Business
Magna Terra Minerals Reports Encouraging Sample Results on Newly Discovered Piedra Negra Project
TORONTO, ONTARIO--(Marketwired - June 29, 2017) - Magna Terra Minerals Inc. ("Magna Terra" or the "Company") (TSX VENTURE:MTT) is pleased to announce that gener
About this update from Magna Terra Minerals Inc
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - June 29, 2017) - Magna Terra Minerals Inc. (\"Magna Terra\" or the \"Company\") (TSX VENTURE:MTT) is pleased to announce that generative efforts have resulted in the discovery of encouraging surface gold mineralization on a new low sulphidation epithermal vein style project in the Deseado Massif region of 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). The Project 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 356 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 13.35 ppm with an average grade of 0.397 ppm. There are 250 samples equal to or above detection for gold, 150 of which are greater than or equal to 0.1 ppm. Note that samples on this 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 property. There are four mineralized zones which vary significantly in character in terms of geology and mineralization. The Vetas Hermanas zone includes the site of the initial discovery and is characterized by 1,000 meters of low sulphidation, banded, crustiform and cockade texture veins which are hosted in ash tuffs and andesitic tuffs. The veins in this zone vary in strike between 350° to 20°, and are intermittent, with sampling being based on interpolation of outcrops into areas of sub crop and float. Results from 121 samples reported from veins and breccias in the area range from detection to Au 8.23 ppm with an average grade of 0.616 ppm. There are 4 veins of interest in this zone, The Emily Vein, Valentina Vein, Brunella Vein and Jasmin Vein. Emily and Valentina strike N-S whereas Jasmin strikes NNE and Brunella is irregular in strike appearing to skirt the flank of a dome. The Domo Puyutano Zone, to the north of the Vetas Hermanas, is characterized by low sulphidation veins i...