Magna Mining Inc. [NICU-TSXV; MGMNF-OTCQB; 8YD-FSE] reported additional assay results from the continuing 2023 diamond drilling program at the Crean Hill nickel project, Ontario. A portion of the assay results today represent confirmation of a shallow zone of massive sulphides in the vicinity of MCR-22-005. This is one of the areas that the company is planning to include as part of the advanced exploration and test mining program in 2024. Two drill holes, MCR-23-041 and MCR-23-042, tested down dip to the north and south of drill hole MCR-22-005.
Highlights from the new assay results include (101 footwall zone) drill hole MCR-23-041 that returned 3.0% nickel, 0.7% copper and 1.2 g/t platinum plus palladium plus gold over 31.6 metres. MCR-23-042 returned 4.2% Ni, 1.4% Cu and one g/t Pt+Pd+Au over 27.6 metres.
Dave King, senior vice-president of technical services, stated: “The assay results released today are an example of wide, high-grade massive sulphide nickel mineralization remaining at shallow depths within the Crean Hill deposit. This drilling, in conjunction with some of the historic INCO drilling, further defines the strike and dip of the core of the 101 footwall zone. Our recently released preliminary economic assessment (PEA) did not include any of the drilling executed by Magna since acquiring the property, and these results are not reflected in the current block model and mineral resource. We are now using this information in the detailed design of our advanced exploration and test mining program that we plan to initiate in the first half of 2024.”
In addition to the 101 FW drilling, four exploration drill holes were completed to better define the footwall breccia trends on the Crean Hill property. These holes confirmed the presence of footwall breccias trending southwest from the known 101 FW and 109 FW zones. The company did not expect to intersect mineralization in these holes, only to test for the presence of footwall breccias deep in the footwall rocks.
Magna Mining is an exploration and development company focused on nickel, copper and platinum group metal projects in the Sudbury region of Ontario, Canada. The company’s flagship assets are the past-producing Shakespeare and Crean Hill mines. The Shakespeare mine is a feasibility-stage project that has major permits for the construction of a 4,500-tonne-per-day open-pit mine, processing plant and tailings storage facility, and is surrounded by a contiguous 180 km2 prospective land package. Crean Hill is a past-producing nickel, copper and PGM mine with a technical report dated August 2022.