Magna Terra Announces the Discovery of a Significant Shallow Disseminated GOLD and Silver System with First Drill Hole ON the Luna Roja Project.
a renewed frontier. TSX-V: MTT
MAGNA TERRA ANNOUNCES THE DISCOVERY OF A SIGNIFICANT SHALLOW
DISSEMINATED GOLD AND SILVER SYSTEM WITH FIRST DRILL HOLE ON THE
LUNA ROJA PROJECT.
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.
The Cruz del Sur Target
The Cruz del Sur target lies toward the southern end of the project, on the Via Lactea fault, and is
associated with Au soil an omalies on the southwestern edge of a major chargeable IP anomaly .
(see Figure 1a). On the surface, the target is associated with Acanthite bearing multi -phase
breccias, (see Figure 1b), and with a 25 m 0.1 g/t Au and 7.6 g/t Ag trench channel anomaly. The
target concept is further illustrated in Figure 2 where the trace of the hole cuts weak resistivity
associated with the Via Lactia Fault and ends in chargeability , which we now understand to be
related to disseminated sulphides in a dacitic dome.
The hole collared in ash tuff and encountered variable silicification with pyrite, arsenopyrite and
galena from 44 meters depth continuing to the end of the hole despite lithological changes. Figure
3 shows that the main Au/Ag bearing intercept starts within a felsic ash tuff and continues through
volcanic breccia and into a crystal lithic rhyolitic tuff. Sporadic low grade Au anomalies continue
however, within the underlying dacite dome and brecciated crystal lithic tuff. Collar data for the
program are included in Table 1 - assays for LR_DDH002 through LR_DDH008 are pending.
Assay results, over the 0.2 g/t cut off for Au, in LR_DDH001 are tabulated in Table 2.
As results arrive for the remaining 7 holes we will be l ooking out for zones of brecciation with
potential for high grade mineralization, which may supplement the disseminated mineralization.
Drill hole collar details
Hole Area x y z Azim Dip TD
LR_DDH001 Cruz del Sur 589080 4759260 236 90 45 203
LR_DDH002 Cruz del Sur 589040 4759400 240 90 45 215
LR_DDH003 Cruz del Sur 589320 4759400 247 90 65 173
LR_DDH004 Orion 589240 4760050 270 90 75 139
LR_DDH005 Orion 589100 4760050 269 270 60 142.5
LR_DDH006 Orion 589100 4760200 272 270 60 145.6
LR_DDH007 Estrella del Norte 588900 4760950 250 270 60 74
LR_DDH008 Estrella del Norte 588700 4760950 237 90 60 92
Drill assay results for DDH_001
Hole From To Length (m) Au (g/t) Ag (g/t)
LR_DDH001
Including:
44.6 96 51.4 0.26 9.7
LR_DDH001 62 64 2 1.08 79.6
Dr. Paul David Robinson, Vice President of Exploration, Commented, “This first of eight holes
on a property that has never been drilled before is highly encouraging. We have barely scratched
the surface of a very large hydrothermal system and have already shown the existence of Au and
Ag disseminations within the tuffs. As the program progresses, we will be looking to combine these
disseminations with potential zones of high grade in hydrothermal breccias.”
QAQC
Sampling was carried out with core being cut by angle grinder and half of the core retained for
logging and potential re -analysis. Blind standards, blanks, and duplicates were inserted into the
sample chain accounting for 10 % of samples. Samples were then delivered, by Magna Terra staff,
to Andesmar in Caleta Olivia, Santa Cruz, Argentina from where they were transported to ALS
Chemex Laboratories in Mendoza, Argentina, for gold fire assay and multi element analysis.
Qualified Person
All technical data disclosed in this press release has been verified by Magna Terra’s Qualified
Person, Paul D. Robinson Ph.D. and Certified Professional Geologist as recognized by the
Association of Professional Geoscientists of Ontario (APGO).
About Us
Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in
Toronto, Canada. Magna Terra (MTT) has a significant interest in the province of Santa Cruz,
Argentina within the prolific Deseado Massif in southern Patagonia. With five district scale drill
ready projects, and a highly experienced management and exploration team, MTT is positioned to
deliver significant shareholder value through the potential for precious metals discovery(s) on its
extensive portfolio. For detailed information regarding our projects, please visit the Company’s
website at: www.magnaterraminerals.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick, President & CEO: 647-478-5307
Email: [email protected]
Website: www.magnaterraminerals.com
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Statements Regarding Forward Looking Information
Some statements in this release may contain forward -looking information. All statements, other
than of historical fact, that address activities, events or developments that the Company believes,
expects or a nticipates will or may occur in the future (including, without limitation, statements
regarding potential mineralization) are forward-looking statements. Forward-looking statements
are generally identifiable by use of the words “may”, “will”, “should”, “co ntinue”, “expect”,
“anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words
or other variations on these words or comparable terminology. Forward -looking statements are
subject to a number of risks and uncertainties , many of which are beyond the Company’s ability
to control or predict, that may cause the actual results of the Company to differ materially from
those discussed in the forward -looking statements. Factors that could cause actual results or
events to diffe r materially from current expectations include, among other things, without
limitation, failure by the parties to complete the Transaction, failure to establish estimated mineral
resources, the possibility that future exploration results will not be consistent with the Company's
expectations, changes in world gold markets or markets for other commodities, and other risks
disclosed in the Company’s public disclosure record on file with the relevant securities regulatory
authorities. Any forward -looking statement speaks only as of the date on which it is made and
except as may be required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement.