benzinga125d ago
VANCOUVER, British Columbia, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Canterra Minerals Corporation (TSXV:CTM) (OTCQB:CTMCF) (FSE: DXZB) ("Canterra" or the "Company") is entering a high-impact discovery phase in 2026 with the launch of a fully funded, up to 15,000-metre diamond drill program across its 100%-owned projects in central Newfoundland. Drilling has commenced at the Company's Buchans Project, one of the world's most prolific past-producing high-grade VMS districts, where modern deep-seeking geophysics has generated multiple untested targets.The 2026 campaign marks a transition from target generation to systematic drill testing across three areas: (i) drill-test high-priority targets at Buchans identified by modern deep-seeking geophysics and integrated geological modelling, (ii) prioritize selective follow-up drilling across Canterra's broader Victoria Lake Supergroup ("VLSG") portfolio, as potential satellite deposits to the Buchans Project; and (iii) advance gold targets at the Wilding Gold Project along the same structural corridor that hosts Equinox Gold's producing Valentine Mine.2026 Program Highlights:Up to 15,000 metres of fully funded diamond drilling across Buchans, the Victoria Lake Supergroup portfolio and Wilding:Buchans (~5,000m planned): 2,000m winter program has commenced, targeting 3DIP anomalies and structural corridors prospective for Buchans-style massive sulphide mineralization, plus expansion drilling at the Lundberg deposit and Two Level zone. Additional ~3,000m follow-up testing later in 2026.VLSG Portfolio (up to ~5,000m): Belt-wide target ranking across multiple VMS deposits (Bobbys Pond, Daniels Pond, Boomerang, Lemarchant, Long Lake & Tulks deposits) and prospects to prioritize 2026 prospecting, geophysics, and targeted diamond drilling.Wilding Gold Project (~5,000m planned): Initial field program consisting of ~250 percussion drill holes (basal till and top-of-bedrock sampling) has commenced along the 55 km Valentine structural trend, with follow-up diamond drilling scheduled for H2 2026.Chris Pennimpede, President and CEO of Canterra, commented: "2026 marks the beginning of a true discovery-driven phase for Canterra. At Buchans, winter drilling is already underway as we apply modern deep-seeking geophysics to one of the world's most prolific high-grade VMS districts and systematically test targets that previous operators could not effectively evaluate at depth.In parallel, we are advancing our Wilding gold Project along the same structural corridor that hosts the producing Valentine Mine, where we control a 55-kilometre extension of this gold-bearing trend. Our Q1–Q2 program is designed to refine and prioritize targets ahead of diamond drilling in the second half of the year.With a fully funded 15,000-metre program and successive drill results anticipated throughout 2026, we believe we are positioned to demonstrate the broader district-scale potential of our Newfoundland land package."2026 Exploration Program OverviewBuchans Project – Winter drilling underway; follow-up on 3D induced polarization results and integrated targetingObjective: Advance discovery and resource growth potential at Buchans by drill-testing high-priority targets generated from the Company's 2025 deep-seeking 3DIP program and subsequent integrated interpretation. In addition, Canterra intends to undertake additional drilling for resource expansion at the Lundberg deposit and at the high-grade Two-Level zone as follow-up to positive drilling results achieved in 2025.2026 work program – Buchans project:Approximately 5,000 metres of drilling, beginning with an initial ~2,000 metre winter program currently in progress at the West Clementine target (Figure 1).Winter drilling will test priority targets interpreted from 3DIP chargeability/resistivity responses, integrated with geology, structure, historical drilling, and ongoing targeting work to refine vectors toward Buchans-style massive sulphide mineralization.Results from the winter program will ...Full story available on Benzinga.com
