Primary Target: Gold and Silver in Low Sulphidation Breccias in structures and mantos.
Partner: Available for Joint Venture
Location:The Luna Roja Project is situated in the Santa Cruz Province of Argentina, on the Northern edge of the Deseado Massif and is approximately 75 Km to the NW of the new Don Nicolas Mine which is currently in construction.
Project Operator: Magna Terra Minerals
Magna Terra Minerals has 100% control of the El Monte I M.D. and the El Monte Cateo and these properties constitute 10,000 Hectares on which the project is based.
The Luna Roja project is ready to drill, with a 1000 m, 8 hole, drill plan in place and budgeted. The project has multiple targets including stockworks and breccias at the edge of a dome complex and a manto at the palaeosurface at the base of rhyolitic domes and underlying andesites. These targets are associated with a NNW striking structural corridor comprising a 3km extension of semi continuous low sulphidation Au and Ag veinlets and breccias.
Geology: Trenching across the Via Lactea fault, adjacent to dome rocks and argillized tuffs, has revealed several zones of continuous mineralization at the surface. Assay results in the Cruz del Sur Zone include 55 meters of 0.41 ppm Au and 13.2 ppm Ag in Trench 2 and 35 meters of 0.10 ppm Au with 7.6 ppm Ag in trench 1.
To the west of and in the hanging wall of the Via Lactea fault there are pervasively argillized and locally silicified tufaceous rocks which suggest the possibility that fault displacement has downthrown an undetermined portion of the mineralized zone where hanging wall structures could provide a favorable environment for disseminated and vein-style mineralization. To the east of the Via Lactea fault, a large sub-horizontal induced polarization (IP) anomaly (1,200 m x 500 m horizontal extent at >15 mV/V) could be indicative of widespread disseminated sulfide mineralization at relatively shallow depths (50-100 m) within the rhyolitic dome and at the interface between underlying andesites and the base of the rhyolitic dome complex. This target has resistivity of up to 5,000 ohms. Additional mineralization could be concealed by post-mineral Tertiary basalt flows, which cover the dome complex on its north, east, and south sides.
Analyses of induced polarization (IP) maps and sections, 700 soil samples and 1,500 rock chips, chip channel, float and trench channel samples from 4,000 m of trenches has been undertaken. The most significant surface results obtained on the project are in the Cruz del Sur zone where geologic mapping and sampling defines a semi-continuous zone of low-sulfidation-style, precious-metal bearing quartz veinlets and hydrothermal breccias with silicification and adularia alteration. Rock chip assays have yielded up to 638 ppm Ag and 8.6 ppm Au. This precious metal zone follows the footwall of the through-going Via Lactea fault on the west margin of a rhyolite dome complex and examination of IP cross sections reveals that wherever the Via Lactea Fault interests IP anomalies at depth then surface mineralization occurs. Our analysis has supports the definition of a proposed 1,000 m drill program, which subject to funding, will be carried out during 2018.