Magna Terra Minerals Inc. (TSXV: MTT) (“Magna Terra” or the “Firm”) is happy to announce that it has found copper mineralization throughout early-stage prospecting at its 40,675-hectare, 100% owned Humber Copper-Cobalt Venture (the “Humber Venture” or the “Venture”) positioned in western Newfoundland (Determine 1). The invention of copper mineralization in bedrock is positioned on the east finish of the Hughes Lake Pattern. Copper mineralization from floor rock seize samples^^ from outcrop and subcrop contains between 0.5 to five% mixed, fracture-controlled, foliation parallel stringers and disseminated, malachite, bornite and chalcopyrite hosted inside dolomitized limestone and adjoining altered clastic sedimentary and/or mafic volcanic rocks over an noticed strike size of 700 metres and marks the primary prevalence of copper famous on this under-explored property (Figures 1, 2, and three). Ongoing and preliminary subject work consisting of prospecting, geological mapping, and the gathering of 1,700 soil samples is targeted on following up on the Hughes Lake Pattern the place an 8-kilometre-long anomalous zone of copper and cobalt in soil samples** is coincident with mafic volcanic rocks of the Hughes Lake Advanced and related magnetic rocks.
All soil and rock samples collected might be submitted to Japanese Analytical Ltd. in Springdale, NL and might be analysed for gold (30 g fireplace assay) and multi-element geochemistry, together with components Cu, Pb, Zn, Co, and Ag (methodology ICP-34). Analytical outcomes are pending and might be reported in a future information launch.
The Firm can also be happy to announce that it has accomplished the beforehand introduced 2,377 line-kilometre (“km”) airborne geophysical survey on the Venture. The helicopter-borne survey consisted of a scientific, property-wide, time-domain electromagnetic (“VTEM™ Plus”) and horizontal magnetic gradiometer survey and can present the baseline geophysical knowledge to information geological mapping and help in focusing exploration efforts on the invention of Copper-Cobalt deposits. That is the primary geophysical survey of this sort within the space. The Firm is thinking about areas of geophysical anomalies coincident with anomalous copper (“Cu”), cobalt (“Co”), lead (“Pb”), silver (“Ag”), molybdenum (“Mo”), gold (“Au”), arsenic (“As”), and antimony (“Sb”) lake sediment values discovered all through the Venture space (Figures 1 and a pair of).
Magna Terra want to acknowledge and thank each the Province of Newfoundland and Labrador and the Atlantic Canada Alternatives Company (“ACOA”) for his or her monetary help via Junior Exploration Help (“JEA”) program for work on the Humber Copper-Cobalt Venture.
“We’re very inspired to have found in-situ copper mineralization throughout the first few days of engaged on the Humber Venture. This necessary discovery helps our idea that the Humber Venture has the potential to host Sediment-hosted Stratiform Copper Deposits, and with our exploration staff at present on the bottom we look ahead to assessing further targets throughout the intensive property. With the completion of the airborne survey, we could have one of many requisite knowledge layers upon which to base additional focusing on for related fashion mineralization. We look ahead to updating shareholders on the outcomes of this preliminary work program and sincerely admire the monetary assist of the Province of Newfoundland and Labrador and ACOA via the JEA program.
“On the Humber Copper-Cobalt Venture, now we have assembled a uncommon, first-mover, district-scale undertaking alternative, that can proceed to leverage our experience. We’re desirous to show the Venture’s prospectivity targeted on essential metallic discovery and the worth we consider this Venture brings to our traders.”
~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.
Humber Venture Highlights
Potential for discovery of serious Cu-Co deposits;Host to regionally anomalous Cu, Co, Ag, Pb +/- Au, Mo, As, and Sb lake sediments;8+ km Hughes Lake Copper-Cobalt Pattern;Analogous to the Kalahari Copper Belt, Namibia and Botswana; Central African Copper Belt, Zambia and the Democratic Republic of Congo (DRC); and the Kupferschiefer Belt, Poland;Globally, these Sediment-hosted Stratiform Copper (“SSC”) deposit sorts characterize 20% of Cu manufacturing* and 60% of Co manufacturing^;District-scale land bundle now comprising 40,675 hectares;Situated throughout the premier mining jurisdiction of Newfoundland and Labrador;12 months-round accessibility with highway entry to the vast majority of the Venture;First mover benefit in a beforehand unrecognized space of exploration potential; andAcquired via staking – price efficient acquisition and with no underlying royalties or possibility funds.
