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Magna Mining defines thick, high grade nickel core at Crean Hill Project

Aug 17, 2023

"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," said Dave King, SVP Technical Services. "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."

Magna Mining Inc. 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 

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 resources early in mine life, which was not represented in the recent PEA.

In addition to the 101 FW drilling, four exploration drillholes were completed to better define the footwall breccia trends on the Crean Hill property (Figure 3). These holes confirmed the presence of footwall breccias trending southwest from the known 101 FW and 109 FW Zones. The Company did not expect to intersect mineralization in these holes, only to test for the presence of footwall breccias deep in the footwall rocks. These Sudbury breccias are an important exploration criterion as they represent a potential pathway for mineralization into the footwall and are the primary lithology that hosts high-grade footwall deposits in Sudbury. Geological interpretation based on the results of these holes will be used to refine the position of deeper geophysical platform exploration drillholes, targeting potentially mineralized footwall breccias at depth.

The location of the diamond drillholes is illustrated in Figures 1-3, assay results are summarized in Table 1, and drillhole coordinates in Table 2.

Image removed.

Figure 1: Longitudinal Section of the Crean Hill 101 Footwall Zone. Magna Diamond Drillholes and the Location of Section B (Figure 2) are Illustrated. Refer to Figure 3 for the Location of Longitudinal Section A-A'.

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