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Magna Mining Announces Closing of Property Acquisition from NorthX Nickel Corp.
Sudbury, Ontario--(Newsfile Corp. - July 21, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF...
About this update from Magna Mining Inc
[{"type":"text","content":"Magna Mining Announces Closing of Property Acquisition from NorthX Nickel Corp.Sudbury, Ontario--(Newsfile Corp. - July 21, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) (\"Magna\" or the \"Company\") is pleased to report that further to its news release dated December 18, 2024, the Company has completed its acquisition of a portfolio of exploration properties located in the Sudbury Basin (the \"Transaction\") from NorthX Nickel Corp. (CSE: NIX) (\"NorthX\").The NorthX properties being acquired represent 304 km2 of mineral claims, leases and patents in the Sudbury area. The acquisition of the NorthX property portfolio brings Magna's aggregate holdings in the Sudbury area to 584 km2 (see Figure 1). Paul Fowler, Senior Vice President of Magna commented, \"We are excited to complete this transaction and add a significant new portfolio of properties to our already strong pipeline of development and exploration projects in Sudbury. We believe that these assets have high potential for new discoveries, as many of these properties are in areas that would correspond to the footwall of known Sudbury deposits. We believe that they are deserving of more exploration capital, so we are looking forward to further evaluating these properties and applying our experience and knowledge of exploration in the Sudbury Basin.\"Figure 1: Location of Magna Mining's Existing Properties, Operations and the NorthX Acquisition PropertiesTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8002/259404_ac42e6fb24bd1936_002full.jpgProperty Descriptions The property portfolio includes past-producing properties (Parkin, Wisner), as well as several exploration properties mainly in the footwall of the Sudbury Igneous Complex (SIC) contact, and totaling >30,000 Ha. Magna believes these properties have significant exploration potential remaining, including offset dyke environments at Trill and Parkin, contact Ni-Cu mineralization at Windy Lake, and several properties in the footwall environment (Figures 1 and 2). The Parkin property covers more than 9 kilometres of the Parkin offset, northeast of the Podolsky Mine property. The property hosts the historical Milnet mine with past production of 157,000 tons grading 1.5% Ni, 1.5% Cu, and 6.2 g/t Pt + Pd + Au, and the high-grade Milnet 1500 Zone ...