In regards to the Geophysical Survey
The helicopter-borne survey was accomplished by Geotech Ltd. and comprised a Versatile Time-Area Electromagnetic (VTEM™ Plus) and horizontal magnetic gradiometer survey. The survey was flown at 200 metre spacing in a northwest development throughout the strike of the underlying geology with perpendicular tie traces flown at 2 kilometre spacing.
Lake Sediment Geochemistry and World Analogues
The Venture is underlain by rocks of the sedimentary Humber Arm Allochthon and adjoining plutonic and volcanic Hughes Lake Advanced, which is centred on a collection of anomalous lake sediment samples (Davenport et al., 1996) that present regionally elevated ranges of Co (as much as 160 ppm), Ag (as much as 0.6 ppm), Pb (as much as 84 ppm), Cu (as much as 185 ppm), As (as much as 142 ppm), Mo (as much as 15 ppm), and Au (as much as 10 ppb). An evaluation of the lake sediment geochemical knowledge by way of Principal Part Evaluation has indicated that the metallic suite current throughout the Venture space is probably going associated to a black shale supply, as most of the anomalous lake sediments have low-Ni values which precludes affiliation with the close by ophiolite complexes to the fast west.
This metallic signature (Cu, Co, Ag, Pb +/- Au, Mo, As, Sb) and geological setting is supportive of the world being host to SSC deposits. SSC deposits host 60% of world Cobalt manufacturing^ and 20% of world Copper manufacturing* in deposits such because the Central African Copper Belt, which is regarded as analogous to the geological setting of the Humber Copper-Cobalt Venture. SSC deposits are sometimes laterally steady alongside bedding and comprise constant grades (1.2 to five% Cu)* and enormous sources of by-product Au, U, platinum-group, and rare-earth components. The exploration potential can also be underscored by the presence of base metallic deposits close by together with the York Harbour and Daniels Harbour Deposits positioned at decrease stratigraphic ranges of the area.
Determine 1: A map exhibiting the Humber Venture with underlying geology of the Humber Arm Allochthon, coincident anomalous Cu (ppm) lake sediment samples and placement of the not too long ago staked Hughes Lake Block.
To view an enhanced model of this graphic, please go to:https://photographs.newsfilecorp.com/recordsdata/11586/259089_270eb151d4c83a9d_002full.jpg
Determine 2: A map exhibiting the geology, lake sediment samples (Cu-ppm) and reconnaissance soil samples** (Cu-ppm) and placement of current copper discovery alongside the 8-kilometre lengthy Hughes Lake mafic volcanics, Humber Venture.
To view an enhanced model of this graphic, please go to:https://photographs.newsfilecorp.com/recordsdata/11586/259089_270eb151d4c83a9d_003full.jpg
Determine 3: Discipline pictures of consultant rock samples displaying fracture and foliation parallel stringer malachite, bornite and chalcopyrite mineralization hosted inside dolomitized limestone alongside the Hughes Lake Pattern, Humber Venture.
To view an enhanced model of this graphic, please go to:https://photographs.newsfilecorp.com/recordsdata/11586/259089_270eb151d4c83a9d_004full.jpg
Certified Particular person and Technical Disclosure
This information launch has been reviewed and authorised by David A. Copeland, P.Geo., a non-independent advisor to the Firm and a “Certified Particular person” as outlined beneath Nationwide Instrument 43-101 – Customary for Disclosure for Mineral Tasks.
All quoted soil and lake sediment samples outcomes had been compiled from historic evaluation and authorities reviews obtained from the federal government of Newfoundland and Labrador. The Certified Particular person has not accomplished enough work to validate these historic outcomes.
^^Seize samples are selective by nature and should not characterize the true metallic content material of the mineralized zone.
