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Magna Terra Minerals Inc.
Summary
| Project: | Luna Roja | |
|---|---|---|
| Deposit: | Luna Roja | |
| Location: | Argentina | |
| Commodities: | Gold-Silver | |
| Date: | 3/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-3-2019: Magna Terra Minerals Inc. announces an Exploration/Drilling Update report for its Luna Roja deposit at the Luna Roja project. Drilling results incl. 51.40m @ 0.26g/t Au, 9.7g/t Ag from 44.6m. Toronto, Ontario, March 3, 2019 – Magna Terra Mineral | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Paul Robinson (Internal) | |
| ABSTRACT: | Toronto, Ontario, March 3, 2019 – Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) (SSE: MTTCL) is pleased to announce assay results from the first hole of an 8 hole (1,184 meter) first phase drill program on its Luna Roja Project in Santa Cruz Province, Argentina announced on January 14, 2019 and completed on January 31, 2019. The program was designed to test 3 target areas – Cruz Del Sur, Orion, and Estrella del Norte covering an approximate strike length of 1.8 km. This hole tested the Cruz del Sur target zone at the southern end of a 3 km long structural corridor. Assays are pending for the further 7 holes drilled in this program. Executive Summary Drill hole LR_DDH001 intersected 51.4 m of 0.26 grams per tonne (“g/t”) Au and 9.37 g/t Ag at a depth of 44.6 to 96.0 m. Included in this intercept are 2.0 m of 1.08 g/t Au and 79.60 g/t Ag at a depth of 62.0 to 64.0 m. The gold and silver mineralization is associated with disseminated sulphides in hydrothermally altered felsic to intermediate volcanics. Visual assessment of the core from the remaining seven drill-holes indicate wide intercepts of sulphides in altered volcanic rocks, which may have the potential to carry significant precious metal values. The Luna Roja Project is situated in the Santa Cruz Province of Argentina on the northern edge of the Deseado Massif. The project is composed of three main zones, Cruz del Sur, Orion, and Estrella del Norte, which between them constitute a NNW striking, 3-km-long structural corridor of semi-continuous low-sulphidation Au and Ag mineralization. On the surface, as intersected in trench channels, mineralization occurs in veinlets and breccias. Trenches 1 and 2 reported 25 meters of 0.1 g/t Au with 7.6 g/t Ag and 55 meters of 0.41 g/t Au and 13.2 g/t Ag respectively. This surface mineralization overlies and occurs adjacent to large chargeable and resistive anomalies at depth, indicating the potential for a large disseminated mineralized body. The Cruz del Sur target occurs at the southern end of these geophysical anomalies and the LR_DDH001 is the first of 3 holes in this target area. | |
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