Magna Terra Minerals Acquires Humber Copper-Cobalt Project in Newfoundland
Magna Terra Mineral has announced the acquisition of the Humber Copper-Cobalt Project, located in western Newfoundland, via staking. The Humber Project focuses on critical minerals and metals, comprising 1,325 claims across 10 mineral licenses, covering an area of 33,125 hectares.
The project area is characterized by rocks from the sedimentary Humber Arm Allochthon, which contain anomalous concentrations of copper (Cu), cobalt (Co), lead (Pb), silver (Ag), molybdenum (Mo), gold (Au), arsenic (As), and antimony (Sb) in lake sediments. This metal signature, along with the geological environment, suggests the presence of Sediment-hosted Stratiform Copper (SSC) deposits. Globally, SSC deposits account for 60% of cobalt production and 20% of copper production, with notable examples including the Central African Copper Belt.
Humber Project Highlights:
- Exploration Potential: The project has significant potential for discovering copper-cobalt deposits.
- Anomalous Sediments: It features regionally anomalous Cu, Co, Ag, Pb +/- Au, Mo, As, and Sb lake sediments.
- Geological Analogues: The area is geologically similar to the Kalahari Copper Belt in Namibia and Botswana, the Central African Copper Belt in Zambia and the DRC, and the Kupferschiefer Belt in Poland.
- Strategic Land Package: Comprising 33,125 hectares in Newfoundland and Labrador, a top-tier mining jurisdiction.
- Accessibility: The project has year-round road access to most areas.
- Cost-Effective Acquisition: Acquired through staking, ensuring a cost-effective acquisition with no royalties or option payments.