*https://www.geologyforinvestors.com/sediment-hosted-stratiform-copper-deposits-the-future-of-copper-and-cobalt-mining/
^Petavratzi, E, Gunn, G, Kresse, C. (2019). Commodity evaluate: Cobalt. British Geological Survey.
**(Galloper Gold Corp.; Fage, 2022)
About Magna Terra
Magna Terra Minerals Inc. is a treasured and demanding metals targeted exploration firm, headquartered in Toronto, Canada. Magna Terra is targeted on buying and advancing its high-potential mineral tasks in Atlantic Canada and Argentina whereas producing worth for shareholders and minimizing shareholder dilution via possibility and three way partnership partnerships the place applicable; leveraging our capacity to discover, develop, and transact tasks. The Firm is targeted on exploring our 100%-owned Humber Copper-Cobalt Venture in Newfoundland and Labrador; our 100% owned Rocky Brook Gold and Important Metals Venture within the historic Bathurst Mining Camp of New Brunswick; and our 100%-owned Cape Spencer Gold Venture in New Brunswick. As well as, the Firm has optioned the Nice Northern Venture in Newfoundland to Gold Hunter Assets Inc. (“Gold Hunter”) for whole money and share consideration of $9.5 million over a 2-year interval, and at present holds an approximate 28.9% fairness curiosity in Gold Hunter. Additional, the Firm maintains a major exploration portfolio within the province of Santa Cruz, Argentina which incorporates its massive 100% owned Boleadora Venture not too long ago retained from Newmont Corp.; a treasured metals discovery on its Luna Roja Venture proximal to Cerrado Gold’s working Don Nicholas Venture infrastructure, in addition to a number of further district scale drill prepared tasks out there for buy or possibility/three way partnership.
Ahead-Wanting Statements
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Cautionary Statements Relating to Ahead-Wanting Info
This information launch comprises forward-looking statements and forward-looking info (collectively, “forward-looking statements”) throughout the which means of relevant Canadian laws. All statements on this information launch that aren’t purely historic are forward-looking statements and embrace statements relating to beliefs, plans, expectations and orientations relating to the longer term together with, with out limitation, the power of the Firm to file a report that complies with Nationwide Instrument 43-101. Though the Firm believes that such statements are affordable and replicate expectations of future developments and different components which administration believes to be affordable and related, the Firm can provide no assurance that such expectations will show to be right. Ahead-looking statements are usually recognized by phrases corresponding to: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “could”, “ought to”, “would”, “will”, “potential”, “scheduled” or variations of such phrases and phrases and related expressions, which, by their nature, consult with future occasions or outcomes which will, may, would, may or will happen or be taken or achieved. In making the forward-looking statements on this information launch, the Firm has utilized a number of materials assumptions, together with with out limitation, and the power of the creator of the Technical Studies to finalize similar.
Ahead-looking statements contain identified and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the Firm to vary materially from any future outcomes, efficiency or achievements expressed or implied by the forward-looking info. Such dangers and different components embrace the lack of the Firm to execute its proposed enterprise plans and perform deliberate future actions. Different components may additionally adversely have an effect on the longer term outcomes or efficiency of the Firm, together with common financial, market or enterprise circumstances, future costs of gold, adjustments within the monetary markets and within the demand for treasured metals, adjustments in legal guidelines, rules and insurance policies affecting the mineral exploration trade, and the Firm’s funding and operation within the mineral exploration sector, in addition to the dangers and uncertainties that are extra absolutely described within the Firm’s annual and quarterly administration’s dialogue and evaluation and in different filings made by the Firm with Canadian securities regulatory authorities beneath the Firm’s SEDAR+ profile at www.sedarplus.ca. Readers are cautioned that forward-looking statements should not ensures of future efficiency or occasions and, accordingly, are cautioned to not put undue reliance on forward-looking statements because of the inherent uncertainty of such statements.
These forward-looking statements are made as of the date of this information launch and, except required by relevant legislation, the Firm assumes no obligation to replace the forward-looking statements or to replace the explanation why precise outcomes may differ from these projected in these forward-looking statements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Magna Terra Minerals Inc.Lewis LawrickPresident and CEO, Director647-478-5307Email: data@magnaterraminerals.comWebsite: www.magnaterraminerals.com
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