Magna Terra Minerals Inc. and Newmont Corporation Advance Exploration at Boleadora Project, Argentina

Magna Terra Minerals Inc., in an official announcement on March 26, 2024, highlighted significant strides in its Boleadora Project exploration efforts, led by Newmont Corporation's subsidiary, Oroplata S.A. The project encompasses approximately 55,000 hectares within the Santa Cruz Province, Argentina, showcasing a promising 10 by 8-kilometer epithermal gold and silver target area backed by Oroplata's detailed exploration summary for 2023.

Newmont's exploration has identified anomalous zones rich in precious metals and pathfinder elements, suggesting a strong potential for low-sulphidation epithermal gold deposits, akin to the nearby Cerro Negro mine. The project benefits from its strategic location along the Margaritas-Boleadoras Corridor, further accentuated by its geological setting conducive to significant epithermal mineralization. Newmont's ongoing commitment, evidenced by a US$150,000 option payment to Magna Terra’s Argentine subsidiary Atala, secures the exploration momentum into 2024.

Lew Lawrick, President and CEO of Magna Terra, expressed satisfaction with the progression of the Boleadora Project, emphasizing the seamless collaboration with Newmont. He underscored the potential for the identified zone to enrich the understanding and exploration of this underexplored region. Planned activities aim to refine targets for drill testing, advancing the project's overall development.

The exploration partnership between Magna Terra and Newmont underlines a combined effort to unearth the latent potential of the Boleadora Project. With both companies leveraging their expertise and resources, the endeavor sets a proactive exploration blueprint hoping to bolster the region's mining profile.