Magna Terra Minerals controls 103,000 Hectares of exploration rights in the mining friendly Santa Cruz Province of Argentina. The concessions lie entirely within the highly prospective Deseado Massif which constitutes a world class "Large Igneous Province" (LIP) with outstanding epithermal precious metal mineralization associated with Jurassic volcanism and crustal extension. The Massif occupies the northern part of Santa Cruz Province and is in an early-stage of exploration and development. Mining infrastructure is developing rapidly and most of our projects occur in close proximity to producing Au and Ag mines such as Cerro Vanguardia, Cerro Negro, San Jose, Mina Martha, Manantial Espejo, Cerro Moro and the newly developed Don Nicolas.
The Luna Roja project hosts structurally and stratigraphically controlled Au and Ag mineralization and has enjoyed significant investment in mapping, rock chip sampling, soil sampling and trenching in additional to an IP program. The Mineralized footprint of this project constitutes approximately 3Km by 800m of surface mineralization surrounding shallow geophysical targets associated with strong chargeable and resistive anomalies. We intend to implement our planned 1000 m drill before the end of 2018.
The Piedra Negra Project constitutes a zone of low sulphidation veins and stockworks in outcrop and float over a 2 km strike length and 700m width. Results from 460 surface rock chips reported and average grade of over 4690 ppb Au. Geological mapping on this project, combined with ground magnetic and IP surveys were used to define a 1000 m drill program which we intend to implement during 2018.
The Covadonga project exhibits a significant mineralized footprint from rock chips with anomalous Au, Pb, As and Hg over a 3 km strike length in veins and hydrothermal breccias. Trenching has revealed low level Au with a very high correlation coefficient to Pb in argillic alteration in volcanics. A soil sampling program comprised of 694 samples and a program of ground magnetic and IP surveys have been completed and drill targets have been defined.
The Gertrudis Project is comprised of two mineralized structures which we refer to as the Gertrudis and David veins. These veins are some 300m apart, sub parallel and steeply dipping and are comprised of silicified tectonic and volcanic breccias with argillic alteration halos. Low grade Au anomalies occur in both veins which are also associated with As, Sb and Hg anomalies. The Gertrudis vein is the more prominent of the two and extends for 800m. This is a NNW striking structure which is steeply dipping to the WSW, and is well exposed along most of its length. The David Vein is exposed for 350m and does not exhibit a measurable dip. We have completed ground magnetic and IP surveys on this project and drill targets have been defined.
El Meridiano and La Rosita projects both have historic drilling dating back to 2010 with reportable but sub-economic Au mineralization. We have implemented CSAMT and IP programs respectively, on these projects and they are currently under evaluation for future exploration.
In addition to the defined projects we also have the Boleadora group to the south of Cerro Negro and the Katrina Cateo Between Cerro Vanguardia and Cerro Moro. These properties constitute 60,000 hectares of prospective ground. During first pass prospecting the Katrina Cateo revealed Au anomalies ranging from 20 ppb up to 1.5 ppm. We are currently planning first pass exploration of the Boleadora group properties for which we are using proprietary remote sensing and data analysis techniques.