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Magna Terra Stakes the 8 KM Long Hughes Lake Copper-Cobalt Trend at the Humber Project and Increases Property Size by 23%
TORONTO, ON / ACCESSWIRE / October 29, 2024 / Magna Terra Minerals Inc . (the " Company " or " ...
About this update from Magna Terra Minerals Inc
[{"type":"text","content":"Magna Terra Stakes the 8 KM Long Hughes Lake Copper-Cobalt Trend at the Humber Project and Increases Property Size by 23%TORONTO, ON / ACCESSWIRE / October 29, 2024 / Magna Terra Minerals Inc. (the \"Company\" or \"Magna Terra\") (TSXV:MTT) is pleased to announce that it has acquired via staking two additional mineral licences comprising 7,550 hectares (the \"Hughes Lake Block\") expanding the Humber Copper-Cobalt Project (the \"Humber Project\" or the \"Project\") located in western Newfoundland by 23%. The Humber Project is an exploration project focused on critical minerals and metals and now comprises 1,627 claims in 12 mineral licences covering a total area of 40,675 hectares (Figure 1). The Project is underlain by rocks of the sedimentary Humber Arm Allochthon and adjacent plutonic and volcanic Hughes Lake Complex, which are host to coincident anomalous copper (Cu), cobalt (Co), lead (Pb), silver (Ag), molybdenum (Mo), gold (Au), arsenic (As), and antimony (Sb) lake sediment values (Figures 1 and 2).The newly staked licences cover the Hughes Lake Trend defined by an 8 km long anomalous zone of copper and cobalt in soil samples that is coincident with mafic volcanic rocks of the Hughes Lake Complex and associated magnetic rocks. Importantly, historic soil samples** assay up to 524 ppm Copper with 17 of 646 (2.6 %) samples assaying >75 ppm Copper and 33 of 646 (5%) samples assaying >50 ppm. Soil samples** assay up to 111 ppm Cobalt with 12 of 646 (1.8%) samples assaying > 50 ppm Cobalt and 26 of 646 samples (4%) assaying > 25 ppm Cobalt (Figures 3 and 4).Humber Project HighlightsPotential 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 top-tier 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 ...