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Exploration

Exploration works prior to Magna Gold Corp

Prior to Magna's acquisition of the San Francisco operation, the project had undergone multiple exploration works. There are historical drilling records dating from 1996 through 2018, time at which the most recent drilling campaign was carried out. Since then, more than 500,000 meters of drilling have accumulated. The following table shows the drilling campaigns carried out at the San Francisco mining unit.

Period Number of Holes Total Metres (m)
1996 - 2003 1,059 107,149
2005 14 1,468
2006 27 4,641
2007 30 3,362
2008 41 2,589
2009 141 12,249
2010 570 63,086
2011 662 115,881
2012 127 26,748
2013 461 102,723
2014 93 11,210
2015 21 2,135
2016 69 11,390
2017 200 33,543
2018 43 4,662
Total 3,558 502,837

Figures 2 and 3 below show locations where holes were drilled years 2016-2017 and the drilling works carried out in previous years

Exploration Works by Magna Gold Corp

Magna is to conduct project data review and quality of data validation in order to create a new geological model. Once completed, an updated resources estimate will follow. The company will be reviewing metallurgical information and key economic parameters in order to evaluate the potential economics of an open pit gold mine and a heap leach extraction facility.

 

Figure 2

Location of the In-Fill Drilling Program in the Area of the San Francisco Pit

Location of the In-Fill Drilling Program in the Area of the San Francisco Pit

Figure 3

Location of the In-Fill Drilling Program in the Area of the La Chicharra Pit

Location of the In-Fill Drilling Program in the Area of the La Chicharra Pit

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