공시 • Feb 18
Magna Terra Minerals Inc. Receives Results from Its First Phase Exploration Program Completed
Magna Terra Minerals Inc. announced that it has received results from its first phase exploration program completed in 2021 on its 100%-controlled Hawkins Love Gold Project ("Hawkins Love" or "Project"), located in Southern New Brunswick. The Company acquired the grass roots project in November 2020 after recognizing that the Project is in a similar geological environment to the nearby Clarence Stream Project led by Galway Metals Inc. The high level of prospectivity at Hawkins Love is based on a 10-kilometre strike of a prominent structure known as the Back Bay Fault that is 3.0 kilometres wide and locally coincident with the southern contact between the Saint George Batholith and the Mascarene Group volcanic and sedimentary rocks like at Clarence Stream. The exploration program focused on the Back Bay Fault and the contact with the granite and included the collection of 3,315 soil samples, 171 rock float and grab samples, and a 685-line kilometre drone magnetic survey. Magna Terra contracted GeoXplore Surveys Inc. to complete a primarily B-horizon soil sampling program covering the 10-kilometre long contact zone between the St. George Batholith and the Mascarene Group and coincident Back Bay Fault, the target environment for gold mineralization. The survey was designed to follow-up and expand upon historical sampling in the area that outlines areas of anomalous gold-in-soils. A total of 3,315, largely B-Horizon (98%) soil samples were collected along 100 metre spaced lines at 25 metre sample intervals. Gold analysis of the soil samples has returned assays up to >10,000 ppb gold with 232 soil samples assaying >10 ppb gold and 10 soil samples >50 ppb gold. These anomalous samples, along with results from historic exploration, outline five main geochemical and structural target areas; the Jake Lee, Hawkins Lake, Love Lake, New River 1, and New River 2 Targets. Sampling at the Jake Lee Target has outlined a gold anomaly over an extent of 1.7 by 2.7 kilometres, with 54 soil samples assaying greater than 20 ppb gold and up to 256 ppb gold and >10,000 ppb gold, over a strike length of 1.7 kilometres that coincides with high tenor, historic stream silt samples assaying up to 5,280 ppb gold in an area of bedrock base metal (Cu, Pb, Zn) mineralization. A soil sample assaying >10,000 ppb gold (>10 g/t gold; upper detection level) is located at the southern extent of the Jake Lee Target and forms a priority target for follow- up prospecting. At Love Lake, 32 high tenor soil samples assaying > 20 ppb gold and up to 208 ppb gold occur over an area of 2.8 by 1.0 kilometres with the highest tenor soils located 500-1,000 metres down-ice (southwest) of historic, visible gold- bearing boulders* assaying up to 302.5 g/t gold. At Hawkins Lake, 12 anomalous soil samples assaying greater than 20 ppb gold and up to 683 ppb gold coincide with know bedrock base metal (Cu, Pb, Zn) mineralization and form a target over a 1.0 by 0.6 kilometre area. At New River 1 Target, 9 anomalous soil samples assaying greater than 20 ppb gold and up to 52 ppb gold form a target over a 1.4 by 0.7 kilometre area. The New River 2 Target, 10 anomalous soil samples assaying greater than 20 ppb gold and up to 460 ppb gold form a target over a 1.2 by 0.6 kilometre area. The Hawkins Love Property is characterized by an area with a complex glacial geological history with areas that have thin glacial till cover and other areas covered by thicker glacial till blankets and glacial-fluvial material. The soil anomalies show a consistent southeast directed glacial dispersion, where transport of gold-bearing soils from a source located up-ice from the northwest extent of the soil trend is likely, typically near the deformed northern margin of the Mascarene group in proximity to granitoids of the St. George Batholith. The Company contracted Pioneer Exploration Consultants Ltd. to complete a systematic drone magnetic survey covering the same 8-kilometre long contact zone as the soil sampling program. The survey covered an area of prospective gold mineralization in order to provide further details on the host rocks and related fault structures that may host gold mineralization. A total of 685-line kilometres of magnetic surveying was completed on 50 metre spaced lines. Data quality was monitored by Bob Lo, P.Eng., consultant to Magna Terra. Interpretation of the magnetic data has revealed several important sub-parallel fault and shear zones, within the larger 3.0 kilometre wide influence of the Back Bay Fault zone, that may act as conduits or hosts to gold-bearing fluids. These faults in places correspond to gold soil geochemical anomalies and form targets for follow-up exploration. Initial reconnaissance-style prospecting, rock sampling and geological mapping on Hawkins Love consisted of collecting rock samples along ATV access roads, roadcuts, and traverse lines covering the most accessible portions of the property. Exposure on the property is highly variable with road cuts and ridgelines representing nearly all of the bedrock exposure on the property. A total of 171 rock samples were collected across the property and float grab samples (typically angular boulders) represent most of the sampled media and in many cases were focused on identifying sulphide-bearing quartz veins and altered host rock. In general, sediment and volcanic hosted sulphides were the most commonly encountered mineralization styles with lesser occurrences of greisen veins in the granites and sulphide bearing intermediate to mafic dykes and sills. Outcrop mineralization identified on the property consisted of pyrite, chalcopyrite, and lesser base metal sulphides (galena and sphalerite). A gold assay high of 0.15 g/t gold was the only anomalous result returned to date and was collected from a fine grained leucogranite with disseminated pyrite and chalcopyrite in the northern part of the property. Preliminary geological mapping on the Project has identified an environment that is favourable for orogenic style gold mineralization with identification of quartz vein zones and related alteration (e.g., Fe-carbonate, sericite and sulphide mineralization) that are tied to fault and deformation zones.
