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Magna Terra Minerals Inc.
Summary
| Project: | Cape Spencer | |
|---|---|---|
| Deposit: | Cape Spencer | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/3/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-12-2019: Magna Terra Minerals Inc. announces a Resource Estimation report for its Cape Spencer deposit at the Cape Spencer project. Mineral resource estimate for Cape Spencer project. Toronto, Ontario, December 3, 2019 – Magna Terra Minerals Inc. (the “ | |
| Resources: | (Resource, Inf.): 1.720Mt @ 2.72g/t Au for 151Koz Au | |
| CP/QP: | [Resources]: Michael Cullen, Matthew Harrington (Mercator Geological Services Ltd.) | |
| ABSTRACT: | Toronto, Ontario, December 3, 2019 – Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) is pleased to announce it has completed updated NI 43-101 Technical Reports and Mineral Resource Estimates for the Rattling Brook Deposit (“Rattling Brook”) of the Great Northern Project (“Great Northern”) in Newfoundland and Labrador and for the Cape Spencer Project (“Cape Spencer”) in New Brunswick. Cape Spencer and Great Northern, together make up the advanced exploration assets that Magna Terra is acquiring from Anaconda Mining Inc. (“Anaconda”) as previously announced (see news release dated October 15, 2019 for more details). Magna Terra and Anaconda have entered into a share purchase agreement (the “SPA”) whereby Magna Terra proposes to acquire all of the issued and outstanding common shares of 2647102 Ontario Inc. (“ExploreCo”) from Anaconda (the “Acquisition”). ExploreCo owns a 100% interest in the Cape Spencer Project situated in New Brunswick and the Great Northern and Viking Projects (the “ExploreCo Assets”) situated in Newfoundland and Labrador (more details on each project provided below). | |
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