Magna Mining Inc (TSX-V:NICU) has released additional assay results from the ongoing 2023 diamond drilling program at the Crean Hill Nickel Project in northern Ontario, which included 3.0% nickel, 0.7% copper, and 1.2 grams per tonne (g/t) platinum + palladium + gold over 31.6 metres (m).
The exploration and development company said a portion of the assay results represents confirmation of a shallow zone of massive sulphides in the vicinity of drill hole MCR-22-005.
"The assay results released today are an example of wide, high-grade, massive sulphide nickel mineralization remaining at shallow depths within the Crean Hill deposit," Magna Mining senior vice president of technical services Dave King said in a statement.
"Our recently released Preliminary Economic Assessment (PEA) did not include any of the drilling executed by Magna since acquiring the property, and these results are not reflected in the current block model and Mineral Resource," he added.
Magna Mining noted that the advanced exploration program that is set to begin in 2024 will provide underground drilling platforms allowing detailed definition of the zone, which has potential to provide high-grade, potentially mineable resources early in mine life, which was not represented in the recent PEA.
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 Sean at sean@proactiveinvestors.com