Magna Terra Identifies Numerous Additional Exploration Targets at the 2.4 Kilometre Jacksons Arm Trend, Great Northern Project; Expands Property Package
MAGNA TERRA IDENTIFIES NUMEROUS ADDITIONAL EXPLORATION
TARGETS AT THE 2.4 KILOMETRE JACKSONS ARM TREND, GREAT NORTHERN
PROJECT; EXPANDS PROPERTY PACKAGE
Toronto, Ontario – February 4, 2021 – Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V:
MTT) is pleased to announce additional results from a systematic exploration program (the “Exploration Program”)
at its 100% owned Great Northern Gold Project (“Great Northern”), located in western Newfoundland. The
Exploration Program was focused on the Jacksons Arm Trend, an extensive altered and mineralized geological
corridor that has not been previously explored, and included geological mapping, prospecting, soil sampling as well
as Light Detection and Ranging (“LiDAR”) and Induced Polarization (“IP”) and Magnetic geophysical surveys. The
Company also initiated a first phase 1,600 metre diamond drill program within a portion of the Jacksons Arm Trend
with results pending. Additionally, the Company has extended its property size southward along the Jacksons Arm
Trend based on the success of the Exploration Program to date.
As announced on October 15th, 2020 the Company has extended the strike of the Jacksons Arm Trend by 40% to 2.4
kilometres and collected numerous gold-bearing grab and float samples during the mapping and prospecting program
(Exhibit A). Analysis of recently acquired LiDAR and IP and Magnetic geophysical data demonstrates that the
previously announced mapped alteration zones, structures and gold samples are coincident with geophysical anomalies
(Exhibit B and C).
Exploration Highlights
• 700 metre extension of alteration and mineralized zones to the southeast – now to 2.4 kilometres strike length;
• Grab samples* up to 26.90 grams per tonne (“g/t”) gold confirming results of previous sampling;
• 24 of 114 grab and float samples assaying between 0.10 g/t and 26.90 g/t gold;
• Identification of key geological environments and structures, along strike to the north and east, that form
favourable hosts for gold mineralization;
• Identification of numerous IP chargeability and magnetic anomalies coincident with mapped alteration zones
and mineralized structures; and
• Based on these results the Company acquired additional claims to the immediate south of the Jacksons Arm
Trend.
*Grab samples are selected samples and are not necessarily indicative of mineralization that may be hosted on the property.
“The coincidence of IP chargeability and magnetic anomalies with mapped surface mineralization, alteration and
structure is significant because it indicates the presence of sulphides near surface. Our mapping and prospecting has
demonstrated that gold is closely associated with sulphides similar to other deposits within the region. We view this
positive correlation between mineralized samples, alteration , structures and the geophysical dataset as a positive
indicator of prospectivity and will use this information with the soil geochemical data, once available, to determine if
there may be other prospective areas not recognized through surface exposure. The results to date, with the scale of
the alteration system observed in this previously unexplored area, has provided numerous additional priority targets
for follow-up drilling this year, beyond the recently completed phase one 1,600 metre drill program.”
~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.
Exploration Program
The Exploration Program comprised flying a LiDAR survey of the e ntire Great Northern Project, 52 k ilometres of
line-cutting, ~30 line kilometres of geological mapping and prospecting, 51 line kilo metres of ground IP surveying
and 59 line kilometres of ground magnetic surveying, collection of 114 rock samples (63 rock samples previously
reported in a press release dated October 15, 2020) and 1,284 soil samples. The program was designed to test the
potential extension of the Jacksons Arm Trend where i t remains open to the north along strike and to the east along
the folded contact between the faulted granite and volcanic/sedimentary contact (Exhibit A).
LiDAR Survey, Geological Mapping and Prospecting
An airborne LiDAR survey was completed over the Great Northern Project area and used to identify and interpret key
bedrock structural features that represent favourable hosts to gold mineralization including a series of NNE striking
fault zones with coincident IP chargeability and magnetic gradient anomalies.
As reported in a news release dated October 15, 2020, assays were received for 63 samples out of a total of 114 with
assays from grab and float samples up to 26.90 g/t gold and 19 of 63 samples assaying greater than 0.10 g/ t gold.
Results have been received for the remaining 51 grab and float samples with assays up to 2.71 g/t gold, with 5 of 51
samples assaying greater than 0.1 g/t gold (Exhibit A).
Geological mapping and prospecting ha ve confirmed gold grade and loc ation of mineralization from previous
sampling in addition to extending the strike of exposed alteration and gold mineralization by 700 metres southeast.
