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CTM Canterra Minerals Corp

0.05
0.01 (25.00%)
29 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Canterra Minerals Corp TSXV:CTM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.01 25.00% 0.05 0.045 0.05 0.05 0.045 0.045 1,448,997 17:28:35

Canterra Minerals Corporation: Drilling Commences on Buffalo Hills Property

09/02/2010 12:30pm

Marketwired Canada


Canterra Minerals Corporation (TSX VENTURE:CTM) ("Canterra") is pleased to
announce on behalf of the Buffalo Hills Joint Venture that diamond drilling has
commenced on the Buffalo Hills Project located in Northern Alberta (See
www.canterraminerals.com for project location and description).


The field portion of the $1.1 million Exploration Program adopted by the Buffalo
Hills Joint Venture Management Committee for the 2010 program is focused on
completing the delineation drill program, that to date has resulted in the
drilling of 41 holes for 6,818 metres over three kimberlite pipes. Evaluation of
these drill cores has so far resulted in the development of three-dimensional
models for the K6, K14 and K252 kimberlites. Over the next 5 weeks,
approximately 11 drill holes for a total of 2,000 metres will be completed on
the K5 and K91 kimberlites. Four additional tests will target priority grid
locations on the K6 and K14 pipes. The 2010 fieldwork is expected to complete
preliminary three-dimensional models for the K5, K6, K14, K91 and K252 pipes.
These geologic models will guide the selection of "high interest" bodies for
mini-bulk sampling in subsequent field programs.


The Buffalo Hills project is a joint venture with Canterra (28.5%), Shore Gold
Inc. (28.5%), and EnCana Corporation (43%). Canterra is the Operator of the
Buffalo Hills Joint Venture with Canterra and Shore each contributing 50% of the
exploration expenditures.


David Clarke, P.Geol., MSc., Senior Vice President of Exploration for Canterra
is a Qualified Person as defined by National Instrument 43-101 and is
responsible for program design and quality control of exploration undertaken by
Canterra.


CANTERRA MINERALS CORPORATION

Randy C. Turner, President

Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the British Columbia
Securities Act. This includes statements concerning the Company's plans at its
mineral properties, which involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company, or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties
which could cause actual events or results to differ from those reflected in the
forward-looking information, including, without limitation, the ability of the
Company to continue to be able to access the capital markets for the funding
necessary to acquire and maintain exploration properties and to carry out its
desired exploration programs; inability to fund the Company's share of costs
incurred under joint venture agreements to which it is a party, and reduction or
elimination of its joint venture interest as a result; competition within the
minerals industry to acquire properties of merit, and competition from other
companies possessing greater technical and financial resources; difficulties in
executing exploration programs on the Company's proposed schedules and within
its cost estimates, whether due to weather conditions in the areas where it
operates, increasingly stringent environmental regulations and other permitting
restrictions, or other factors related to exploring in the north, such as the
availability of essential supplies and services; factors beyond the capacity of
the Company to anticipate and control, such as the marketability of minerals,
government regulations relating to health, safety and the environment, the scale
and scope of royalties and taxes on production; unusually mild winter conditions
affecting or delaying the opening of the winter roads and resulting difficulties
in transporting materials needed to support various exploration projects and
resulting increased costs of transport by air; the availability of experienced
contractors and professional staff to perform work in a competitive environment
and the resulting adverse impact on costs and performance and other risks and
uncertainties, including those described in each management discussion and
analysis. In addition, forward-looking information is based on various
assumptions including, without limitation, assumptions associated with
exploration results and costs and the availability of materials and skilled
labour. Should one or more of these risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements. Accordingly,
readers are advised not to place undue reliance on forward-looking information.
Except as required under applicable securities legislation, the Company
undertakes no obligation to publicly update or revise forward-looking
information, whether as a result of new information, future events or otherwise.


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