Curated News
By: NewsRamp Editorial Staff
October 14, 2025
Centenario Gold Acquires High-Grade Cabot Copper-Gold Project in Newfoundland
TLDR
- Centenario Gold's acquisition of the Cabot Project offers strategic advantage in a proven mining district with high-grade copper and gold potential near established mines.
- Centenario will acquire the Cabot Project through staged cash payments, share issuances, and exploration expenditures while implementing a 10:1 share consolidation and $1.5M private placement.
- This project development creates economic opportunities in Newfoundland while responsibly exploring for metals essential to modern technology and sustainable energy infrastructure.
- Historic samples revealed remarkable grades including 70.38 g/t gold and 7% copper across 48 square kilometers of untested exploration targets in a proven mining region.
Impact - Why it Matters
This acquisition matters because it positions Centenario Gold to capitalize on growing demand for copper and gold in a proven mining district. Copper is essential for the global transition to clean energy and electrification, while gold remains a critical safe-haven asset. The project's location in Newfoundland's Baie Verte Peninsula provides access to established infrastructure and mining expertise, reducing development risks. For investors, the combination of high-grade historical results, multiple untested targets, and strategic financial restructuring creates significant potential for value creation. The proximity to established mines like Firefly Metals' Ming operation and Maritime Resources' Point Rousse project suggests strong geological potential in an area with demonstrated mineral endowment.
Summary
Centenario Gold Corp. (TSXV: CTG) has announced a significant strategic move by entering into a non-binding Letter of Intent to acquire 100% of the Cabot Mineral Project from PNL Ventures Limited. This copper-gold-cobalt exploration asset spans over 4,800 hectares in Newfoundland's Baie Verte Peninsula, a region with proven mining success and established infrastructure. The acquisition represents a major expansion of Centenario's portfolio in a rapidly developing mining district that includes notable neighbors like Firefly Metals' Ming Copper-Gold Mine and Maritime Resources' Point Rousse Gold Project.
The Cabot Project features two distinct mineralized zones with impressive historical results. The Cabot Copper Zone has demonstrated copper grades up to 7% in samples, with five drill-ready targets identified, four of which remain completely untested. Meanwhile, the Marble Cove Gold Prospect has returned historic samples containing up to 70.38 g/t Au, situated along strike from Maritime Resources' established gold-bearing structures. President & CEO Doug Fulcher emphasized that the project aligns perfectly with Centenario's strategy of focusing on high-potential targets in established mining jurisdictions, particularly given current trends in copper demand and gold prices.
Complementing the acquisition news, Centenario announced a proposed 10:1 share consolidation that would reduce outstanding shares from 41.8 million to approximately 4.18 million, aimed at improving trading liquidity and fundraising capabilities. The company also revealed a $1.5 million private placement offering 15 million units at $0.10 each, with half-warrants exercisable at $0.15 for 24 months. These financial maneuvers position Centenario to aggressively pursue exploration at the Cabot Project while maintaining strong capital structure. The transaction terms include cash payments, share issuances, and exploration expenditure commitments, with Centenario granting PNL a 3% net smelter return royalty upon commercial production.
Source Statement
This curated news summary relied on content disributed by NewMediaWire. Read the original source here, Centenario Gold Acquires High-Grade Cabot Copper-Gold Project in Newfoundland
