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Magna Terra Minerals Announces start of drilling at the Piedra Negra Project
Executive Summary: The Company has commenced a first phase, 9 hole drill program comprising approximately 1,000 meters at the Piedra Negra Project, Santa Cruz P
About this update from Magna Terra Minerals Inc
[{"type":"text","content":" Executive Summary: The Company has commenced a first phase, 9 hole drill program comprising approximately 1,000 meters at the Piedra Negra Project, Santa Cruz Province, Argentina. Targets were identified using extensive rock chip sampling along with Ground Magnetic studies and Induced Polarization (IP) geophysics, defining mineralization over an area measuring 2 km by 700 m. Drill targets include structurally outcropping N-S striking veins, E-W striking dilatational zones and rhyolite hosted stockworks. The targets are within 30 km of the Vanguardia Gold Mine (Anglo Gold Ashanti) and mineralized outcrops occur adjacent to a road leading to that mine. TORONTO, Dec. 05, 2018 (GLOBE NEWSWIRE) -- Magna Terra Minerals Inc. (“Magna Terra” or the “Company”) (TSX-V: MTT) (SSE: MTTCL) is pleased to announce the commencement of drilling on the Piedra Negra Project in Santa Cruz Province, Argentina. The Piedra Negra Project (“Piedra Negra” or the “Project”) is located approximately 30 km N-NE of the Cerro Vanguardia gold mine (Anglo-Ashanti) and is accessible by a good unpaved road, from Tres Cerros, 32 km to the east (see figure 1). The Project is characterized by gold bearing, low sulphidation veins and stockworks, hosted in andesitic tuffs and rhyolitic domes of the Bajo Pobre and Chon Aike Formations respectively. The 460 select rock chip samples reported so far are distributed across an area measuring 2 km from north to south and between 200 and 700 m from east to west (see figure 2). Gold grade ranges up to 16.02 ppm with an average grade of 0.47 ppm including 189 samples over 0.1 ppm. Note that samples on the Project are selected samples, with spacing being determined by availability of outcrop and sub-crop and are not necessarily representative of the mineralization hosted on the Project. The principal target concepts are: N-S striking veins seen in outcrop and verified by IP resistivity. E-W striking dilatational structures defined from IP resistivity and magnetic lows. Stockworks and associated fluid traps in Rhyolitic domes seen in outcrop and verified with IP resistivity. The target area is divided, for the purposes of this campaign, into three target zones. From north to south, these are The Puyutano Dome, Vetas Hermanas, Piedra Negra Domes. Nine holes constituting approximately 1,000 m of drilling are planned for the fi...