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Magna Mining intersects 5% nickel equivalent at Crean Hill near Sudbury

Sep 21, 2023

Magna Mining Inc. is pleased to release additional assay results from the ongoing 2023 diamond drilling program. Drilling continues to intersect high grade nickel mineralization in the 105 Footwall ("FW") Zone including drillhole MCR-23-040 which intersected 4.2% Ni, 0.9 % Cu, 1.4 g/t Pt + Pd + Au over 7.0 metres. 

Highlights from the new assay results include:

  • 105 FW Zone 

MCR-23-040: 4.2% Ni, 0.9 % Cu, 1.4 g/t Pt + Pd + Au over 7.0 metres 

MCR-23-046: 0.2% Ni, 1.2 % Cu, 6.3 g/t Pt + Pd + Au over 5.2 metres

And 2.7% Ni, 1.5 % Cu, 18.1 g/t Pt + Pd + Au over 0.9 metres

MCR-23-050: 1.1% Ni, 0.6 % Cu, 4.3 g/t Pt + Pd + Au over 8.8 metres

And 0.6% Ni, 3.5 % Cu, 10.1 g/t Pt + Pd + Au over 1.1 metres

Dave King, SVP Technical Services stated, "The 105 FW Zone is similar to the 101 FW Zone, and consists of high nickel tenor, semi massive to massive sulphide veins hosted within a breccia structure extending into the footwall from the Sudbury Igneous Complex ("SIC"). Additional diamond drilling within the 105 FW zone continues to intersect high grade mineralization with increasing precious metals (Pt, Pd, Au) as this structure approaches the Main Zone. We are encouraged to see high grade PGE mineralization at the 1500 ft level, down-plunge of the defined 109 FW zone, where these two structures are interpreted to intersect, indicating this style of mineralization may continue to depth" (see Figure 1).

The 105 FW diamond drilling to date has been focused on expanding the current Indicated Mineral Resource, with the objective of better understanding the geologic controls on mineralization and grade continuity. Two high grade, precious metal rich, intersections in drillhole MCR-23-040, grading 0.3% Ni, 0.8 % Cu, 38.6 g/t Pt + Pd + Au over 0.3 metres and 0.2% Ni, 0.5 % Cu, 35.2 g/t Pt + Pd + Au over 0.5 metres are related to the 109 FW zone. These two intersections are outside of the current 109 FW Mineral Resource and have potential to add near surface resource which could be amenable to more selective mining methods.

Additional exploration assay results released today are from the G1 and G2 contact exploration targets, as well as the remaining assays from the near surface drilling on the 109 FW zone (see news release dated June 20, 2023). Figure 2 illustrates the location of additional exploration drilling and complete assay results are summarized in Table 1. Drillhole collar coordinates are presented Table 2.

Diamond drilling is ongoing at Crean Hill, with one diamond drill currently focused on deep footwall exploration.

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