Copper-Zinc Resource Growth in Newfoundland, But Is is Big Enough? | Canterra Minerals CEO Interview

Antonio (0:00)

This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, VMS, and now maybe even exploration in Newfoundland, together with Canterra Minerals. But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, resourcetalks.com for a free weekly newsletter. Now, although this company has paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general and impersonal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on Sitterplus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on. Now, this is not Canterra's first time on the CEO BBQ. If it is your first time hearing about the company, I'm going to post a link to the Canterra playlist. I believe there's three interviews in there. The first one of which you definitely want to watch, that's where you had the basic smell test, the basic grilling and all that. The other one actually went to Chris's office and spoke to him there in Vancouver, and then we did an update this summer as well. So please watch those first if you haven't heard about this company before. As we're not going to repeat any of the basics here today, we'll really talk about the resource update that they've had. In a nutshell though, very briefly, Canterra Minerals is focused on their Buckens project in Central Newfoundland. It's a 100 percent owned project, and then they have the Lundberg deposit providing the current resource base, which again will be the focus of the conversation today.

Buckens, so the project's located about 100 kilometers by road from Grand Falls, Windsor and Lundberg is a VMS, so it's a Volcanogenic Massive Sulphide related stock work, Sulphide deposit, which is actually different from the higher grade Massive Sulphide lenses that were historically mined at Buckens. Again, that's something that Chris and I have already talked about in previous episodes, but interesting story. If you want to figure out what they're doing, watch those interviews first. The latest mineral resource estimate here, the update of what we'll talk about today contained 26 million tons in indicated at about 0.87% copper equivalent of which 0.36% copper is actually copper.

The rest is you have zinc is making up a lot of it, lead is making up a lot of it, and there's a little bit of silver and a little bit of gold as well. But then you have just another million tons in inferred and much higher grade, so 1.54% copper equivalent, all of which is pit constrained at a US $20.40 per ton NSR cutoff. Recent drilling here has also tested some of the extension, so the higher grade two zone or two level zone, and it also targets some of the targets along the historic Buckins Mine trend, while also drilling satellite prospects around the district, which I also hope we can talk about later on.

Beyond drilling, the next important step in this process is work toward assessing processing and development options around the expanded resource now, which again, I hope I can ask some things about later on.

Just briefly, I said that already and I lied there because it hasn't been briefed, but for some of the numbers in the details, Canterra is listed as CTM on the TSX-V, where the average three-month volume is about 74,000 units. The stock's 52-week high is 24 cents and a 52-week low is 12 cents. Last time they raised capital was in December of last year, raising close to $6 million, most of which flowed through. An update on where the treasury is, Afro that worked earlier this year, also hopefully later on in the conversation. But for this to actually become a conversation though, I will have to shut up already. And Chris, I'll give you the word here. But first of all, thank you for sitting down with me today.

Christopher Pennimpede (3:52)

Yeah. Thanks, Antonio. Happy to be sitting down with you again. I basically don't have to say anything. You just summarize the entire talking points for me. That's it.

Antonio (4:01)

Interview done. It's going to be the easiest edit ever. Put a bunch of visuals and we're done. No, I'm looking forward to the update here, Chris.