the Tulks Hill deposit sits surrounded by Canterra's Tulks East property, one combined system to explore.

Latest project updates

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

May 6, 2024

Technical

Canterra Minerals Announces Additional Gravity Targets at the Tulks East Project in Central Newfoundland

Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (“Canterra” or the “Company”) is pleased to announce results from a recently completed ground gravity survey over the Tulks…

April 29, 2024

Technical

Canterra Minerals Announces Gravity Targets, Initiates Review of Property-wide Exploration Data at its Long Lake Project in Central Newfoundland

Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (“Canterra” or the “Company”) is pleased to announce results from a recently completed ground gravity survey over its Long…

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