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Magna Terra Completes 100% Earn-In on the Cape Spencer Project, New Brunswick
Toronto, Ontario--(Newsfile Corp. - September 4, 2025) - Magna Terra Minerals Inc. (TSXV: MT...
About this update from Magna Terra Minerals Inc
[{"type":"text","content":"Magna Terra Completes 100% Earn-In on the Cape Spencer Project, New BrunswickToronto, Ontario--(Newsfile Corp. - September 4, 2025) - Magna Terra Minerals Inc. (TSXV: MTT) (the \"Company\" or \"Magna Terra\") is pleased to announce that it has completed its final option payments on two separate option agreements, the Cape Spencer and Marigold options, on the greater Cape Spencer Project located in southern New Brunswick and now owns a 100% interest in the property. \"The Cape Spencer Project represents a unique opportunity for Magna Terra shareholders to participate in the discovery upside of an emerging gold play in southern New Brunswick. The recent and ongoing work by Galway Metals to advance the nearby Clarence Stream Project highlights the significant potential of this region to host large gold deposits. We are very pleased to have secured a 100% interest in the Cape Spencer Project as it provides additional optionality within our deep project portfolio, to an exceptional gold exploration play in a premier jurisdiction in this environment of rapidly rising precious metals prices.\" ~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.Cape Spencer Project Highlights5,089 hectares along 15 kilometres of strike of a regional-scale gold bearing structure - the Millican Lake Fault and associated structures;Newly expanded Project is host to large untested gold bearing alteration systems including:2.5-kilometre alteration and gold bearing Emilio Trend with drill intercepts up to 7.86 g/t gold over 7.4 metres;Marigold Prospect with drill intercepts up to 8.71 g/t gold over 2 metres (core length; true width unknown);Birches Zone with drill intercepts up to 5.23 g/t gold over 4.0 metres (core length; true width unknown);The Cape Spencer Deposit has an Inferred Mineral Resource Estimate of 1,720,000 tonnes at an average grade of 2.72 g/t gold for 151,000 contained ounces in two zones:Northeast Zone - Inferred Mineral Resource of 740,000 tonnes at an average grade of 4.07 g/t gold, for 96,000 contained ounces at a cut-off grade of 2.5 g/t gold in a conceptual underground development; andPit Zone - Inferred Mineral Resource of 990,000 tonnes at an average grade of 1.71 g/t gold, for 54,000 contained ounces at a cut-off grade of 0.5 g/t gold in a conceptual open pit.Hosted within similar Proterozoic-aged rocks of the Aval...