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Magna Mining Defines a Thick, High Grade Nickel Core in the 101 FW Zone at the Crean Hill Project
Sudbury, Ontario--(Newsfile Corp. - August 15, 2023) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGM...
About this update from Magna Mining Inc
[{"type":"text","content":"Magna Mining Defines a Thick, High Grade Nickel Core in the 101 FW Zone at the Crean Hill ProjectSudbury, Ontario--(Newsfile Corp. - August 15, 2023) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) (\"Magna\" or the \"Company\") is pleased to release additional assay results from the ongoing 2023 diamond drilling program at the Crean Hill Nickel Project (\"Crean Hill\"). A portion of the assay results today represent confirmation of a shallow zone of massive sulphides in the vicinity of MCR-22-005 (released on January 5, 2023). This is one of the areas that the Company is planning to include as part of the advanced exploration and test mining program in 2024. Two drillholes, MCR-23-041 and MCR-23-042, tested down-dip, to the north and south of drillhole MCR-22-005 (see Fig. 1). Highlights from the new assay results include:101 FW Zone MCR-23-041: 3.0% Ni, 0.7% Cu, 1.2 g/t Pt + Pd + Au over 31.6 metres MCR-23-042: 4.2% Ni, 1.4% Cu, 1.0 g/t Pt + Pd + Au over 27.6 metres Dave King, SVP Technical Services, stated, \"The assay results released today are an example of wide, high-grade, massive sulphide nickel mineralization remaining at shallow depths within the Crean Hill deposit. This drilling, in conjunction with some of the historic INCO drilling, further defines the strike and dip of the core of the 101 Footwall (\"101 FW\") Zone. Our recently released Preliminary Economic Assessment (\"PEA\") did not include any of the drilling executed by Magna since acquiring the property, and these results are not reflected in the current block model and Mineral Resource. We are now using this information in the detailed design of our advanced exploration and test mining program that we plan to initiate in the first half of 2024.\"The 101 FW Zone consists of semi-massive to locally massive sulphide veins, hosted within a footwall breccia system, extending southwest into the footwall of the Intermediate Contact Zone. Drilling to date in the 101 FW has defined a wide, high grade, massive sulphide core, transitioning to massive sulphide veins along strike and down-dip, within the footwall breccia structure (Figures 1 and 2). The advanced exploration program planned to commence in 2024 will provide underground drilling platforms allowing detailed definition of this zone, which has potential to provide high-grade, potentially mineable r...