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Magna Mining's Initial 2021 Drilling Intersects 33.8 Metres of Ni-Cu-PGM Mineralization in the Gap Zone at the Shakespeare Project, Ontario, Canada
Sudbury, Ontario--(Newsfile Corp. - June 24, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna"...
About this update from Magna Mining Inc
[{"type":"text","content":"Magna Mining's Initial 2021 Drilling Intersects 33.8 Metres of Ni-Cu-PGM Mineralization in the Gap Zone at the Shakespeare Project, Ontario, CanadaSudbury, Ontario--(Newsfile Corp. - June 24, 2021) - Magna Mining Inc. (TSXV: NICU) (\"Magna\" or the \"Company\") is pleased to announce drill results for the first two drill holes at its Shakespeare Project, located near Sudbury, Ontario. Diamond drilling on the Shakespeare Project commenced in late April, with one diamond drill focused on better defining the area between the East and West zones, referred to as the Gap Zone, and at depth, below the East Zone. Drillhole MMC-21-15 intersected 0.51% Nickel Equivalent (\"Ni Eq\") over 33.8 metres in the Gap Zone, thereby supporting the Company's thesis that the existing NI 43-101 Mineral Resource estimate can be expanded in this near-surface part of the Shakespeare deposit. Jason Jessup, Chief Executive Officer of Magna, stated, \"We are pleased to report the first assay results received from our ongoing exploration program on the Shakespeare Project. Results from hole MMC-21-15 demonstrate the near surface exploration potential of the project, as well as the potential to significantly increase Mineral Resources.\"\"Of the planned 9,000 metre diamond drilling program to date, we have completed 2,426 metres in 11 drillholes. Additionally, 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. 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. We are encouraged by the results to date, including drillhole MMC-21-15, which intersected significant mineralization outside of the current Mineral Resource and extending outside of the 2021 open pit resource shell. Magna looks forward to providing additional updates as the 2021 exploration program progresses and assay results are received,\" stated Jason Jessup.The Gap Zone currently separates the Shakespeare West and East mineral resources (Figure 1). Six drillholes targeted the Gap Zone area, and results have been received for two holes. Table 1 summarizes drilling and assays...