Magna Mining Inc (TSX-V:NICU) has reported additional assay results from its ongoing 2023 diamond drilling program which continues to intersect high-grade nickel mineralization at its flagship Crean Hill mine.
The company said drilling at the 101 Footwall (FW) Zone and the 105 FW Zone intersected 6.0% Ni (nickel), 2.2 % Cu (copper), 5.8 grams per ton (g/t) Pt + Pd + Au (platinum + palladium + gold) over 2.2 metres.
The latest assay results released are from the 101 FW, 105 FW and 9400 FW Zones which were designed to extend known mineralized zones beyond the current mineral resource models. The company said drilling to date has demonstrated good continuity of sulphide veins within the current mineral resource, and recent drilling has extended both of these zones beyond where they are currently modelled.
"Diamond drilling is ongoing at Crean Hill, where two drill rigs remain active. The assays released today include results from our initial drilling within the 105 FW Zone, which is a high tenor nickel zone similar to the 101 FW Zone, and hosted within a footwall breccia structure trending southwest from the Main Contact Zone,” Dave King, Magna Mining's SVP Technical Services, said in a statement.
“Both the 101 FW and the 105 FW Zones have the potential to produce high-grade nickel ore using selective mining methods. Although some of the assay intervals released today are narrow, this style of massive sulphide veins can pinch and swell over relatively short distances, and it is encouraging to see these zones extending beyond the current Mineral Resource models. Diamond drilling is ongoing in these areas, and we look forward to providing additional assay results as they are received," he added.
Drillhole MCR-23-023 targeted the 9400 FW Zone, southwest of the known mineralization and intersected high-grade platinum, palladium and gold in low sulphide mineralization approximately 30 metres southwest of the current Mineral Resource.
Drillholes MCR-23-020, MCR-23-021 and MCR-23-024 were designed to test both the 105 FW Zone and the 101 FW Zone. The Footwall breccias are commonly associated with the mafic volcanic and metasediment contacts and can provide a structural corridor for sulphide mineralization to extend into the footwall environment of the Sudbury Igneous Complex (SIC).
Magna Mining is focused on nickel, copper and PGM projects in the Sudbury Region of Ontario. The company's flagship assets are the past-producing Shakespeare and Crean Hill Mines.
Contact the author at jon.hopkins@proactiveinvestors.com