| Announcement Date: | 2022-02-08 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | NI43-101 |
| Company name: | Magna Terra Minerals Inc. |
| Project name: | Great Northern |
| Location: | Canada |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 128.5m @ 0.72g/t Au from 61.5m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Toronto, Ontario – February 8, 2022 – Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT) is pleased to announce that it has received assay results from its recently completed drilling program at the Rattling Brook Deposit (the “Deposit”) on its 100% owned Great Northern Project (“Great Northern”), located in western Newfoundland (see news release dated November 22, 2021). Drilling consisted of 10 drill holes (JA-21-124 to 133) totalling 1,253 metres (the “Drill Program”) and was designed to test potential geological controls on gold mineralization by northwesterly trending faults (Exhibit A and B). The Company has also received assays from a mapping and 79-sample prospecting program (“Surface Sampling Program”) conducted along the same northwesterly striking fault zone referred to as the Apsy Feeder Zone. The Drill Program resulted in the discovery of a new zone of gold mineralization, confirming that northwesterly trending faults form favourable hosts to gold deposits. Specifically, gold mineralization was intersected 150 metres northwest of the Rattling Brook Deposit within the Apsy Feeder Zone, both expanding the deposit and confirming the presence of gold mineralization within the fault structures (Exhibit C and D). Further, the Surface Sampling Program resulted in 32% of rock grab samples** being anomalous in gold, including assays up to 14.7 grams per tonne (“g/t”) gold and demonstrates along with previous sampling that gold mineralization within the Apsy Feeder Zone continues at surface over 800 metres of strike length (Exhibit A). |
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