Magna Mining Inc (TSX-V:NICU) said additional assay results from its 2023 diamond drilling continue to intersect high-grade nickel mineralization in the 105 Footwall (FW) Zone.
A highlight was drillhole MCR-23-040 which intersected 4.2% Ni, 0.9 % Cu and 1.4 grams per tonne (g/t) Pt + Pd + Au over 7.0 metres (m), the company said in a statement which includes other key findings.
Drilling at the 105 FW diamond has been focused on expanding the current Indicated Mineral Resource, the company said, noting that two high-grade, precious-metal-rich intersections in drillhole MCR-23-040, grading 0.3% Ni, 0.8 % Cu, 38.6 g/t Pt + Pd + Au over 0.3m and 0.2% Ni, 0.5% Cu, 35.2 g/t Pt + Pd + Au over 0.5m, are related to the 109 FW zone.
“These two intersections are outside of the current 109 FW Mineral Resource and have potential to add near surface resource which could be amenable to more selective mining methods,” the company said, adding that at Crean Hill, diamond drilling is ongoing with one diamond drill currently focused on deep footwall exploration.
"The 105 FW Zone is similar to the 101 FW Zone, and consists of high nickel tenor, semi massive to massive sulphide veins hosted within a breccia structure extending into the footwall from the Sudbury Igneous Complex,” Dave King, SVP Technical Services, said.
“Additional diamond drilling within the 105 FW zone continues to intersect high grade mineralization with increasing precious metals (Pt, Pd, Au) as this structure approaches the Main Zone. We are encouraged to see high grade PGE mineralization at the 1500 ft level, down-plunge of the defined 109 FW zone, where these two structures are interpreted to intersect, indicating this style of mineralization may continue to depth," he added.
Magna Mining focuses on nickel, copper and PGM projects in the Sudbury region of Ontario in Canada. Its flagship assets are the past producing Shakespeare and Crean Hill Mines.