A 7.2-Kilometer Gold Trend Just Became the Focus of a Major Airborne Survey

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Airborne Survey Begins Across 30-Kilometer New Brunswick Property

Magna Terra Minerals Inc. (MTT:TSXV; BRIOF:OTCPK) commenced a 1,221 line-kilometer helicopter-borne geophysical survey consisting of a time-domain electromagnetic, or VTEM Plus, survey and a horizontal magnetic gradiometer survey.

The 18,798-hectare Prospect Or's Dream Project extends along 30 kilometers of the prospective Moose Lake Fault Zone and is centered on a new gold discovery made in 2025. Low-sulphidation epithermal gold-bearing quartz veins have been identified within rhyolite, andesite, and granites over a minimum 7.2-kilometer strike length of the Donner Trend.

The new property-wide geophysical program consists of a time-domain electromagnetic, or VTEM Plus, survey and a horizontal magnetic gradiometer survey. Geotech Ltd. is completing the helicopter-borne survey at nominal 200-meter spacing in a north-south direction across the strike of the underlying geology, with perpendicular tie lines at two-kilometer spacing.

Magna Terra said the survey will provide baseline geophysical data to guide geological mapping and focus exploration efforts aimed at discovering epithermal gold, silver, and antimony deposits.

"We are pleased to undertake the airborne magnetic and electromagnetic survey at Prospect Or's Dream," President and CEO Lew Lawrick said. "This data, along with our ongoing prospecting work and planned soil geochemical surveys, will provide the Company with a strong dataset to help generate exploration targets within this early-stage land package."

The airborne work forms part of Magna Terra's Phase 1 2026 field program, which is designed to generate additional exploration targets for follow-up testing in the second half of 2026 and into 2027.

The company has collected 338 rock grab float and outcrop samples for gold and multi-element geochemical analysis. Assays have been returned for 264 samples, while results from the remaining samples are pending and are expected to be reported in a future news release.

Prospecting and geological mapping previously reported on August 20 identified additional areas containing epithermal quartz-sulphide veins. The work resulted in the staking of two additional claims totaling 2,875 hectares east and southeast of the Blitzen Prospect.

Rock grab samples returned gold assays of up to 1.97 g/t. Magna Terra also reported elevated mercury and tellurium values and vein textures that the company said supported the presence of a low-sulphidation epithermal environment.

"Our initial prospecting program, which generated assays with grades of up to 1.97 g/t gold from rock grab samples, has also been successful at identifying additional zones of epithermal quartz veins, leading to the expansion of the property package south and east of the Blitzen Prospect," Lawrick said.

According to the company, pathfinder elements, including silver, arsenic, antimony, tellurium, and mercury from quartz vein samples, are being used in its work to determine where individual target areas are positioned within the low-sulphidation epithermal model and to provide vectors toward potential higher-grade portions of the system.

Magna Terra said its initial geological observations, vein textures, host rocks, and indicator element signatures suggested that prospects sampled to date occur at a relatively high level in the typical low-sulphidation epithermal model of Buchanan (1981). The company said higher-grade precious metals are generally found deeper within these systems and are generally associated with quartz adularia veins. Ongoing work is intended to collect additional geological and geochemical information for vectoring within the epithermal systems exposed on the property.

The Province of New Brunswick provided partial financial assistance for work at Prospect Or's Dream through the New Brunswick Junior Mining Assistance Program.

The company also provided an update on drilling conducted by Gold Hunter Resources Inc. at Magna Terra's Great Northern Project in western Newfoundland. Magna Terra optioned Great Northern to Gold Hunter in June 2024 for total cash and share consideration of CA$10.075 million over four years.

Gold Hunter had planned a drill program of up to 10,000 meters. According to its September 28 announcement cited by Magna Terra, Gold Hunter ultimately completed 2,879 meters in 13 holes across six target areas: Kramer, the Thor and Viking trend intersection, Simms Ridge, Incinerator, Viking North, and Viking.

The drilling program concluded when expenditures reached the program budget because drilling costs per meter were substantially higher than estimates following changes to the program scope. Samples from all 13 holes have been submitted to ALS Geochemistry, with Gold Hunter expected to release results after they are received and reviewed by its Qualified Person.

Gold Sector Holds Above US$4,000 as Investors Weigh Inflation and Interest Rates

Gold traded at US$4,160.40 per ounce, up 0.06% on the day and 7.91% over the previous year, while remaining down 5.16% for the month. Trading Economics reported that gold had climbed toward US$4,200 as softer-than-expected U.S. PCE inflation data reduced expectations for a Federal Reserve interest rate increase in October. The source noted that "Gold climbed toward US$4,200 an ounce on Thursday, recovering losses from the previous session as softer-than-expected US PCE inflation data reduced expectations for a Federal Reserve interest rate hike this month."

