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Magna Gold Corp.
Summary
| Project: | Mercedes | |
|---|---|---|
| Deposit: | Mercedes | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 10/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-10-2019: Magna Gold Corp. announces an Exploration/Drilling Update report for its Mercedes deposit at the Mercedes project. Drilling results incl. 118.87m @ 0.46g/t Au, 42.59g/t Ag from 0.00m. TORONTO and NEW YORK, October 15, 2019 -- Magna Gold Corp. | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dale Brittliffe (Not stated) | |
| ABSTRACT: | TORONTO and NEW YORK, October 15, 2019 -- Magna Gold Corp. (TSXV: MGR, OTCQB: MGLQF) (“Magna” or the “Corporation”), provides an update report on its ongoing drill and exploration program on its Mercedes Property in the State of Sonora, Mexico. These results represent 2,219 meters of reverse circulation drilling in 17 holes and an extensive reconnaissance program covering approximately 500 hectares including the collection and assaying of 392 samples resulting in the identification of at least seven new significant mineralized targets (see Figure 1). More than seven kilometers of access roads were built. Arturo Bonillas, President and CEO commented: “We are pleased with the results of our initial exploration program from which we are confirming the presence of new mineralized areas as uncovered by drilling and exploration reconnaissance. Work programs will now focus on expanding the mineralized extension on La Lamosa ridge and defining drill objectives on the new targets within our claims.” Drill results to date have confirmed, as suggested by historical drilling, the existence of an oxidized zone of disseminated gold and silver mineralization extending for almost 300 meters and identifying the presence of vuggy silica, coarse grained-sericite indicative of a high sulfidation epithermal system. These results show that mineralization is closely associated to an intrusive felsic rock and at its contact with the andesitic sequence (see Figures 2, 3 and 4). All these evidences indicate that gold and silver mineralization continue open at depth, to the SW (still being drilled), and to the East along of the NE-E structural trend. | |
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