Newmont outlines large epithermal geochemical target at Boleadora

Magna Terra Minerals announced through its 100% owned Argentine subsidiary Atala Resources, that Oroplata, a subsidiary of Newmont Corporation, has provided a detailed summary report of its 2023 exploration program undertaken to date on the Boleadora Project. In addition, Oroplata has made the third anniversary option payment of $150,000 to Atala under the option agreement. Boleadora encompasses ~55,000 hectares in 12 exploration licenses located 17 kilometres southeast along strike from Newmont’s Cerro Negro mine along the Margaritas-Boleadoras Corridor, the host to both projects located in Santa Cruz Province, Argentina. Based on 2023 fieldwork, Newmont has identified a 10 by 8 kilometre priority target area, corresponding with previously identified zones 1, 2 and 3 along the Margaritas-Boleadoras Corridor. Assay results from 2023 drainage sediment and rock-chip samples show that anomalous precious metals and pathfinder elements are associated with silica alteration, host fault zones, sinter structures and subtle hyperspectral responses that are indicative of deeper hydrothermal activity and gold mineralization at the Cerro Negro mine. Based on the recent field work, Newmont plans further follow-up exploration activities for 2024.