Vancouver, British Columbia--(Newsfile Corp. - September 10, 2024) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company") is pleased to report that it has completed Phase II Geoprobe drilling at its Columbus Lithium-Boron Project ("Columbus" or the "Project"), located near Tonopah, Nevada.
Geoprobe Phase II Program Highlights:
Deepest Hole to Date: Hole CB24-010G reached the greatest depth of the two programs at 124 feet (37.8 metres), identifying three distinct aquifer zones. This hole is located 2.91 kilometres north of the northern-most hole from Phase I, extending the exploration footprint significantly (see Photo 1).
Halite Bed Continuity: Multiple holes encountered the halite marker bed, indicating continuity across a notable strike length. This discovery is significant, as the presence of crystallized salts and borates points to past brine activity in the basin and provides evidence of basin stability during a mature phase of its geological cycle (see Photo 2).
Brine and Water Sampling Success: The program resulted in successful collection of brine samples from all five holes, advancing the Company's ability to assess the subsurface chemistry and resource potential.
Extended Brine Zones: The program encountered brine zones extending >750 metres west and >500 metres east of the Phase I central grid, further confirming the lateral extent of the brine-bearing formations (see Figure 1).
Cost Savings: The Company achieved its primary objectives (i) collecting brine samples east and west of the original grid, (ii) reaching a third aquifer zone deeper than Phase I and (iii) collecting larger samples suitable for multi-element analysis with five (5) drill holes (instead of up to 10), with the program coming in approximately 60% under budget.
"We are pleased to have accomplished our primary objectives for a fraction of the planned Phase II budget, preserving capital for follow-up work that will be guided by an updated model that will benefit from the 20 drill holes and comprehensive geochemical dataset generated from these first two phases of drilling," commented Canter CEO, Joness Lang. "We expect brine assay results in September and select sediment assay results the following month."
Photo 1: Collecting brine sample from CB-24-010G at 124 feet (37.8 metres)
Regional drill hole CB-24-010G was located nearly three (3) kilometres to the north of the northern-most drill hole location from Phase I. This Phase II drill hole reached the greatest depth of the Geoprobe campaigns with three brine samples collected at 44.9, 75.1 and 124 feet (13.7, 22.9 and 37.8 metres, respectively).
Photo 2: Halite material at approximately 100 feet (30 metres) from drill hole CB-24-040G
The Phase II program encountered a halite bed in multiple drill holes (see Photo 2), with water samples collected immediately above the halite bed. The discovery of a thin halite/borate crystalline bed in shallow Geoprobe holes at the Columbus Basin sheds light on the region's geological processes and mineralization potential. This crystalline layer likely formed as ancient lake waters evaporated, leaving behind concentrated salts and minerals. Over time, the brine reached saturation levels, causing halite (sodium chloride) and borates to precipitate and form a crystalline bed. Subsequent sediment deposition preserved these layers, which were uncovered in recent drilling.
Implications for Lithium and Boron Exploration
This halite/borate bed indicates the presence of an evaporite environment, highly favorable for lithium and boron concentrations. The crystallization of salts and borates points to past brine activity in the basin, suggesting that similar lithiumenriched brines could be present at depth. Moreover, this bed can serve as a key stratigraphic marker, aiding in correlating geological units and refining exploration targets.
Figure 1: Plan view map showing Phase I and Phase II locations
Brine assay results will be released once received, vetted and interpreted. Select sediment samples will be sent to the lab for assay in the coming weeks with solid assay results expected in early Q4/2024.
For more information about boron and lithium, please visit the Company's Boron 101 and Lithium 101 pages on the website.
Qualified Person (QP)
The technical information contained in this news release was reviewed and approved by Eric Saderholm P.Geo, Director and Technical Advisor of Canter Resources, a Qualified Person (QP), as defined under National Instrument 43- 101 - Standards of Disclosure for Mineral Projects.
About Canter Resources Corp.
Canter Resources Corp. is a junior mineral exploration company advancing the Columbus Lithium-Boron Project in Nevada, USA and the Beaver Creek Lithium Property in Montana, USA. The Company is completing a phased drilling approach at Columbus to test highly prospective brine targets at varying depths for lithium-boron enrichment and plans to leverage the Company's critical metals targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the technology and domestic clean energy supply chains in North America.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
