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Magna Terra Drilling Intersects Broad Zones of Alteration and Gold Mineralization at the 2.4 Kilometre Jacksons Arm Trend, Great Northern Project
TORONTO, ON / ACCESSWIRE / February 18, 2021 / Magna Terra Minerals Inc. (the "Company" or "...
About this update from Magna Terra Minerals Inc
[{"type":"text","content":"Magna Terra Drilling Intersects Broad Zones of Alteration and Gold Mineralization at the 2.4 Kilometre Jacksons Arm Trend, Great Northern ProjectTORONTO, ON / ACCESSWIRE / February 18, 2021 / Magna Terra Minerals Inc. (the \"Company\" or \"Magna Terra\") (TSXV:MTT) is pleased to announce results from an initial 1,598 metre diamond drilling program (the \"Phase 1 Drill Program\") at the Jacksons Arm Trend on its 100% owned Great Northern Gold Project (\"Great Northern\"), located in western Newfoundland.The Phase 1 Drill Program formed part of a larger systematic exploration program focused on the Jacksons Arm Trend, a 2.4 kilometre long, previously unexplored, altered and mineralized geological corridor and included geological mapping, prospecting, soil sampling as well as Light Detection and Ranging (\"LiDAR\"), Induced Polarization (\"IP\"), and Magnetic geophysical surveys (the \"Exploration Program\"). Exploration to date has identified numerous anomalous geochemical, geological and geophysical targets as outlined in the press releases dated February 4 and 11, 2021 that form priority drill targets to be tested in 2021 (Exhibit A).\"This first pass drill program targeting surface anomalies within the Jacksons Arm Trend has confirmed that we are in a large alteration and gold mineralizing system. Each hole was successful in intersecting broad zones of alteration and low-grade gold mineralization that are punctuated by higher grade intercepts, which is comparable to preliminary drill results encountered at early stages of exploration at many gold deposits. The geological setting, nature and scale of the host alteration zone is reminiscent of Marathon's Valentine Lake Gold Deposit. The Phase 1 Drill Program has only tested a small section of the overall Jacksons Arm Trend, and as a result of our systematic work program to date we have identified numerous high priority drill targets for follow-up drill testing in a Phase 2 Drill Program planned for 2021. It is important to note that the Jacksons Arm Trend makes up only a small part of the Great Northern Property package, which is anchored by a NI 43-101 compliant 255,000 oz inferred mineral resource at the Rattling Brook Deposit^^ - 4 kilometres southwest of Jacksons Arm, along a 20 kilometres section of the Doucer's Valley Fault. We made a calculated decision to pursue potential...