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Magna Terra Minerals Reports Final Assays From First Phase Drilling on the 100% Owned Luna Roja Project
TORONTO, June 19, 2019 (GLOBE NEWSWIRE) -- Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) (SSE: MTTCL) is pleased to announce complete
About this update from Magna Terra Minerals Inc
[{"type":"text","content":" TORONTO, June 19, 2019 (GLOBE NEWSWIRE) -- Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) (SSE: MTTCL) is pleased to announce complete assay results from an eight hole (1,184 meter) first phase drill program on its Luna Roja Project in Santa Cruz Province, Argentina. The drilling began on January 12, 2019 and was completed on January 31. The program was designed to test three target areas – Cruz Del Sur, Orion and Estrella del Norte, which constitute a mineralized surface footprint of approximately three kilometers by one kilometer. Assays have been received from three holes in the Cruz del Sur Target area, three from the Orion area and two from the Estrella del Norte area. Drill hole LR_DDH001 intersected 51.4 m of 0.26 g/t Au and 9.37 g/t Ag at a depth of 44.6 to 96.0 m. Included in this intercept are 2.0 m of 1.08 g/t Au and 79.60 g/t Ag at a depth of 62.0 to 64.0 m. Drill hole LR_DDH002 intersected 75.0 m of 0.62 g/t Au and 5.6 g/t Ag (from 37.0 m to 112.0 m). The deepest part of the zone, which is oxidized, included 42.0 m of 1.01 g/t Au and 4.6 g/t Ag (from 68.0 m to 110.0 m - Table 1), indicating increased grade with depth. Drill hole LR_DDH006 intersected 15.6 m of 0.11 g/t Au and 0.81 g/t Ag (from 130.0 m to 145.60 m). The 15.6 m sample is at the bottom of the hole, indicating mineralization to be potentially open at depth. “These results represent the first, very successful drill campaign, on the Luna Roja Project, where we tested a variety of target types and have firmly illustrated the potential of this Project. Now that we know what works we are currently planning the next phase of drilling which will focus on structurally controlled mineralization in faults, hanging wall recessive tuffaceous hosts, and rhyolite stockworks with strong surface precious metal and geochemical anomalies.” Dr. Paul David Robinson, Vice President of Exploration Mineralization in LR_DDH001 and LR_DDH002 is disseminated in tuffs and in the hanging wall of the Via Lactea Fault zone. These two holes are the only holes testing the Via Lactea Fault zone, which is recessive and associated with surface gold, silver and trace element anomalies along its 3 km N-NW strike. Mineralization remains open-ended in all directions along the Via Lactea Fault, and at depth. Mineralization in LR_DDH006 occurs in the last 15.6 m of th...