Business
Magna Mining Announces High-Grade Intercepts near Surface in the 109 Footwall Zone
Including 5.9% Ni, 2.0 % Cu, 12.4 g/t Pt + Pd + Au Over 3.2 m Sudbury, Ontario--(Newsfile Corp. ...
About this update from Magna Mining Inc
[{"type":"text","content":"Magna Mining Announces High-Grade Intercepts near Surface in the 109 Footwall ZoneIncluding 5.9% Ni, 2.0 % Cu, 12.4 g/t Pt + Pd + Au Over 3.2 mSudbury, Ontario--(Newsfile Corp. - June 7, 2023) - Magna Mining Inc. (TSXV: NICU) (FSE: 8YD) (\"Magna\" or the \"Company\") is pleased to release initial assays from a series of short, near surface drillholes immediately beneath the surface exposure of the 109 Footwall (\"FW\") Zone. The assay results reported wide, high- grade intercepts including 0.7% Ni, 0.6% Cu, and 8.7 g/t Pt + Pd + Au over 31 m in hole MCB-23-003, and 0.3% Ni, 0.8% Cu, and 9.0 g/t Pt + Pd + Au over 21 m in hole MCB-23-007 (see Table 1). These high-grade intersections are not well represented in the current resource model. As a result of confirming high-grade mineralization in this section of the 109 FW Zone, Magna is now planning a surface, advanced exploration bulk sample program to better define the grade and continuity of mineralization in this area. Results for 16 of 26 short drillholes completed have been received so far.Highlights from the new assay results include:MCB-23-003: 0.7% Ni, 0.6 % Cu, 8.7 g/t Pt + Pd + Au over 31.0 metres, including 5.9 % Ni, 2.0% Cu and 12.4 g/t Pt + Pd + Au over 3.2 metres, MCB-23-007: 0.3% Ni, 0.8 % Cu, 9.0 g/t Pt + Pd + Au over 21.0 metresincluding 1.9 % Ni, 1.5% Cu and 49.1 g/t Pt + Pd + Au over 1.9 metres MCB-23-012: 0.4% Ni, 0.6 % Cu, 18.9 g/t Pt + Pd + Au over 13.0 metresincluding 0.8 % Ni, 1.1% Cu and 44.9 g/t Pt + Pd + Au over 4.9 metres Jason Jessup, CEO of Magna, stated, \"The assay results reported today are part of a definition drilling program to improve our understanding and modelling of the 109 FW Zone. The intersections received to date support our new thesis that there are high-grade, structurally controlled systems running through the 109 FW Zone. These high-grade trends are not well represented in the current Mineral Resource Estimate but will be incorporated into future resource updates. Magna is currently planning an advanced exploration bulk sampling program at surface from this area of the 109 FW Zone. We are expecting to complete this bulk sample before the end of this year in advance of a possible underground advanced exploration program commencing in early 2024.\"The 109 FW Zone is considered a low sulphide, high-grade Pt+Pd+Au mineralized zone, hos...