18:42:12 EDT Mon 20 May 2024
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Canter Resources Corp
Symbol CRC
Shares Issued 50,988,401
Close 2024-04-05 C$ 0.39
Market Cap C$ 19,885,476
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Canter Resources to stake western edge of Columbus

2024-04-08 02:01 ET - News Release

Mr. Joness Lang reports

CANTER RESOURCES EXPANDS THE COLUMBUS PROJECT TO APPROXIMATELY 30,000 ACRES TO COVER WEST TRENDING LITHIUM BRINE TARGET

After interpreting recently acquired third party data and completing 3-D modelling, Canter Resources Corp.'s technical team has immediately mobilized to site to stake the limited open ground along the western edge of the Columbus lithium-boron project. The full-surface sampling data set includes highly anomalous lithium values along the company's previous western boundary and beyond. Furthermore, the company's 3-D modelling, and particularly the HSAMT resistivity shells, highlighted a broadening and open-ended conductive zone trending west with only two kilometres to the limits of the company's previous property boundary. The land package now stands at a commanding 29,600 acres (119 square kilometres).

"We are thrilled to have significantly expanded our land package at Columbus to encompass the full extent of the most prospective ground for lithium-enriched brines before commencing our drill campaigns," stated Joness Lang, chief executive officer of Canter Resources. "Our team sees tremendous potential at Columbus, and we are excited to get under way with Geoprobe drilling, which will commence imminently."

The 3-D modelling has been instrumental in revealing the expansive potential within the Columbus project area. By carefully analyzing the geological structures and resistivity patterns, the company has identified a westward-trending conductive zone that signifies a broadening corridor of potential lithium-bearing brines. This insight is critical as it suggests a continuous zone extending beyond the original property boundaries.

Moreover, the HSAMT data have been pivotal in understanding the subsurface characteristics of the project area. The HSAMT survey's leading edge terminated within an area exhibiting extremely low resistivity, indicative of highly conductive material likely associated with brine concentrations. This cut-off, due to the survey reaching its westernmost extent, aligned with the trend of anomalous lithium values in surface sediments extending westward. This discovery underpins the decision to expand the land package, thereby increasing the scope for further exploration and potential resource identification.

Canter Resources is poised to implement a more comprehensive phase 2 exploration program. This next phase will include expanded geophysical survey coverage, aiming to thoroughly map out the resistivity and structural profiles across the newly acquired acreage.

Qualified person

The technical information contained in this news release was reviewed and approved by Eric Saderholm, PGeo, director and technical adviser of Canter Resources, a qualified person as defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Canter Resources Corp.

Canter Resources is a Canadian junior mineral exploration company, advancing the Columbus lithium-boron project in Nevada, United States, and the Beaver Creek lithium property in Montana, United States. The company is preparing for a phase 1 drill campaign at Columbus to test a highly prospective lithium-brine target and plans to leverage the company's critical-metal-targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the domestic clean energy supply chain in North America.

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