Magna Mining's Crean Hill fully permitted for advanced exploration and test mining

Magna received confirmation that the Permit to Take Water for the Crean Hill Project has been approved by the Ministry of Environment, Conservation and Parks (MECP). This is the final permit required to enable dewatering of the existing mine workings and allow Magna to move forward with their advanced exploration plan, including a surface bulk sample and development of a ramp from surface to perform test mining in the 101 Footwall, 109 Footwall and Intermediate Zones. The tonnage of the mineralized rock from the surface and underground test mining is estimated at 400,000 tonnes, which will be crushed on surface, sampled, and shipped to a third-party mill for processing, under the terms of the Off-Take Agreement announced on March 27, 2024 (see News Release).

Jason Jessup, CEO of Magna Mining stated, "We are extremely pleased to have received the Crean Hill Permit to Take Water, as Magna now has all the approvals and permits necessary to conduct both our surface and underground advanced exploration programs. We acquired the Crean Hill Project in November 2022, and have advanced it to this point in only 17 months. This is a remarkable accomplishment and a testament to our team and the jurisdiction in which we are building our company. Magna plans to initiate the surface bulk sample on the 109 FW Zone by the end of Q2 2024, and commence portal construction and underground advanced exploration in the second half of 2024." 

Recent drilling in the 109 FW Zone has intersected high grade copper, nickel and precious metal mineralization (see News Releases dated April 3, 2024, and February 20, 2024), which have helped to define the core of the 109 FW Zone. This area of the 109 FW will be targeted as part of the early underground test mining. The test mining program will allow reconciliation against the current resource block model, confirm continuity of the high-grade mineralization and further de-risk the project. Currently the Company is drilling several short diamond drill holes in the area of the surface bulk sample which will facilitate the final bulk sample design. Results of this drilling are expected to be received in early May 2024. A second drill is active testing geophysical anomalies in the footwall environment, approximately 300m south of the Main Contact Zone at Crean Hill (click here to see a video providing an explanation of Sudbury footwall deposits).

The underground advanced exploration program will also include areas of the 101 FW Zone and Intermediate Contact Zone, which were drilled by Magna in 2023. Highlights of this drilling include holes MCR-22-005 which intersected 4.0% Ni, 0.7% Cu and 0.7 g/t Pt+Pd+Au over 31.1 metres, and MCR-23-042 which intersected 4.2% Ni, 1.4% Cu and 1.0 g/t Pt+Pd+Au over 27.6 metres (see Table 1 for all 101 FW Zone drilling).

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