Magna Terra Minerals Buys Shellbird Gold Project in Western Newfoundland Via Staking
Magna Terra Minerals (MTT.V) on Thursday said it acquired the Shellbird Gold project in western Newfoundland.The project runs along the projection of the regional-scale Doucer's Valley Fault Zone (DVFZ) and is made up of five mineral licenses totaling 30,650 hectares.The project covers a 35-kilometer extent of the regional-scale Doucer's Valley Fault Zone and associated fault splays."Historic, early-stage prospecting for precious metals on the property led to some encouraging grab sample results of up to 2.33 g/t gold that were never followed up on, and our team is excited to complete this essential generative work this spring," said chief executive Lew Lawrick.Shares of the company were last seen up $0.005 to $0.165 on the TSX Venture Exchange.Price: $0.17, Change: $+0.01, Percent Change: +3.13%
