Magna Gold Corp. (MGR:TSX.V; MGLQF:OTCQB) announced in a news release it commenced an exploration program at its Margarita project in Chihuahua, Mexico, and plans campaigns for its La Pima and Los Muertos projects in Sonora, Mexico.
"Magna has a promising portfolio of silver projects in Mexico and an ambitious exploration program planned for the year," President and CEO Arturo Bonillas said in the release.
At Margarita, the company intends to re-log drill core obtained in the acquisition, re-sample and sample vein and vein extensions, and compile sections and long sections based on 2018 and 2019 drilling. The objective is to better understand the property's mineral potential. A survey team will locate the Margarita drill hole collars to confirm existing data.
To prepare for field mapping at Margarita, Magna acquired Aster satellite images and contracted with a firm to conduct topographic map work.
After the Toronto-based company completes field work, it plans to then conduct infill, confirmation and exploration drilling. It will focus the drill bit in areas between and downdip from existing drill holes placed by the former operator.
At the Los Muertos project, Magna's plans call for soil and rock chip sampling, geology mapping and an induced polarization geophysical survey, followed by an initial 2,000 meters of drilling. The latter will likely start in Q3/21 or Q4/21.
As for the La Pima project, Magna intends to drill 2,000 meters along limestone-hosted silver breccias in a second exploration phase. It is slated to commence in Q3/21.
"In addition to a continued successful ramp-up at San Francisco and establishing a stable base on gold production, we believe there is a significant amount of value that can be surfaced across our silver portfolio," Bonillas added. The San Francisco project is also located in Sonora.
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