- Magna Mining (NICU) starts drilling at the Crean Hill mine and intersects massive sulphides
- The Denison location is showing semi-massive to massive sulphides over 10.7 metres
- The historical stope models, geological models, and overall quality of mineral resources at Crean Hill have all been accurate
- Magna Mining (NICU) is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada
- Magna Mining (NICU) is trading at C$0.51 at 3:25 pm ET
Magna Mining (NICU) starts drilling at the Crean Hill mine and intersects massive sulphides. The Denison location is showing semi-massive to massive sulphides over 10.7 metres.
The Denison project has drilled 3 holes so far. All 3 holes are showing mineralization as expected, including massive sulphide mineralization in drill-hole MCR-22-003. The image below demonstrates adjacent significant land tenure.
MCR-22-003 Massive Sulphide
Stantec Consulting agrees to complete the Preliminary Economic Assessment (PEA). The PEA will be used to demonstrate the potential economics of the Denison Project. It also identifies and quantifies synergies with the company’s previous Shakespeare project. As well as make recommendations for additional work to support a future Pre-feasibility Study.
So far, the historical stope models, geological models, and overall quality of mineral resources at Crean Hill have all been accurate. The initial drilling program at Crean Hill will determine if there is to be advanced exploration and potential bulk sampling is done.
The first 2 holes near surface Cu-Ni Sudbury Igneous Complex (SIC) contact mineralization within the open pit resource.
The 3rd drillhole intersected approximately 70 m of footwall breccia. It is trending southwest from the main SIC contact mineralization into the footwall rocks. Targeting below and adjacent to historically mined stopes. It confirms mineralization continues down-dip and along strike to the southwest.
There is local dissemination of stringer mineralization throughout. It includes massive sulphide mineralization from 168.1-169.8 and 173.1-178.8 metres downhole.
In 2023, Magna is budgeting 12,000 to 15,000 metres of drilling that will be focused on expanding on the existing mineral resources and testing new exploration targets in the footwall of the SIC as well as contact nickel and copper targets just east.
Magna Mining (NICU) is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada.
Magna Mining (NICU) is trading at C$0.51 at 3:25 pm ET.
