Magna Terra Minerals Inc. (TSXV: MTT) recently provided updates on a sixteen-hole diamond drilling campaign conducted by its partner, Lunex Metals Corp., at the Luna Roja project in Santa Cruz, Argentina. The 2,517.5-metre program focused on testing targets along the 2.8-kilometre-long Vía Láctea structural corridor. Highlighting the results, hole LR_DDH13 intersected 24.6 metres grading 0.96 g/t gold and 1.51 g/t silver, including a 9.1-metre interval returning 2.16 g/t gold. These findings confirm the presence of a substantial, structurally controlled epithermal system across the site, with mineralization observed in nearly every hole drilled.

"Importantly, the results obtained to date suggest that gold and silver mineralization at Cruz del Sur remains open both toward the north and at depth."
— Joaquin Mignaquy, CEO, Lunex Metals Corp.

The drilling at Cruz del Sur successfully encountered broad zones of silicification, brecciation, and quartz-sulphide stockwork veining, indicating the fault system acts as a primary feeder for hydrothermal fluids. Furthermore, work at the Estrella del Norte target—located roughly two kilometres north of Cruz del Sur—confirmed a second mineralized center within the corridor. Geologists noted that elevated arsenic and mercury levels found in the core are characteristic of the upper portions of preserved low-sulphidation systems, suggesting the potential for deeper, high-grade deposits remains intact. The results effectively validate the project’s current geological model while extending the known mineralized footprint.

"While still early days, this preliminary drill program confirms that there is a potentially significant epithermal gold system present at Luna Roja, and we look very forward to Lunex's continued work 'unlocking' this potential."
— Lew Lawrick, President and CEO, Magna Terra Minerals Inc.

Beyond the initial drilling, Lunex recently finished a 330-line kilometre ground magnetic survey across 6,500 hectares of the project area. This geophysical data helped identify multiple satellite targets, including Omega, Signos, and Alfa, which remain largely untested. The integration of this survey data with current drill intercepts has sharpened the company's understanding of the district’s structural complexity, providing clear geometry to guide upcoming exploration activities. The work suggests that the Vía Láctea corridor is not an isolated occurrence but part of a larger, interconnected hydrothermal system with significant room for expansion.

Moving forward, the partners have outlined a multi-faceted exploration strategy to build upon these early successes. Immediate efforts include the systematic cutting and assaying of previously unsampled core intervals identified within the 2026 drill program, with results expected once validations are complete. Longer-term priorities involve follow-up drilling designed to expand the known mineralization at the Cruz del Sur target and further testing of the system’s depth potential. These initiatives aim to better define the structural controls on the high-grade zones encountered to date and evaluate the broader potential of the identified satellite targets across the property.

Read the full announcement: Magna Terra Partner Lunex Metals Advances Exploration and Reports Results from Initial Drill Program at the Luna Roja Project in Santa Cruz, Argentina