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Magna Terra Minerals Announces Encouraging Drill Intercepts on the Elizabeth, Emily and Valentina Veins of the Piedra Negra Project
TORONTO, March 19, 2019 (GLOBE NEWSWIRE) -- Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) (SSE: MTTCL) is pleased to announce results
About this update from Magna Terra Minerals Inc
[{"type":"text","content":" TORONTO, March 19, 2019 (GLOBE NEWSWIRE) -- Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) (SSE: MTTCL) is pleased to announce results from a ten hole, 860 meter, diamond drill campaign on the Piedra Negra project in the Santa Cruz Province of Argentina. The project is within 30 km of the Vanguardia Gold Mine (Anglo Gold Ashanti - see figure 1). The drill program was completed in December 2018. Assays for holes PN_DDH001 through 9 have recently been received. Executive Summary:The Company has completed a first phase drill program at its Piedra Negra Project, Santa Cruz Province, Argentina. Drill hole PN_DDH006 intersected 2.0 m of 0.655 g/t Au (from m 14 to 16) and then 1.0 m of 0.18 g/t Au (from m 26 to 27) (Table 2). The hole collared in argillized tuffs, and after 14 m, cut low sulphidation vein material. Further anomalous intercepts are reported in Holes PN_DDH001, 2, 4 and 7 and occur over an area of 700 by 500 m in the Vetas Hermanas and Puyutano Dome areas. The Piedra Negra project is composed of four areas which we term, Puyutano Dome, Vetas Hermanas (including the Brunella, Emily, Valentina and Jazmin veins), Vetas Ocultas and Domos de Piedra Negra. These areas are illustrated with geology and surface rock chip Au in Figure 2. In this campaign we partially tested the Elizabeth vein at the southern edge of the Puyatano Dome Area. We also tested the Vetas Hermanas Area and the Domos de Piedra Negra down to around 100 m. The Vetas Ocultas Area remains un-tested. Collar data for the campaign are provided in Table 1 and illustrated relative to Induced Polarization at 90 m depth in Figure 3. Chalcedonic silica in Au bearing intercepts along with a pervasive Illite Sericite alteration, combine to indicate that the drilling was restricted to the upper part of a low sulphidation epithermal system, implying further target potential at depth. Additionally, strong Hg anomalies, between 2 and 4 ppm in PN_DDH008 appear to form part of a regional pattern which relates the Piedra Negra Veins to the discovery vein at the Company’s Covadonga Project, 9 km to the West. Piedra Negra Intercepts Puyutano Dome AreaHoles PN_DDH001 and 2 on the Elizabeth Vein reported 2.1 m of 0.24 g/t Au and 4 m of 0.135 g/t respectively. Whilst the intercepts are sub- economic, see Table 2, these holes were altered throughout most of...