MarketWatch reported on September 30 that gold's traditional safe-haven role had faced pressure during September as oil prices rose and inflation concerns increased. The publication wrote, "But in September, that playbook has not worked out." It reported that the yellow metal had declined during the month as oil prices increased and inflation concerns returned.

Atrium Research analysts Ben Pirie and Nicholas Cortellucci maintained their Buy rating on Magna Terra Minerals and increased their target price to CA$0.55 per share from CA$0.30. 

Also on September 30, Kitco News reported that Nitesh Shah, Head of Commodities and Macroeconomic Research at WisdomTree, had identified rising interest rates, elevated bond yields, and a stronger U.S. dollar as near-term obstacles for gold. Shah said, "Gold seems to have defied the bond market for a number of years now," while noting that the traditional relationship could reassert itself over shorter periods.

Shah also pointed to persistent inflation as underlying support for the gold market. Discussing the difference between market-based inflation expectations and consumer perceptions, he said, "People have become accustomed to more frequent shocks that are driving prices higher." He added that the gold market sat "a little bit closer to the broader consumer market in terms of psychology" than the investor market, where inflation expectations had remained relatively well anchored.

Looking beyond near-term monetary conditions, Shah also discussed sovereign debt and gold's role as an alternative monetary asset. "We know debts are unsustainable, and that's the narrative we've been talking about for gold markets for the last five-plus years," he said. While he described higher yields as negative for gold in the short term, he characterized the medium-term implications as "one of the most bullish stories for gold" of the decade. Shah expected gold to remain above US$4,000 per ounce through the rest of the year, although he cautioned that persistent bond-market headwinds could leave prices relatively flat.

Atrium Raises Magna Terra Target to CA$0.55, Maintains Buy Rating

In a September 24 research note, Atrium Research analysts Ben Pirie and Nicholas Cortellucci maintained their Buy rating on Magna Terra Minerals and increased their target price to CA$0.55 per share from CA$0.30. The analysts wrote, "We are maintaining our Buy rating and increasing our target price to CA$0.55/share (previously CA$0.30/share) on Magna Terra Minerals." The report stated that all figures were in Canadian dollars unless otherwise specified. 

Pirie and Cortellucci said their updated valuation reflected a re-rating of their Atlantic Canada peer group, the amended Gold Hunter agreement, and Magna Terra's acquisition of three projects in Argentina. They assigned CA$65.7 million to total mining assets and, after accounting for CA$7.1 million in cash and equivalents and no debt, calculated an equity value of CA$72.9 million. The resulting rounded target price was CA$0.55 per share.

The analysts also addressed Magna Terra's project generation model, writing, "The Company's project generation model has already secured over CA$5.8M in non-dilutive funding since 2019 and is expected to deliver an additional ~CA$7.1M through 2029 to fund core exploration initiatives." They also stated that Magna Terra "maintains strict cost control and a sustainable, non-dilutive funding strategy that minimizes shareholder dilution while advancing key exploration assets."

Atrium identified ongoing exploration programs at Magna Terra's Humber and Rocky Brook projects, along with ongoing cash and share payments from option agreements, as catalysts. The analysts wrote of Magna Terra's portfolio, "Whether the Company spins out these assets into a completely new vehicle or continues to execute on its cash-flowing project generation model, we believe MTT investors will eventually be rewarded."

Exploration Programs Set Up Next Steps Across Portfolio

At Prospect Or's Dream, Magna Terra's current Phase 1 field program is designed to generate additional exploration targets for follow-up testing later in 2026 and into 2027. The company has commenced a 1,221 line-kilometer helicopter-borne magnetic and electromagnetic survey, while planned soil geochemical surveys and ongoing prospecting are intended to contribute additional data for target generation. Assays also remain pending for 74 of the 338 rock grab float and outcrop samples collected to date.

Magna Terra's July 2026 corporate presentation also outlined exploration work at the Humber Copper-Cobalt Project in western Newfoundland. At the Birch Zone, copper mineralization had been mapped in outcrop over a 4.2-kilometer strike length, with grab samples returning up to 1.26% copper and 4.1 g/t silver. The zone was described as open for extension to the southwest and northeast, with a coincident magnetic-low geophysical signature indicating potential for an extension of more than three kilometers to the southwest.