Magna Terra Discovers Copper Mineralization and Completes Airborne Geophysical Survey at the Humber Copper-Cobalt Project in Newfoundland
Magna Terra Discovers Copper Mineralization
and Completes Airborne Geophysical Survey
at the Humber Copper-Cobalt Project in
Newfoundland
Toronto, Ontario--(Newsfile Corp. - July 17, 2025) -
Magna Terra Minerals Inc.
(TSXV: MTT)
("
Magna
Terra
" or the "
Company
") is pleased to announce that it has discovered copper mineralization during
early-stage prospecting at its 40,675-hectare, 100% owned Humber Copper-Cobalt Project (the
"Humber Project" or the "Project") located in western Newfoundland (
Figure 1
). The discovery of copper
mineralization in bedrock is located on the east end of the Hughes Lake Trend. Copper mineralization
from surface rock grab samples^^ from outcrop and subcrop comprises between 0.5 to 5% combined,
fracture-controlled, foliation parallel stringers and disseminated, malachite, bornite and chalcopyrite
hosted within dolomitized limestone and adjacent altered clastic sedimentary and/or mafic volcanic
rocks over an observed
strike length of 700 metres
and marks the first occurrence of copper noted on
this under-explored property (
Figures 1, 2, and 3
). Ongoing and initial field work consisting of
prospecting, geological mapping, and the collection of 1,700 soil samples is focused on following up on
the Hughes Lake Trend where an 8-kilometre-long anomalous zone of copper and cobalt in soil
samples** is coincident with mafic volcanic rocks of the Hughes Lake Complex and associated
magnetic rocks.
All soil and rock samples collected will be submitted to Eastern Analytical Ltd. in Springdale, NL and will
be analysed for gold (30 g fire assay) and multi-element geochemistry, including elements Cu, Pb, Zn,
Co, and Ag (method ICP-34). Analytical results are pending and will be reported in a future news
release.
The Company is also pleased to announce that it has completed the previously announced 2,377 line-
kilometre ("km") airborne geophysical survey on the Project. The helicopter-borne survey consisted of a
systematic, property-wide, time-domain electromagnetic ("VTEM™ Plus") and horizontal magnetic
gradiometer survey and will provide the baseline geophysical data to guide geological mapping and
assist in focusing exploration efforts on the discovery of Copper-Cobalt deposits. This is the first
geophysical survey of this type in the area. The Company is interested in 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 found
throughout the Project area (
Figures 1 and 2
).
Magna Terra would like to acknowledge and thank both the Province of Newfoundland and Labrador and
the Atlantic Canada Opportunities Agency ("ACOA") for their financial assistance through Junior
Exploration Assistance ("JEA") program for work on the Humber Copper-Cobalt Project.
"We are very encouraged to have discovered in-situ copper mineralization within the first few days of
working on the Humber Project. This important discovery supports our concept that the Humber
Project has the potential to host Sediment-hosted Stratiform Copper Deposits, and with our
exploration team currently on the ground we look forward to assessing additional targets across the
extensive property. With the completion of the airborne survey, we will have one of the requisite data
layers upon which to base further targeting for similar style mineralization.
We look forward to updating
shareholders on the results of this initial work program and sincerely appreciate the financial support
of the Province of Newfoundland and Labrador and ACOA through the JEA program.
"At the Humber Copper-Cobalt Project, we have assembled a rare, first-mover, district-scale project
opportunity, that will continue to leverage our expertise. We are eager to demonstrate the Project's
prospectivity focused on critical metal discovery and the value we believe this Project brings to our
investors."
~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.
Humber Project Highlights
Potential for discovery of significant Cu-Co deposits;
Host to regionally anomalous Cu, Co, Ag, Pb +/- Au, Mo, As, and Sb lake sediments;
8+ km Hughes Lake Copper-Cobalt Trend;
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 types represent 20% of Cu
production* and 60% of Co production^;
District-scale land package now comprising 40,675 hectares;
Located within the premier mining jurisdiction of Newfoundland and Labrador;
Year-round accessibility with road access to the majority of the Project;
First mover advantage in a previously unrecognized area of exploration potential; and
Acquired through staking - cost effective acquisition and with no underlying royalties or option
payments.
About the Geophysical Survey
The helicopter-borne survey was completed by Geotech Ltd. and comprised a Versatile Time-Domain
Electromagnetic (VTEM™ Plus) and horizontal magnetic gradiometer survey. The survey was flown at
200 metre spacing in a northwest trend across the strike of the underlying geology with perpendicular tie
lines flown at 2 kilometre spacing.
Lake Sediment Geochemistry and Global Analogues
The Project is underlain by rocks of the sedimentary Humber Arm Allochthon and adjacent plutonic and
volcanic Hughes Lake Complex, which is centred on a series of anomalous lake sediment samples
(Davenport et al., 1996) that show regionally elevated levels of Co (up to 160 ppm), Ag (up to 0.6 ppm),
Pb (up to 84 ppm), Cu (up to 185 ppm), As (up to 142 ppm), Mo (up to 15 ppm), and Au (up to 10 ppb).
