Highlights
|
- Assays from 26 g/t Au outline a broad area (5 km x 2 km) of structurally controlled gold mineralization in gneiss and granites
- 343 samples taken at
San Judas with 77 (22%) greater than 0.50 g/t Au.
President and CEO,
San Judas Highlights:
Table 1:
Assay Results of
AREA | TYPE OF SAMPLE | LENGTH | Au g/t | Ag g/t | Pb PPM | Zn PPM | Cu PPM |
Las Palomas | 0.5 | 26.40 | 7.7 | 4803 | 95 | 31 | |
Las Palomas | 1.5 | 14.60 | 4.8 | 2164 | 81 | 59 | |
Las Palomas | 0.7 | 12.90 | 2.1 | 982 | 950 | 700 | |
Las Palomas | 0.8 | 7.30 | 9.6 | 1865 | 80 | 23 | |
Las Palomas | 1.0 | 6.14 | 6.9 | 1694 | 582 | 76 | |
Las Palomas | 0.8 | 5.54 | 2.9 | 3490 | 358 | 55 | |
Las Palomas | 1.0 | 4.43 | 2.2 | 1389 | 111 | 116 | |
Las Palomas | 1.2 | 4.16 | 4.2 | 2256 | 84 | 16 | |
Las Palomas | 0.4 | 4.08 | 1.1 | 447 | 40 | 52 | |
Santa Lucía | 1.2 | 3.63 | 0.9 | 3328 | 996 | 172 | |
Las Palomas | 1.2 | 2.83 | 0.5 | 829 | 48 | 27 | |
Santa Lucía | Dump | - | 2.62 | 8.4 | 9755 | 797 | 50 |
Las Palomas | 0.5 | 2.49 | 0.7 | 13 | 34 | 8 | |
Las Palomas | 0.5 | 2.41 | 2.1 | 729 | 17 | 33 | |
Las Palomas | Dump | - | 2.20 | 0.9 | 323 | 390 | 51 |
Las Palomas | 1.3 | 2.01 | 43.3 | 9215 | 3518 | 164 | |
Santa Lucía | 1 | 1.80 | 2.7 | 968 | 429 | 36 | |
Las Palomas | 1 | 1.48 | 0.8 | 254 | 73 | 52 | |
Las Palomas | 0.5 | 1.34 | 4.3 | 1389 | 964 | 45 | |
Las Palomas | 1.1 | 1.22 | 6.1 | 3899 | 48 | 184 | |
Las Palomas | 1.5 | 0.75 | 7.7 | 3673 | 112 | 101 | |
Las Palomas | 0.5 | 0.73 | 1.3 | 888 | 16 | 536 | |
Santa Lucía | 1 | 0.69 | 11.7 | 1149 | 644 | 37 | |
Santa Lucía | 1 | 0.61 | 7.1 | 3008 | 868 | 39 | |
Santa Lucía | 0.5 | 0.59 | 4.4 | 2115 | 2183 | 453 | |
Las Palomas | 0.8 | 0.57 | 2.3 | 1824 | 47 | 177 |
San Martin hosts gold in oxidized granite and gneiss pervasive hematite and limonite alteration. Mineralization is quartz stockwork along foliation and cross cutting quartz veinlets.San Martin has a series of historical mines oriented 155- and 180-degrees azimuth, dipping strongly to the West and East in lengths that vary from 150 to 200 meters, over an area of 1,250 m in length and 750 meters in width. Several historical workings and areas of strong hematite alteration were sampled, and assay results are shown in Table 2. The key take-away of the sampling and geological work to date in theSan Martin area is the fact that the historical high-grade small mines are aligned with North-South trending structures with lower grade hematite stockwork in low-angle veining structures in the host rock, opening the possibility of finding high volume bulk deposits.
Table 2:
Assay Results of
AREA | TYPE OF SAMPLE | LENGTH | Au g/t | Ag g/t | Pb PPM | Zn PPM | Cu PPM |
San Martín | 1.5 | 13.70 | 0.4 | 22 | 77 | 49 | |
San Martín | 2 | 9.20 | 1.4 | 5 | 37 | 45 | |
San Martín | 1 | 7.12 | 3.3 | 39 | 24 | 35 | |
San Martín | 1 | 6.70 | 1.5 | 469 | 30 | 22 | |
San Martín | 1 | 6.23 | 1.4 | 786 | 303 | 46 | |
San Martín | 2 | 5.16 | 0.7 | 10 | 47 | 130 | |
San Martín | 0.8 | 4.51 | 4.7 | 3285 | 133 | 407 | |
1.9 | 4.09 | 0.5 | 20 | 59 | 241 | ||
0.7 | 3.37 | 0.4 | 201 | 223 | 202 | ||
San Martín | 1.2 | 3.13 | 0.7 | 44 | 31 | 81 | |
2 | 2.84 | 2.3 | 290 | 262 | 46 | ||
San Martín | 1 | 2.70 | 0.4 | 152 | 20 | 168 | |
San Martín | 1.2 | 2.59 | 2.7 | 1452 | 200 | 81 | |
San Martín | 0.9 | 2.44 | 0.5 | 16 | 16 | 26 | |
0.8 | 1.71 | 0.2 | 25 | 65 | 15 | ||
2 | 1.65 | 0.2 | 17 | 77 | 49 | ||
2 | 1.61 | 3.3 | 247 | 734 | 36 | ||
2 | 1.59 | 0.3 | 78 | 205 | 28 | ||
San Martín | 1 | 1.56 | 1.4 | 2464 | 1509 | 191 | |
San Martín | 2 | 1.27 | 0.2 | 10 | 21 | 31 | |
2 | 1.21 | 0.8 | 153 | 307 | 23 | ||
2 | 1.12 | 2.0 | 151 | 323 | 45 | ||
San Martín | 1.5 | 0.93 | 4.4 | 3714 | 2053 | 95 | |
San Martín | 2 | 0.81 | 1.2 | 169 | 27 | 68 | |
San Martín | 1.5 | 0.64 | 0.2 | 11 | 55 | 38 | |
San Martín | 2 | 0.62 | 0.2 | 10 | 18 | 96 | |
San Martín | 2 | 0.60 | 0.8 | 72 | 67 | 101 | |
2 | 0.59 | 0.8 | 5 | 43 | 133 | ||
0.4 | 0.58 | 0.2 | 22 | 42 | 123 | ||
1.3 | 0.57 | 0.2 | 73 | 124 | 87 | ||
San Martín | 2 | 0.50 | 0.2 | 13 | 42 | 51 |
- Represo Seco is a high grade sheeted and brecciated vein system with three generations of quartz; white, crystalline quartz and chalcedony-druzy, filling open spaces in granite two meters thick with a strike length of 65 meters at the Represo Seco site and is open ended. Rock chip samples indicate a strong possibility of stacked gold structures along faults in the granite host. Magna collected a trench sample that ran 7 g/t Au at Represo Seco. Mapping and sampling are ongoing to the southwest to the property boundary with outcrops containing stockwork with hematite, jarosite, limonite, sericite alteration, clays, chlorite, bands of crackled jasperoid silica, and fine-grained magnetite disseminated in fractures. The host rock is granite. Rock samples have been collected over a strike length of several kilometers and additional assay results will be reported when received.
Table 3:
Assay Results of
AREA | TYPE OF SAMPLE | LENGTH | Au g/t | Ag g/t | Pb PPM | Zn PPM | Cu PPM |
Represo Seco | 0.5 | 7.41 | 2.8 | 226 | 142 | 153 | |
Represo Seco | 1.9 | 6.03 | 2.4 | 970 | 76 | 235 | |
Represo Seco | 1.8 | 5.08 | 1.7 | 576 | 65 | 209 | |
Represo Seco | Grab sample | - | 3.25 | 5.1 | 2417 | 398 | 190 |
Represo Seco | 2.3 | 2.10 | 0.7 | 1312 | 26 | 179 | |
Represo Seco | 1 | 1.85 | 5.5 | 2799 | 128 | 540 | |
Represo Seco | 1 | 1.52 | 4.2 | 1538 | 107 | 177 | |
Represo Seco | 1 | 0.98 | 54.9 | 8102 | 60 | 1203 | |
Represo Seco | 1.5 | 0.71 | 10.6 | 5299 | 79 | 1255 |
Cueva del León hosts argillic altered intrusive felsic rocks that strike north south and dip 45-degrees generally to the west. Initial assays have been in the 1.3 to 3 g/t range. Located in the south-central portion of the property, it is an area with gold mineralization that extends in the direction of E-W, being the most notable evidence a series of historical mines occurring in a line of about 100-120 meters, the most important of which is LaCueva del Leon adit, developed along a vein of quartz and stockwork of quartz-hematite in a gneiss sequence. The mineralized area in its projection to the west is lost in the valley under the alluvial cover, towards Represo Seco as described above. It is necessary to extend the exploration in both directions ofCueva del Leon , perpendicular to the general dip of the known structure, to know its relationship with others exposed to the north and south.
Table 4:
Assay Results of
AREA | TYPE OF SAMPLE | LENGTH | Au g/t | Ag g/t | Pb PPM | Zn PPM | Cu PPM |
1.1 | 4.99 | 23.1 | 14500 | 67 | 641 | ||
1.0 | 4.28 | 4.5 | 2409 | 84 | 149 | ||
1.2 | 2.03 | 6.5 | 4233 | 40 | 294 | ||
1.5 | 1.90 | 23.9 | 6982 | 54 | 318 | ||
1.0 | 1.80 | 3.8 | 1094 | 53 | 96 | ||
1.2 | 1.01 | 6.4 | 2393 | 27 | 195 | ||
2.4 | 0.99 | 9.1 | 4238 | 79 | 50 | ||
1.8 | 0.83 | 2.4 | 329 | 66 | 29 | ||
2.0 | 0.73 | 5.5 | 3804 | 37 | 88 | ||
2.0 | 0.62 | 4.3 | 704 | 53 | 88 | ||
1.1 | 0.59 | 5.0 | 1734 | 34 | 113 |
Figure 1: Exploration targets at San Judas Property,
https://www.globenewswire.com/NewsRoom/AttachmentNg/e4f9eb44-642a-416b-bdba-334648cfd2e5
San Judas Property
The
The oldest rocks within the property are a package of metamorphic rocks which include banded quartz-feldspathic gneiss and augen gneiss, granite, and green schist. All metamorphic rocks exhibit foliation which generally varies in strike direction from between 330-degrees to North and dips to the southwest generally at 45-degrees at
The metamorphic rocks are intruded by a Tertiary igneous package, which includes granite with visible feldspar and quartz, and is porphyritic in texture. It appears that the granite was emplaced along low angle shear zones in the system.
QA/QC Program
Quality Assurance/Quality Control consists of the regular insertion of duplicates, blanks and certified reference standards into the sample stream. Check samples will be submitted to an umpire laboratory at the end of the drilling program. Samples are kept in a secure facility and transferred to Bureau Veritas in
Qualified Person
About
Magna is committed to advancing its 100% owned highly prospective mineral properties located in
Magna takes social license seriously and employ local community members and services in its operations.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
For further information, please contact
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN
Cautionary Statements
Neither the
This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Source:
2020 GlobeNewswire, Inc., source