Magna Gold Announces Maiden Resource Estimate for the Margarita Silver Project

TORONTO, April 21, 2022

• Indicated mineral resources are estimated to be 1.854 million tonnes ("Mt") at 204.9 g/t Ag and Inferred mineral resources of 0.454 Mt at 153.4 g/t Ag above a 75 g/t Ag cut-off grade.
• Includes Indicated resources of 12.22 million ounces ("Moz") of Ag and inferred resources of 2.24 Moz Ag.
• Margarita Vein High Grade Core – The deposit contains a well-defined high-grade core that demonstrates excellent continuity. Resources contained within this core are estimated to be 0.78 Mt @ 332.1 g/t (Indicated) for a metal content of 8.32 Moz of silver.                                          
• Strong Resource Growth Potential – Our first pass drill program focussed on defining the mineralization contained within the Margarita vein. This structure remains open in all directions and at depth. Our drill program also discovered and confirmed the presence of multiple parallel vein systems most notable of which were the Juliana and Caido veins. These veins are strongly mineralized, and follow-up drilling will focus on defining additional resources in these parallel veins to be included in subsequent resource updates. The current resource estimate only incudes mineralization in the main Margarita vein.
• Development Advantages – The Margarita Project is in a mining friendly jurisdiction with great access, infrastructure and availability of skilled workers.

President and CEO Arturo Bonillas commented; "Delivery of a maiden resource estimate is a huge milestone for the Company. The team delivered this robust resource on schedule and on budget. We have unlocked tremendous value through the drill bit and there is great potential for significant resource growth in the near term. Our exploration program defined a high-grade resource and discovered several parallel structures. We look to add the newly discovered structures in our next resource update and anticipate material increases in the mineral inventory."  Mr. Bonillas continues, "We are on track to release a PEA in the coming months and will be making a construction decision before the end of 2022.   Based on what we have seen so far I am confident the Margarita Project will generate significant value for our shareholders for years to come."

	Resource Category	Margarita Vein	Tonnage (Kt)	Average Grade (Ag g/t) ARIVA.DE Börsen-Geflüster Kurse Affiliated Managers Group, Inc. 6.375% Senior Notes due 2042 -   0,00% Magna Gold Corp. -   0,00%	Metal Content (x1,000 oz)
Total	Indicated	Margarita VEIN_2	1,075	112.8	3,901
		Margarita Vein_HG	779	332.1	8,316
		Total	1,854	204.9	12,217
	Inferred	Margarita VEIN_2	75	100.1	243
		Margarita Vein_2S	378	164.0	1,994
		Total	454	153.4	2,237

Mineral Resource Notes:

1. The effective date for the Margarita Project mineral resource estimate is April 08, 2022.
2. The  report includes only mineralization that is completely inside Magna's 100% owned mining concessions boundaries.
3. The mineral resources are reported based on an underground mining method scenario, assuming a recoverable crown pillar of 15 m, and constrained reasonable underground prospects for economic extraction.
4. The mineralized envelopes were modelled at a base case cut-off grade of 25.0 g/t Ag for Vein 2 and Vein 2 South and 300.0 g/t Ag for the High-Grade vein. The High-Grade vein is entirely contained within the south side of the Vein 2 envelope. All modelling work was conducted using Leapfrog Geo Software.
5. For the purposes of the mineral resource estimate the High-Grade vein resources, while contained within the Vein 2 envelope, are estimated exclusive of the Vein 2 resources.
6. Grade capping was applied to reduce the influence of outlier samples; 350.0 g/t Ag was used for the Low-Grade envelopes (Vein 2 & Vein 2 South) and 1,000.0 g/t Au was used for the High-Grade vein.
7. The economic parameters used to define mineral resources is a metal price of US$25.0 per troy ounce silver, an underground mining cost US$20.28/t, a processing cost of US$17.57/t and a G&A cost of US$4.57/t for a total of US$42.42/t mined and processed. The silver recovery was estimated at 78%.
8. The economic Ag cut-off grade calculated from the economic assumptions is 68.0 g/t Ag, however, Magna decided to report resources at 75.0 g/t Ag given the nature of high-grade continuity of the deposit.
9. The mineral resource has been categorized in the Indicated category for that portion where 3 or more drillholes are located within 80 m distance along strike and down dip, all remaining blocks remain in the Inferred category.
10. The mineral resources presented here were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council May 10, 2014.
11. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or other relevant issues.
12. The mineral resource estimate has been prepared without reference to surface rights or the potential presence of overlying public infrastructure.
13. Figures may not total due to rounding.

Sensitivity Report: By zone and grade without reference to Classification (global)

Zone	Ag_Cut-off Grade	Tonnage (Kt)	Average Grade (Ag g/t)	Metal Content (x1,000 oz)	Cumulative Tonnage (Kt)	Weighted Average Grade (Ag g/t)	Cumulative Metal Content (x1,000 oz)
Margarita VEIN_HG	50	0.2	67.2	0.4	773	331.4	8,235
	68	0	—	0	773	331.5	8,235
	75	2	86.9	7	773	331.5	8,235
	100	3	119.1	10	770	332.2	8,228
	125	11	137.3	49	768	333.0	8,218
	150	20	164.5	107	756	335.9	8,169
	175	42	189.5	259	736	340.6	8,062
	200	135	225.2 Werbung Mehr Nachrichten zur Affiliated Managers Group, Inc. 6.375% Senior Notes due 2042 Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 11:18 - ARIVA.DE Redaktion Deutsche Post-Aktie heute gut behauptet: Aktienwert steigt (39,00 €) 11:16 - ARIVA.DE Redaktion Aktie von Infineon: Kurs steigt nur geringfügig (33,10 €) 02:00 - PR Newswire Ashoka WhiteOak Emerging Markets Trust Plc - Quarterly Update - March 2024 Basin Uranium - Es geht los    Der Uran-Superzyklus ist gestartet! weiterlesen» Anzeige wo-site-teaser-box-16791_site-teaser-box_2024-04-29_07%253A00%253A00_2024-04-30_09%253A00%253A59