Announcement Date: 2021-11-22
Announcement Type: Exploration Update
Announcement Code: NI43-101
Company name: Magna Terra Minerals Inc.
Project name: Great Northern
Location: Canada
Commodities: Gold
Highlight: Broad zones of alteration intersected
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Toronto, Ontario – November 22, 2021 – Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) is pleased to announce that it has intersected broad zones (up to 95 metres true thickness) of sulfide (pyrite (‘Py”) and arsenopyrite (“Aspy”)) mineralization and alteration within and adjacent to the Apsy Zone of the Rattling Brook Deposit (the “Deposit”) on its 100% owned Great Northern Project (“Great Northern”), located in western Newfoundland. The Apsy Zone and adjacent Apsy Feeder Zone were tested as part of a recently completed 10 drill hole (JA-21-124 to 133), 1,253 metre diamond drilling program designed to better define and expand upon the existing mineral resource at the Deposit (the “Drill Program”). Sulfide mineralization and intense alteration of host granitic rocks are intimately associated with gold mineralization at the Deposit (Exhibit A and B) and have been intersected 150 metres northwest of the Deposit within a fault referred to as the Apsy Feeder Zone. Assays are pending for all 950 drill core samples submitted for analysis, however, intersecting sulfide mineralization and associated alteration compare favourably to gold-bearing intervals from drilling within the mineral resource. Based on these key indicators the drill program was upsized to 1,250 metres and has successfully demonstrated the discovery potential at Great Northern where the Deposit remains open along strike and along fault systems like the Apsy Feeder Zone (Exhibit C).
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