[Recorded on January 30th, 2026] Jason Jessup, CEO and Director of Magna Mining (TSX.V: NICU) (OTCQX: MGMNF), joins us for a Q4 operations and exploration review at their producing McCreedy West copper mine, located in Sudbury, Ontario, Canada. We also review the continued high-grade drill results across copper, nickel, platinum, palladium, gold, and silver in more recent assays returned from the ongoing exploration and development work at the Levack Mine.
Q4 Operational Highlights:
- During the quarter, McCreedy West produced 84,953 tons of ore from the 700 Copper Zone at an average grade of 1.31% copper, 0.23% nickel, 1.05 g/t platinum, 1.10 g/t palladium, 0.45 g/t gold and 15.51 g/t silver. This was an increase of 13% over Q3 as mining rates increased in November and December, following the compressed air system failure and the power related delays.
- Underground development during the quarter totaled 1,688 feet, in line with Company forecasts.
- With three underground diamond drill rigs turning at McCreedy West during the quarter, the drilling totaled 29,334 feet, an increase of 91% over Q3 2025.
- Magna’s development crews are now fully staffed and we no longer are using mining contractors for our underground development.
- The results of a Life of Mine (“LOM”) plan for McCreedy West, which will include our maiden reserve estimate, is expected to be released in the coming weeks in conjunction with our 2026 guidance.
Jason mentioned ending 2025 on a high note for November and December operations, with strong fourth quarter production, combined with excellent development and diamond drilling footage. This has allowed the operations team to remove low grade stopes from their mining plans and focus on quality production. Although copper is our most important metal at McCreedy West, the grades for gold, platinum and palladium during Q4 were more than double what was mined in Q3, and silver grades were up more than 40% during a period of strong precious metals prices. This highlights the unique polymetallic nature of Sudbury deposits, providing the flexibility to tailor mining operations to the prevailing commodity price trends.
Wrapping up we widened the scope beyond just the currently producing McCreedy West mine, to the exploration and development of the Levack Mine as another flagship asset in their portfolio. There has been a continuous series of positive polymetallic drill results coming back from different areas of the Levack Mine, with many of those consolidated into the Mineral Resource Estimate on December 31st. The Company is doing background mining planning and resource modeling to move Levack towards a mine plan of operations later in the year, which will set up the decision to move this mine back into production.
If you have questions for Jason regarding Magna Mining, then please email me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Magna Mining at the time of this recording, and may choose to buy or sell shares at any time.
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