The Jacksons Arm Trend now has an extent of 2. 4 kilometres and remains open to the north along strike and to the
east along the folded contact between the faulted granite and volcanic/sedimentary contact (Exhibit A).
Ground Magnetics and Induced Polarization Geophysical Surveys
Magna Terra contracted Abitibi Geophysics (“Abitibi”) to complete an OreVision® 2D ground IP and magnetics
survey at Jacksons Arm. The IP and magnetic surveys were completed between October 3rd and November 19th, 2020
and comprised 51 line kilometres of 2-dimensional time-domain dipole-dipole survey at 25 metre dipole spacing (a=25
m), n=1 to 10. The survey was completed on east -west oriented lines spaced 100 m etres apart and extended on a
previous survey complete by Metals Creek Resources nearly a decade prior. Abitibi also completed a 59 line kilometre
ground magnetic survey over the same east-west grid lines.
Numerous IP chargeability anomalies were identified on the property which may reflect sulphide mineralization and
associated alteration within the host rocks. These anomalies are often associated with the major lithological contacts
and shear zones as well as late crosscutting faults across the property, often associated with anomalous rock samples
(Exhibit B). Specifically, anomalies are associated with the targeted granite and volcanic/sedimentary contact north
along strike and to the east along the folded contact adjacent to the Jacksons Arm Trend. Numerous other anomalies
have been identified in the grid area.
Ground magnetic data shows a strong coincidence between anomalous rock and soil samples and z ones of strong
magnetic contrast, that likely represent lithological contacts and or zones of magnetic destruction associated with
alteration (Exhibit C). Similar to the IP survey data, zones of magnetic contrast are associated with the deformed
granite/sedimentary contact to the north and east of the Jacksons Arm Trend.
Soil Sampling
A total of 1,284 B-horizon soil samples were collected on the east-west grid and covering the northern and eastern
extend of the Jacksons Arm Trend. The soils were collected at 25 metre spacing along lines spaced 100 metres apart.
Samples have been submitted to Eastern Analytical Limited in Springdale, NL for gold and 34-element ICP analysis.
Results are pending and will be presented in a follow-up news release in the near future.
Property Expansion
The early results of the Exploration Program has encouraged the Company to acquire an additional 600 hectares of
ground to the immediate south of the Jacksons Arm Trend via map staking. The expanded land package covers the
southern extension of prospective geology, geophysical and geochemical anomalies.
Pandemic Considerations
The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this
Exploration Program and all future programs are executed in a way that ensures the absolute health and safety of our
personnel, contractors, and the communities where we operate.
The Company would like t o thank the Government of Newfoundland and Labrador for partial funding of the
exploration program under the Junior Exploration Assistance Program.
Qualified Person and Technical Reports
This news release has been reviewed and approved by David A. Copeland, P. Geo., Chief Geologist with Anaconda
Mining Inc., a "Qualified Person", under National Instrument 43-101 - Standard for Disclosure for Mineral Projects.
Rock samples were analyzed for gold at Eastern Analytical Ltd. in Springdale, NL ("Eastern"), using standard fire
assay (30 g) pre -concentration and Atomic Absorption finish methods. Eastern is a fully accredited firm within the
meaning of NI 43-101 for provision of this service.
“Grab samples” are selected samples and are not necessarily indicative of mineralization that may be hosted on the
property.
About Magna Terra
Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in Toronto, Canada.
Magna Terra owns three district-scale, advanced gold exploration projects in the world class mining jurisdictions of
New Brunswick and Newfoundland and Labrador. Further, the Company maintains a significant exploration portfolio
in the province of Santa Cruz, Argentina which in cludes its precious metals discovery on its Luna Roja Project, as
well as an extensive portfolio of district scale drill ready projects available for option or joint venture.
Forward Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the 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 anticipates 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”,
“continue”, “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 differ materially from current expectations include, among other
things, without l imitation, 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
647-478-5307
Email: [email protected]
Website: www.magnaterraminerals.com
Exhibit A: Geology and Rock Sample Map of the Jacksons Arm Trend with LiDAR background, showing current
extent of the 2.4 km long alteration zone.
Exhibit B: Ground IP Chargeability Map at Jacksons Arm Trend, Great Northern Project showing the coincidence
of IP Chargeability anomalies with the Jacksons Arm Trend with key mineralizing structures, alteration systems and
surface mineralization.
Exhibit C: Ground Magnetic Contour Map, Jacksons Arm Trend, Great Northern Project showing the coincidence
of magnetic anomalies within the Jacksons Arm Trend with key mineralizing structures, alteration systems and
surface mineralization.