Magna Mining – More High-Grade Drill Results Returned From The Crean Hill Mine Project
Jason Jessup, President and CEO of Magna Mining (TSX.V: NICU), joins us for an exploration update at the Crean Hill Mine Project, and at the Shakespeare Project, as well as the potential development strategy at both areas, and the ultimate pathway towards production in Sudbury.
We start off by reviewing the importance of the recent high-grade drill intercepts of nickel, copper, platinum and palladium in the 101 and 109 Footwall Zones that the company has been exploring.
- Drillhole MCR-22-005, 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
- Drillhole MCR-22-010, intersected 0.4 % Ni, 0.5 % Cu, 7.2 g/t Pt+Pd+Au over 98.3 metres, including higher grade intervals grading 0.8 % Ni, 0.8 % Cu, 12.7 g/t Pt+Pd+Au over 44.0 metres, including 3.7 % Ni, 2.8 % Cu, 20.2 g/t Pt+Pd+Au over 7.1 metres in the 109 FW Zone.
- The 109 FW Zone represents an area of high-grade mineralization extending into the footwall breccia that is associated with the Main Zone.
The discussion then shifts back to reviewing the upcoming PEA for the Crean Hill, how these new footwall zone discoveries could be brought into the front-end of the mine plan, and also how toll-milling could be utilized on the front-end for a low-cost launch into production and to build up capital to redeploy into the eventual buildout of the processing center at Shakespeare. There are 15,000 meters of drilling planned in 2023 for the Crean Hill Mine Project, and Jason also reviews the ongoing exploration success they’ve been having expanding the geometry and resources at the Shakespeare Project, with more results from 2022 still to report, and another 3,000 – 5,000 meters of follow-up drilling planned for 2023.
If you have questions for Jason regarding Magna Mining, then please email us either Fleck@kereport.com or Shad@kereport.com.