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Magna Gold Update on San Judas Gold Project in Sonora State Mexico

Mining News - Published on Wed, 15 Jan 2020

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Magna Gold Corp has reported positive gold assays from San Judas. The terms of the acquisition of San Judas property are detailed in our September 30, 2019 press release. Magna Gold has fielded a team of geologists to San Judas and have been making good progress mapping and sampling the property. The company has flown key areas with a drone to produce high definition maps. Magna geologists have been mapping and sampling the many historical gold mines on the property and expanding their work to adjacent structures and parallel structures to numerous historical mining trends that are on the property. Historical workings extend over kilometers at San Judas and to date, Magna’s work has been positive. President and CEO Arturo Bonillas said “These sample results confirm our expectations for San Judas as a tier 1 exploration property. The address is right, the rocks are right, and the assays are right. We are evaluating our geologic and geochemical data to design a drill program for San Judas in 2020.”

Santa Lucia and La Paloma are parallel gold bearing structures approximately 500 meters apart with strong hematitic alteration between the structures. Santa Lucia is a bulk mining target and consists of a series of shallow historical mines (trenches and shafts) distributed along a line of over 900 m in length, with a 135-degree azimuth. Most of the historical mines are developed in quartz veins and veinlets hosted in a granoblastic granite showing argillic alteration within a sheared fringe; mapping has identified parallel structures on historical mines in sheared granite with quartz veinlets, oxides, and boxworks of the original sulphides (pyrite, galena, etc.). Immediately north of Santa Lucia is the Las Palomas area, where historical mines were developed on six parallel structures in granoblastic granite, dipping 45 – 50 degrees, 150-degree azimuth, sub-parallel to the Santa Lucia trend. Historical mines tend to be of low angle at depth with high angle fracturing of gray quartz cutting the main structures and foliation in the granite. The best gold values at Las Palomas site are 26.40 g/t Au producing adjacent samples of 14.60 g/t Au, 5.54 g/t Au, 7.30 g/t Au. These samples are strongly oxidized with stockwork veining containing boxworks from sulfides and strong hematite alteration.

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Posted By : Rabi Wangkhem on Wed, 15 Jan 2020
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