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Magna Terra Minerals Reports Thick Intercept of Near-Surface Gold Oxide at the 100% Owned Luna Roja Project
TORONTO, April 16, 2019 (GLOBE NEWSWIRE) -- Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) (SSE: MTTCL) is pleased to announce assay re
About this update from Magna Terra Minerals Inc
[{"type":"text","content":" TORONTO, April 16, 2019 (GLOBE NEWSWIRE) -- Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) (SSE: MTTCL) is pleased to announce assay results representing vertically zoned epithermal Gold Mineralization 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 and from one hole in the Estrella del Norte area. The company is still waiting for assays from another four holes. 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. “The mineralisation from the first two holes in the campaign is highly significant because it shows upgrading of tenor by 2.5 times at only 50 meters depth relative to the trench samples. We are very encouraged to have significant intercepts in two out of the three holes from the initial program at Cruz del Sur. The first two holes combine to give a significant strike length of shallow, disseminated mineralization with much of which is oxidized, implying potential for early definition of a low-cost bulk minable resource” - Dr. Paul David Robinson, Vice President of Exploration The mineralization is disseminated in lithic crystal tuffs and rhyolitic crystal tuffs in the hanging wall of the Via Lactea fault zone. This hole was collared 145 m to the NNW of hole LR_DDH001, which reported 51.4 m of 0.26 g/t Au and 9.7 g/t Ag, including 2 m of 1.08 g/t Au and 79.6 g/t Ag. 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. Assays have also been received for two additional holes, one testing an IP chargeability anomaly in the Cruz del Sur area, and the ot...