RCKS Talk

05-Mar-2019

Magna Terra Minerals Inc

Drill Results Just the Start

Impact: Positive

Drill results from the first of eight holes at Magna Terra’s Luna Roja project are encouraging. We look forward to results for 7 holes which are pending given the company is testing what could be a large epithermal precious metal system. We view Magna Terra as an early stage explorer in Argentina’s prolific Santa Cruz Province, with a strong potential to re-rate with positive drilling news.

Highlights:  

  • Technical success with the first hole. Drilling at the project is targeting the Cruz Del Sur, Orion and Estrella del Norte targets which overly the north-northwest striking Via Lactea fault system. Assay results from the first hole drilled returned 51.4m at 0.26 g/t Au (LR-DDH001). Results are shy of being ore grade but encouraging given disseminated sulphides within hydrothermally altered volcanic rocks observed throughout. Assays are pending for 7 remaining holes to the north; visual inspection has identified wide intervals of disseminated sulphides and alteration in these holes which bodes well - but the proof will be in the pudding. 
  • Geophysics and geochem point to a large system. The company is drilling three target areas which cover 1.8km of strike within a 3km structural corridor. Results to date, suggest a large epithermal system is at work. Moreover, geophysics has identified an extensive 1km chargeability anomaly in the southern portion of this corridor near the Cruz del Sur target. We note that Hole LR-DDH001 terminates in disseminated sulphides in a dacitic dome within this chargeability anomaly.
  • Exploring in elephant country. Magna Tera’s Luna Roja project is situated in Argentina’s prolific Santa Cruz province. A number of major mining companies are operating in the region, including Goldcorp (Cerro Negro), AngloGold Ashanti (Cerro Vanguardia) and Yamana (Cerro Morro). OceanaGold recently joint-ventured Mirasol Resources Ltd’s La Curva project, which bears similarities to Luna Roja.  
Valuation:
We believe that Magna Terra is providing mounting evidence it could make a significant discovery. With a market cap of only C$3.2M a significant ore grade intercept, should cause Magna Terra to re-rate significantly. Results from its ongoing drill program should begin to shed more light on the upside potential of this project. Upcoming catalysts include 1) Assay results from 7 remaining holes (Q1/19)

 

Top Stories

Search All Posts

Categories

  1. Company Comment
    • (1)
    • (2)
    • (3)
    • (4)
    • (5)
    • (6)
    • (7)
    • (8)
    • (9)
    • (10)
    • (11)
    • (12)
    • (13)
    • (14)
    • (15)
    • (16)
    • (17)
    • (18)
    • (19)
    • (20)
    • (21)
    • (22)
    • (23)
    • (24)
    • (25)
    • (26)
    • (27)
    • (28)
    • (29)
    • (30)
    • (31)
    • (32)
    • (33)
    • (34)
    • (35)
    • (36)
    • (37)
    • (38)
    • (39)
    • (40)
    • (41)
    • (42)
    • (43)
    • (44)
    • (45)
    • (46)
    • (47)
    • (48)
    • (49)
    • (50)
    • (51)
    • (52)
    • (53)
    • (54)
    • (55)
    • (56)
    • (57)
    • (58)
    • (59)
    • (60)
    • (61)
    • (62)
    • (63)

 

RISK WARNING:

Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer (EMD) in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and Yukon.

 

By accessing this website you agree to be bound by our Terms of Use and Privacy Policy.

 

Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.

© Copyright 2018 Red Cloud Klondike Strike Inc. All rights reserved.