Magna Mining Inc. [NICU-TSXV] reported additional assay results from the continuing 2023 diamond drilling program. Drilling continues to intersect high-grade nickel mineralization in the 105 footwall (FW) zone, including drill hole MCR-23-040 which intersected 4.2% Ni (nickel), 0.9% Cu (copper), 1.4 g/t Pt-Pd-Au (platinum-palladium-gold) over seven metres at Crean Hill, Sudbury region, Ontario.
Highlights from the new assay results include the 105 FW zone where drill hole MCR-23-040 returned 4.2% Ni, 0.9% Cu and 1.4 g/t Pt-Pd-Au over seven metres.
MCR-23-046 returned 0.2% Ni, 1.2% Cu and 6.3 g/t Pt-Pd-Au over 5.2 metres and 2.7% Ni, 1.5% Cu and 18.1 g/t Pt-Pd-Au over 0.9 metres.
MCR-23-050 returned 1.1% Ni, 0.6% Cu and 4.3 g/t Pt-Pd-Au over 8.8 metres and 0.6% Ni, 3.5% Cu, and 10.1 g/t Pt-Pd-Au over 1.1 metres.
Dave King, SVP Technical Services stated, “The 105 FW Zone is similar to the 101 FW Zone, and consists of high nickel tenor, semi massive to massive sulphide veins hosted within a breccia structure extending into the footwall from the Sudbury Igneous Complex (“SIC”). Additional diamond drilling within the 105 FW zone continues to intersect high grade mineralization with increasing precious metals (Pt, Pd, Au) as this structure approaches the Main Zone. We are encouraged to see high grade PGE mineralization at the 1500 ft level, down-plunge of the defined 109 FW zone, where these two structures are interpreted to intersect, indicating this style of mineralization may continue to depth.”
The 105 FW diamond drilling to date has been focused on expanding the current Indicated Mineral Resource, with the objective of better understanding the geologic controls on mineralization and grade continuity. Two high grade, precious metal rich, intersections in drill hole MCR-23-040, grading 0.3% Ni, 0.8% Cu, 38.6 g/t Pt-Pd-Au over 0.3 metres and 0.2% Ni, 0.5% Cu, 35.2 g/t Pt-Pd-Au over 0.5 metres are related to the 109 FW zone. These two intersections are outside of the current 109 FW Mineral Resource and have potential to add near surface resource which could be amenable to more selective mining methods.
Additional exploration assay results released today are from the G1 and G2 contact exploration targets, as well as the remaining assays from the near surface drilling on the 109 FW zone entitled “Summary of assay results.”
Diamond drilling is ongoing at Crean Hill, with one diamond drill currently focused on deep footwall exploration.
Magna Mining is an exploration and development company focused on nickel, copper and PGM 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 which 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.