Magna Mining drills 4% nickel 31.06 metres at Crean Hill mine, Ontario

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Magna Mining Inc. [NICU-TSXV] reported additional assays received from the November, 2022, drill program at its Crean Hill mine, Sudbury, Ontario. Drill hole MCR-22-005 was designed to follow up on previously announced high-grade nickel mineralization intersected in the 101 Footwall (FW) zone in drill hole MCR-22-003 .Hole MCR-22-005 intersected mineralization grading 4% nickel (Ni), 0.7% copper (Cu), 0.7 g/t plantium-palladium-gold (Pt-Pd-Au) over 31.1 metres, including two massive sulphide intervals grading 6.5% Ni, 1% Cu, 0.5 g/t Pt-Pd-Au over f5  metres, and 5.7% Ni, 0.7% Cu, 0.8 g/t Pt-Pd-Au over 16.1 metres. Diamond drilling for the 2023 drill program at Crean Hill is scheduled to resume January 9, 2023, with 15,000 metres of drilling currently budgeted for the full year.

Highlights included Drill hole MCR-22-005 that intersected 4.0% Ni, 0.7% Cu, 0.7 g/t Pt+Pd+Au over 31.1 metres, including 6.5% Ni, 1.0% Cu, 0.5 g/t Pt+Pd+Au over 5.0 metres, and 5.7% Ni, 0.7% Cu, 0.8 g/t Pt+Pd+Au over 16.1 metres in the 101 FW Zone.

The 101 FW Zone represents an area of high grade, massive sulphide mineralization over significant widths that was un-mined by prior operators. 101 FW Zone mineralization is hosted within an approximately 70-metre wide footwall breccia package which remains open for exploration down-dip and along strike.

David King, Senior Vice President for Magna, commented, “We are excited to announce additional assay results from our current drilling at Crean Hill. These assay results from drill hole MCR-22-005 are the second set of assay results received from the 101 FW Zone, and they demonstrate the continuity of high-grade, massive sulphide mineralization within the footwall breccia zone. The 2022 drilling has improved our geological understanding of the 101 FW Zone mineralization and these results will enable Magna to effectively explore along strike and down-dip of the known mineralization, as well as explore for additional, similar mineralization within the footwall environment at Crean Hill. Additional assay results are expected over the coming weeks and will be announced shortly thereafter.”

In 2022, four drill holes, MCR-22-003 to MCR-22-006, targeted the 101 FW zone below historical mining. This area was not a focus of previous Lonmin Canada Inc. drilling as it is not considered a low-sulphide, high PGE system. The 101 FW Zone consists of disseminated to locally massive sulphide, hosted within a footwall breccia system, extending southwest into the footwall of the Intermediate Zone. Sudbury footwall orebodies are commonly hosted within breccia systems, and often are elevated in Ni, Cu and PGE mineralization, relative to typical Sudbury Igneous Complex (SIC) contact mineralization. Drill hole MCR-22-005 was targeted above previously released drill hole MCR-22-003, and intersected significant massive sulphide intervals of high grade nickel mineralization. A zone of lower sulphide mineralization with increased precious metals, grading 0.2 % Ni, 0.2% Cu, 1.3 g/t Pt+Pd+Au was also intersected below the massive suphide zone. The 101 FW Zone breccia system remains open for exploration and expansion to the southwest and down-dip of the historical mining.

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 an updated technical report dated August 2022.

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