Canterra Minerals and Shore Gold Approve 2010 Buffalo Hills Exploration Program
21 Décembre 2009 - 2:30PM
Marketwired
Canterra Minerals Corporation (TSX VENTURE: CTM) ("Canterra") is
pleased to announce that the Buffalo Hills Joint Venture Management
Committee has adopted a $1.1 million Exploration Program for the
Buffalo Hills Project located in Northern Alberta. (See
www.diamondex.net for project location and description).
The field portion of the 2010 program is focused on completing
the delineation drill program that, to date, has resulted in the
completion of 41 drill holes totaling 6,818 metres over three
kimberlite pipes. Evaluation of the drill cores has advanced the
development of three-dimensional geological models for the K6, K14,
and K252 kimberlites. Starting in February 2010, approximately 11
drill holes totaling approximately 1,980 metres will be completed
on the K5 and K91 kimberlites and 4 additional drill holes will
target priority grid locations on the K6 and K14 pipes. Upon
completion of the 2010 field work, it is expected that preliminary
three-dimensional geological models will be completed for the K5,
K6, K14, K91 and K252 pipes. These models will guide the
identification 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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
news release.
Contacts: Canterra Minerals Corporation Randy C. Turner
President 604-687-6644 604-687-1448 (FAX) www.diamondex.net
Canterra Minerals (TSXV:CTM)
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