An analysis of the lake sediment geochemical data via Principal Component Analysis has indicated that
the metal suite present within the Project area is likely related to a black shale source, as many of the
anomalous lake sediments have low-Ni values which precludes association with the nearby ophiolite
complexes to the immediate west.
This metal signature (Cu, Co, Ag, Pb +/- Au, Mo, As, Sb) and geological environment is supportive of the
area being host to SSC deposits. SSC deposits host 60% of global Cobalt production^ and 20% of
global Copper production* in deposits such as the Central African Copper Belt, which is thought to be
analogous to the geological setting of the Humber Copper-Cobalt Project. SSC deposits are often
laterally continuous along bedding and contain consistent grades (1.2 to 5% Cu)* and large resources of
by-product Au, U, platinum-group, and rare-earth elements. The exploration potential is also underscored
by the presence of base metal deposits nearby including the York Harbour and Daniels Harbour
Deposits located at lower stratigraphic levels of the region.
Figure 1:
A map showing the Humber Project with underlying geology of the Humber Arm Allochthon,
coincident anomalous Cu (ppm) lake sediment samples and location of the recently staked Hughes
Lake Block.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11586/259089_270eb151d4c83a9d_002full.jpg
Figure 2:
A map showing the geology, lake sediment samples (Cu-ppm) and reconnaissance soil
samples** (Cu-ppm) and location of recent copper discovery along the 8-kilometre long Hughes Lake
mafic volcanics, Humber Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11586/259089_270eb151d4c83a9d_003full.jpg
Figure 3:
Field photographs of representative rock samples displaying fracture and foliation parallel
stringer malachite, bornite and chalcopyrite mineralization hosted within dolomitized limestone along the
Hughes Lake Trend, Humber Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11586/259089_270eb151d4c83a9d_004full.jpg
Qualified Person and Technical Disclosure
This news release has been reviewed and approved by David A. Copeland, P.Geo., a non-independent
consultant to the Company and a "Qualified Person" as defined under National Instrument 43-101 -
Standard for Disclosure for Mineral Projects
.
All quoted soil and lake sediment samples results were compiled from historic assessment and
government reports obtained from the government of Newfoundland and Labrador. The Qualified Person
has not completed sufficient work to validate these historic results.
^^Grab samples are selective by nature and may not represent the true metal content 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 review: Cobalt. British Geological Survey.
**(Galloper Gold Corp.; Fage, 2022)
About Magna Terra
Magna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered
in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral
projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing
shareholder dilution through option and joint venture partnerships where appropriate; leveraging our
ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned
Humber Copper-Cobalt Project in Newfoundland and Labrador; our 100% owned Rocky Brook Gold and
Critical Metals Project in the historic Bathurst Mining Camp of New Brunswick; and our 100%-owned
Cape Spencer Gold Project in New Brunswick. In addition, the Company has optioned the Great
Northern Project in Newfoundland to Gold Hunter Resources Inc. ("Gold Hunter") for total cash and share
consideration of $9.5 million over a 2-year period, and currently holds an approximate 28.9% equity
interest in Gold Hunter. Further, the Company maintains a significant exploration portfolio in the province
of Santa Cruz, Argentina which includes its large 100% owned Boleadora Project recently retained from
Newmont Corp.; a precious metals discovery on its Luna Roja Project proximal to Cerrado Gold's
operating Don Nicholas Project infrastructure, as well as several additional district scale drill ready
projects available for purchase or option/joint venture.
Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian legislation. All statements in
this news release that are not purely historical are forward-looking statements and include statements
regarding beliefs, plans, expectations and orientations regarding the future including, without
limitation, the ability of the Company to file a report that complies with National Instrument 43-101.
Although the Company believes that such statements are reasonable and reflect expectations of
future developments and other factors which management believes to be reasonable and relevant,
the Company can give no assurance that such expectations will prove to be correct. Forward-looking
statements are typically identified by words such as: "believes", "expects", "anticipates", "intends",
"estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such
words and phrases and similar expressions, which, by their nature, refer to future events or results that
may, could, would, might or will occur or be taken or achieved. In making the forward-looking
statements in this news release, the Company has applied several material assumptions, including
without limitation, and the ability of the author of the Technical Reports to finalize same.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company to differ materially from
any future results, performance or achievements expressed or implied by the forward-looking
information. Such risks and other factors include the inability of the Company to execute its proposed
business plans and carry out planned future activities. Other factors may also adversely affect the
future results or performance of the Company, including general economic, market or business
conditions, future prices of gold, changes in the financial markets and in the demand for precious
metals, changes in laws, regulations and policies affecting the mineral exploration industry, and the
Company's investment and operation in the mineral exploration sector, as well as the risks and
uncertainties which are more fully described in the Company's annual and quarterly management's
discussion and analysis and in other filings made by the Company with Canadian securities
regulatory authorities under the Company's SEDAR+ profile at
www.sedarplus.ca
. Readers are
cautioned that forward-looking statements are not guarantees of future performance or events and,
accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent
uncertainty of such statements.
These forward-looking statements are made as of the date of this news release and, unless required
by applicable law, the Company assumes no obligation to update the forward-looking statements or to
update the reasons why actual results could differ from those projected in these forward-looking
statements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
647-478-5307
Email:
Website:
www.magnaterraminerals.com
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