Source: Magna Mining
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  • Magna Mining Inc. (NICU) has announced drill results for the first two drill holes at its Shakespeare Project
  • Two drill holes, MMC-21-14 and MMC-21-15, have been assayed so far, returning promising results in the Gap Zone and East Zone
  • Assays are pending for the remaining 9 holes drilled to date
  • Magna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario
  • Magna Mining Inc. (NICU) opened trading at $0.45 per share

Magna Mining Inc. (NICU) has announced drill results for the first two drill holes at its Shakespeare Project near Sudbury, Ontario.

Diamond drilling commenced in late April, and crews have completed 2,426 metres of drilling in 11 drill holes to date.

“Additionally,” said Jason Jessup, Magna CEO, “we have successfully progressed three of the 2021 exploration program objectives.”

“Firstly, drilling to date has advanced our understanding of the geological controls on Shakespeare mineralization,” he added. “In addition, we have now identified substantial nickel-copper-PGM mineralization in proximity to our open pit resource and have established platforms for downhole geophysical surveys, which will help guide additional drilling in 2021.”

Two drill holes, MMC-21-14 and MMC-21-15, have been assayed so far, returning the following results in the Gap Zone:

  • 08 per cent copper, 0.13 per cent nickel, 0.01 per cent cobalt, 0.15 g/tonne lead, 0.16 g/tonne palladium, and 0.08 g/tonne gold over 2.0 metres in hole MMC-21-14, starting at 63.0 metres
  • 37 per cent copper, 0.34 per cent nickel, 0.03 per cent cobalt, 0.32 g/tonne lead, 0.42 g/tonne palladium, and 0.24 g/tonne gold over 21.6 metres in hole MMC-21-15, starting at 90.5 metres

In the East Zone, hole MMC-21-15 intersected 0.51 per cent copper, 0.39 per cent nickel, 0.02 per cent cobalt, 0.45 g/tonne lead, 0.49 g/tonne palladium, and 0.25 g/tonne gold over 2.8 metres, starting at 131.9 metres.

Assays are pending for the remaining 9 holes drilled to date.

Two drill holes, MMC-21-18 and MMC-18-07 extension, were completed beneath the East Zone and extended into the footwall of the known deposit. These will provide platforms for downhole geophysical surveys.

Magna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury region of Ontario.

The company’s flagship asset is the past-producing Shakespeare Mine.

Magna Mining Inc. (NICU) opened trading at $0.45 per share.

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