Magna Mining Inc (TSX-V:NICU) told investors that initial assays from a definition drilling program at its Crean Hill Mine in Sudbury, Ontario, support its new thesis that there are high-grade, structurally controlled systems running through the 109 Footwall (FW) Zone.
Highlights from the news assays from a series of short, near-surface drillholes immediately beneath the surface exposure of the FW Zone include 0.7% nickel (Ni), 0.6% copper (Cu), and 8.7 grams per tonne (g/t) platinum, palladium and gold (Pt + Pd + Au) over 31 metres (m) in hole MCB-23-003, and 0.3% Ni, 0.8% Cu and 9.0 g/t Pt + Pd + Au over 21m in hole MCB-23-007.
“These high-grade trends are not well represented in the current Mineral Resource Estimate but will be incorporated into future resource updates,” Magna CEO Jason Jessup said in a statement.
“Magna is currently planning an advanced exploration bulk sampling program at surface from this area of the 109 FW Zone. We are expecting to complete this bulk sample before the end of this year in advance of a possible underground advanced exploration program commencing in early 2024.”
The company noted that the 109 FW Zone is considered a low sulphide, high-grade Pt+Pd+Au mineralized zone, hosted within a breccia system extending southwest from the historically mined Main Zone contact Ni-Cu orebody.
Drilling in 2022 and early 2023 has identified extremely high-grade, semi-massive to massive sulphide mineralization within the overall low sulphide mineralized zone.
A program comprised of 26 short drillholes ranging from 15m to 50m has been completed, with the objective of defining the distribution and continuity of semi-massive to massive sulphides.
The company said at least two structurally controlled, high-grade trends have been recognized within the 109 FW Zone, which will improve the geological modeling and will be incorporated into future resource estimates.
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 stephen.gunnion@proactiveinvestors.com