• El Meridiano

    Primary Target
    Gold in Low Sulphidation veins and breccias in a diatreme environment

    Partner
    Available for Joint Venture

    Location
    The El Meridiano Project is located in the Deseado Massif of Santa Cruz Province, approximately 37 Km North-West of Cerro Vanguardia and and 65 Km West of the Tres Cerros Hotel from which it is accessed in around 60 minutes on good unpaved roads.

    Project Operator
    Magna Terra Minerals

    Property Information
    Magna Terra Minerals has 100% control, through a leasing agreement with a private individual, of the El Meridiano M.D. which constitutes 2970 Hectares on which the project is based. The neighbouring Cerro Vanguardia Gold Mine represents a good candidate for JV or offtake partner.
    Geology: Regional mapping and satellite imagery suggest the Meridiano property lies in the western part of an 8-10 km wide caldera, and the westernmost part of this feature is thought to be the site of 2.5 km wide circular diatreme complex. Andesitic to felsic tuffs in a 4 sq. km area are cut by gold-bearing hydrothermal breccias filling N to NW trending fractures and faults. Virtually all samples of these breccias contain small to significant amounts of gold, arsenic and antimony, but very little silver or base metals, suggesting that the mineralization in this area is preserved at a high level of erosion. Exploration at Meridiano has focused on a 4 sq. km area in the northern part of the property block. Work carried out to date includes 403 rock chip samples, 65 line-km of magnetic and 32.5 line-km of gradient array IP ground surveys and 32 drill holes. The drilling totals 4,698 m in two reverse circulation campaigns and one diamond core twin-hole campaign. The drill holes were collared within a 1 sq. km area in the northwestern-most part of the property.
    Historic drill results included multiple intercepts of weak gold mineralization. Most holes hit one to several thin intervals of at least 0.10 ppm Au, and about one-third intersected wider intervals of weak mineralization interspersed with narrower higher-grade zones. Ten holes intersected “significant mineralization,” here considered to be the equivalent of 1.5 meters (true thickness) of at least 0.34 ppm Au). These holes and their mineralized intercepts are provided in the following table:

    Note: The mineral intercepts reported above are at an angle to the steeply
    dipping structural zones. Although the actual true widths are uncertain, the 5 – approximate “true widths” provided in the table above were calculated assuming these structural zones are vertical and are therefore equal to one half the width intersected in the drill hole. The previous drilling tested the structural corridors to a maximum vertical depth of only 138 m. The company believes these results indicate that gold mineralization within these corridors has good horizontal continuity. The mineralized diatreme model suggested for Meridiano is supported by surface sampling, mapping, geophysical surveys, and by drilling. The area encompassed by mineral showings, both at surface and depth, is sufficiently large to warrant further exploration. Despite the drilling carried out to date, the project remains at an early stage of exploration and needs further ground work and modelling before undertaking further drilling. We are planning work on currently defined target area of this project including an IP survey to better define the flanks of the diatreme and the optimal drilling depth.