Magna Terra Minerals Inc. initiated a geophysical program which covers five projects. The projects being advanced are Piedra Negra, Covadonga, El Meridiano, La Rosita and Gertrudis.
The Piedra Negra Project is located approximately 25 km N-NE of the Cerro Vanguardia gold mine (AngloGold Ashanti) and is accessible by a good unpaved road, from the Tres Cerros Hotel, 30 km to the east. The Cerro Covadonga Project, approximately 25 km north of Cerro Vanguardia, is adjacent to Piedra Negra and is accessed by the same road from Tres Cerros, approximately 40 km to the east. The El Meridiano project is approximately 40 km NW of Cerro Vanguardia and 70 km west of Tres Cerros. These three projects constitute the first phase of the geophysical program and are to be followed immediately by the La Rosita and Gertrudis Projects. La Rosita project is located 15 km NE of Mina Martha silver mine and 21 km north of the Manantial Espejo silver mine and is approached by 80 km of unpaved roads and farm tracks from Gobernador Gregores. The Gertrudis Project is reached by 110 km of unpaved road and farm tracks from the town of Pico Truncado.
The program, covering the five projects, is comprised of 138 line km of Ground Magnetometry, 44.5 line km of Induced Polarization and 7.5 line km of CSAMT. The distribution of the work is outlined in the table below.
|Project||Technique||Mag Line km||(IP) Line km||CSAMT Line km
|Piedra Negra||Ground Magnetic||60||–||–|
|Induced Polarization (IP)||–||15||–|
|Induced Polarization (IP)||–||17.5||–|
|La Rosita||Induced Polarization (IP)||–||9||–|
|Induced Polarization (IP)||–||3||–|
Mr. Lew Lawrick, President & CEO of Magna Terra commented: “We are very pleased to be moving forward with this phase of our exploration program, which will bring these five projects up to a drill ready status on a level with our El Monte project, where drill planning and budgeting is already complete. By the end of 2017 we will have six projects with drill planning and budgeting in place and we will be ready to offer these as turnkey JV projects under our management.”