Magna Mining Inc (TSX-V:NICU). said assay results from its ongoing diamond drilling program at Crean Hill include hole CR-23-014 from the G1 Zone with 1.0% nickel, 0.8 % copper, 0.2 grams per ton (g/t) platinum and palladium and gold over 5.2 metres (m).
At the G1 Zone, drillholes MCR-23-014 to MCR-22-18 were designed to define the plunge of the mineralization, and intersected a narrow zone of nickel-copper (Ni-Cu) mineralization from surface to the 65m level, the company said.
Another highlight was hole MCR-23-019 in the 109 FW Zone with 0.2% nickel, 0.3 % copper, 8.0 g/t platinum and palladium and gold over 28.4m.
Drillhole MCR-23-019 was drilled within the 109 FW Zone to better define the true width of the mineralized breccia.
"These results are encouraging, and the information provided allows our exploration team to develop a better understanding of the geological controls on the property. Although these results are not as exceptional as some of our previous results, we are extremely pleased to continue to intersect not only high grade PGM's in the 109 FW Zone, but to start to define a new zone of near-surface mineralization elsewhere on the property which is open below 65 metres from surface,” Dave King, SVP Technical Services, said in a statement.
“The Crean Hill deposit was historically mined to depths below 1400 metres, so we have a large area below these intersections to explore. We have identified another exploration target further to the east of G1, which we call the G2 target, and drilling has been initiated on the G2 target as well. The exploration potential of the Crean Hill property is quite exceptional."
The company said it has two diamond drill rigs operating at Crean Hill since mobilizing a second drill rig in early April. In the year to date, 47 drillholes have been completed for 8,145m of drilling, with the results of nine holes reported to date from the 2023 drilling program.
It added that 4,966 samples have been sent for analytical analysis in the year to date with approximately 2,124 assays currently outstanding.
“Magna currently anticipates completing a total of 15,000 to 18,000m of drilling at Crean Hill in 2023,” the company said.
In mid-June, a third drill rig will start a 5,000m program at the company's Shakespeare Mine to follow up on the 2022 exploration holes that identified a potential feeder system and test other high-priority targets identified at depth adjacent to the deposit.
Magna added that the Crean Hill and Shakespeare drilling programs are fully funded for 2023.
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.
Contact the author at jon.hopkins@proactiveinvestors.com