Canter Resources Corp. (CRC:CSE;  CNRCF:OTC;  601:FRA) has commenced its Phase II drill program at the Columbus Lithium-Boron Project, located near Tonopah, Nevada. The program includes up to 10 Geoprobe drill holes and will use updated drill rig models and tooling.

The primary objectives are to test a third aquifer zone below the successful Phase I drilling depths, demonstrate lateral continuity between drill grids spaced five kilometers apart, and test additional regional targets to the east and north of the previously completed drilling. Initial brine results from this phase are expected in Q3, with further sediment results and multi-element analysis anticipated in early Q4.

U.S. Lithium Sector Drives National and Economic Security

The critical minerals sector, particularly lithium, has played a significant role in bolstering the economic and national security of the United States. According to a report from Energy & Fuels published by ACS Publications in May, "the significance of lithium in modern applications, such as lithium battery production for electric vehicles and various manufacturing processes, underscored its important role in daily life." This essential mineral has become increasingly critical as the demand for clean energy technologies and advanced manufacturing has surged.

Chen Lin, in his newsletter What Is Chen Buying? What Is Chen Selling? commented, "Canter Resources Corp. came out with a good report on its drilling so far."

The Society for Mining, Metallurgy, & Exploration (SME) highlighted the crucial nature of these minerals, stating that "critical and strategic minerals are essential to the economic and national security of both industrialized nations like the United States and developing countries."

However, the U.S. has faced growing dependence on foreign sources for these critical materials, which has raised concerns about the security of supply chains.

Efforts to address these concerns have included significant government initiatives. The Innovation News Network noted on June 5 that "the US has taken a variety of measures to bolster its national, energy, and economic security by incentivizing re-industrialization of the U.S. via the landmark Inflation Reduction Act (IRA)." These policy incentives, coupled with measures like 25% tariffs on imports of Chinese critical minerals, have positioned U.S. lithium miners to develop projects and integrate supply chains from mine to battery.

Furthermore, as reported by the Las Vegas Review-Journal in June, responsible mining projects have been seen as a "lifeline" for communities, providing sustainable income, job opportunities, and essential services. The Rhyolite Ridge project in Nevada was specifically noted for its "commitment to environmental preservation," an approach that aligns with broader industry goals of minimizing environmental impacts while maximizing resource extraction.

These developments underscore the U.S.'s strategic position in the global lithium market. According to the Innovation News Network, "recent studies placed the U.S. as a frontrunner in creating an ex-China lithium supply chain," with significant domestic resources, including the 14 million metric tons of lithium identified by the USGS. This places the U.S. third worldwide in lithium resources, behind Bolivia.

Boron: A Catalyst for Technological Evolution 

Canter Resources' Columbus Project also targets significant boron mineralization. According to the company's August 2024 corporate presentation, "Boron is a catalyst for technological evolution and innovation," with growing demand in sectors such as semiconductors, electric vehicles, renewable energy, military, and aerospace.

The presentation further highlighted that "boron grades increase with depth," providing promising indicators for deeper exploration and resource potential within the Columbus basin.

As boron becomes increasingly recognized as a critical mineral, its role in Canter's exploration efforts underscores the multi-commodity potential of the project.

Canter's Catalysts

The Phase II drilling at Columbus is a significant step in Canter Resources' ongoing exploration of the site.

According to Canter CEO Joness Lang in the company news release, "We are excited to have our second phase of drilling now underway at Columbus, which we expect will further demonstrate the near-surface, multi-commodity mineral resource potential at Columbus. The comprehensive combined dataset from our first two phases of drilling will allow us to map and profile the shallow aquifer zones at Columbus and provide valuable geochemical data for our 3D model and mineralization pattern analysis for both lithium and boron. We look forward to sharing Phase II drill results beginning in September."

Expert Opinions on Canter

Canter Resources Corp. has attracted attention from industry experts following its recent exploration updates.

 "There is a lot of activity ahead for this young company, on a project that shows the potential to match what its neighbors have," Jeff Clark of The Gold Advisor wrote.

Chen Lin, in his newsletter What Is Chen Buying? What Is Chen Selling?, dated August 2, 2024, commented, "Canter Resources Corp. came out with a good report on its drilling so far. It is looking good [the project] hosts a great basin of lithium and boron though the market is not looking at it."

Jeff Clark, in The Gold Advisor on August 1, 2024, provided a detailed analysis of Canter's Columbus Lithium-Boron Project, pointing out the strategic importance of the company's drilling efforts.

Clark noted, "What really sticks out to me in this press release is this graphic, which, as CEO Joness Lang says, is 'targeting the same multi-commodity (lithium and boron) mix as Ioneer's (~$300M CAD MC) Rhyolite Ridge Project (located 17 miles south), with the same volcanic source rocks terminating at and feeding the Columbus basin.'"

Clark further emphasized the company's comprehensive plans for the rest of the year, stating, "There is a lot of activity ahead for this young company, on a project that shows the potential to match what its neighbors have." He also noted, "Phase II drilling, beginning mid-August, with an updated drill rig model to test a third aquifer zone target below the depths of Phase I drilling. Remember it's at depth where we think the bigger lithium mineralization is located."

With these observations, Clark suggested that Canter Resources could present significant opportunities, especially as it progresses toward a potential discovery. He advised investors, "But don't give up on this one; as this report shows, the company has aggressive plans to work toward a discovery on a highly prospective land package with neighbors that have 2-45 times the market cap."

Ownership and Share Structure

According to the company, managers and insiders own about 9.6% of Canter Resources, and strategic investors (including the founding group and Michael Gentile & Advisors) own about 12%.

The investors with the largest stake are all insiders. They are CEO and Director Joness Lang with 3.39%, Director and Strategic Adviser Warwick Smith with 2.18%, Director and Technical Adviser Kenneth Cunningham with 1.95%, Chief Financial Officer Alnesh Mohan with 0.97%, and Director and Technical Adviser Eric Saderholm with 0.58%, and Gentile, who owns about 4% personally.

Four institutions or funds, including Euro Pacific Asset Management, collectively hold 3%. Retail investors own the remaining.

The Canadian explorer has 51.29 million outstanding shares, 46.45 million free float traded shares with a CA$7.44 million market cap.

Over the past 52 weeks, Canter has traded between CA$0.07 and CA$0.99 per share.

Sign up for our FREE newsletter

Important Disclosures:

1. Canter Resources Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Canter Resources Corp.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.