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Vancouver, British Columbia--(Newsfile Corp. - October 17, 2024) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company") is pleased to report that the Company's transaction to acquire the Railroad Valley claims ("RV Project"), as previously reported (see Company news release on September 12, 2024), has now closed.
The RV Project claim block is contiguous with ground controlled by the most active critical mineral explorer in Railroad Valley, 3 Proton Lithium or 3PL (private). Canter has compiled historical data and plans to complete follow up sampling at the RV Project (164 kilometres from the Company's exploration base in Tonopah) in Q4/2024.
"We are excited to have expanded our lithium-boron exploration footprint in Nevada with this strategic acquisition in a highly prospective, yet underexplored area," commented Canter CEO, Joness Lang. "While our primary focus remains on advancing our flagship Columbus Project, we see value in adding low-cost, high-potential projects that strengthen our portfolio and align with our long-term growth strategy."
Railroad Valley presents a geologically favourable environment for lithium-boron exploration due to several key geological features:
Paleozoic and Tertiary Rock Units:
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The valley is flanked by Paleozoic limestone and dolomite carbonate rocks. These rocks are exposed in the Pancake Range to the west and the Quinn Canyon and Grant Ranges to the east.
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The east side of Railroad Valley is underlain by Paleozoic rocks, while the west side is dominated by Tertiary volcanic rocks at depths of up to 4,900 feet. These formations, particularly the volcanic units, are essential in hosting lithium deposits.
Figure 1: Showing location of Canter's flagship Columbus and Railroad Valley (RV) lithium-boron projects in Nevada.
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Volcanic Calderas:
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A major geologic feature of interest is the Hot Creek Valley Caldera Complex, located in the Pancake Range to the west of Railroad Valley. This complex consists of five individual calderas. Additionally, three more calderas are present on the southern side of the valley and one on the northern side.
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The presence of these volcanic calderas is considered highly favorable for lithium and boron exploration, as volcanic activity can lead to the concentration of these elements in the basin sediments.
Geologic Activity and Basin Characteristics: