Magna Terra Minerals has announced the commencement of drilling on the Piedra Negra Project in Santa Cruz Province, Argentina.
The Piedra Negra Project is located approximately 30 km N-NE of the Cerro Vanguardia gold mine (Anglo-Ashanti) and is accessible by a good unpaved road, from Tres Cerros, 32 km to the east.
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 460 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 16.02 ppm with an average grade of 0.47 ppm including 189 samples over 0.1 ppm. Note that samples on the 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 Project.
The principal target concepts are:
N-S striking veins seen in outcrop and verified by IP resistivity.
E-W striking dilatational structures defined from IP resistivity and magnetic lows.
Stockworks and associated fluid traps in Rhyolitic domes seen in outcrop and verified with IP resistivity.
The target area is divided, for the purposes of this campaign, into three target zones. From north to south, these are The Puyutano Dome, Vetas Hermanas, Piedra Negra Domes. Nine holes constituting approximately 1,000 m of drilling are planned for the first phase.
Puyutano Dome Target Area
Puyutano is the most northerly zone on the Project, and is characterized by low sulphidation veins in a rhyolitic dome complex. The main target here is the Elizabeth Vein in the southern flank of the dome. Holes DDH_001 and 2 target the vein which averages 1.48 ppm Au from 78 rock chips and float samples over a 220 m strike length.
Vetas Hermanas Target Area
Vetas Hermanas zone is comprised of 1,000 m of low sulphidation, banded, crustiform and cockade texture veins which are hosted in andesitic tuffs and ash tuffs. Holes DDH_003 through DDH_005 target the discovery vein or Emily Vein which averages 0.75 ppm Au from 39 rock chips over a 300 m strike length. Hole DDH_006 targets the Valentina Vein which averages 0.72 ppm Au from 21 rock chips over a 130 m strike length.
Piedra Negra Domes Target Area
The Piedra Negra Domes zone is characterized by weakly positive topography representing the tops of rhyolitic domes which, in some cases, show evidence of stockworking with traces of Au. In the recessive areas between the domes there is evidence of veins in float and sub-crop. Holes DDH_007 through 9 target veins and stockworks as well as what we interpret to be fluid traps on the underside of the domes as evidenced in the IP resistivity sections.
Quality Assurance / Quality Control
Surface samples were taken with hammer and chisel or with a diamond saw and placed in sealed bags. Samples were delivered, by Magna Terra staff, directly to Alex Stewart Laboratories in San Julian, Santa Cruz, Argentina, for sample preparation and subsequently shipped to Alex Stewart Laboratories in Mendoza, Argentina, for gold fire assay and multi element analysis. A QAQC program including insertion of blanks and duplicates has been implemented.
Note, that rock chips or selective samples were taken in situations where sample spacing is determined by availability of outcrop and sub-crop and so the results are not necessarily representative of the mineralization hosted on the Project.
All technical data disclosed in this press release has been verified by Magna Terra’s Qualified Person, Paul D. Robinson Ph.D. and Certified Professional Geologist as recognized by the Association of Professional Geoscientists of Ontario (APGO).
Source: Company Press Release