Magna Mining Inc.is happy to announce drill outcomes for the primary two drill holes at its Shakespeare Venture, positioned close to Sudbury, Ontario. Diamond drilling on the Shakespeare Venture commenced in late April, with one diamond drill centered on higher defining the realm between the East and West zones, known as the Hole Zone, and at depth, under the East Zone.
Magna Mining Inc. (TSXV: NICU) (“Magna” or the “Firm”) is happy to announce drill outcomes for the primary two drill holes at its Shakespeare Venture, positioned close to Sudbury, Ontario. Diamond drilling on the Shakespeare Venture commenced in late April, with one diamond drill centered on higher defining the realm between the East and West zones, known as the Hole Zone, and at depth, under the East Zone.
Drillhole MMC-21-15 intersected 0.51% Nickel Equal (“Ni Eq”) over 33.8 metres within the Hole Zone, thereby supporting the Firm’s thesis that the present NI 43-101 Mineral Useful resource estimate may be expanded on this near-surface a part of the Shakespeare deposit.
Jason Jessup, Chief Government Officer of Magna, said, “We’re happy to report the primary assay outcomes obtained from our ongoing exploration program on the Shakespeare Venture. Outcomes from gap MMC-21-15 show the close to floor exploration potential of the challenge, in addition to the potential to considerably improve Mineral Assets.”
“Of the deliberate 9,000 metre diamond drilling program so far, we’ve got accomplished 2,426 metres in 11 drillholes. Moreover, we’ve got efficiently progressed three of the 2021 exploration program aims. Firstly, drilling so far has superior our understanding of the geological controls on Shakespeare mineralization. As well as, we’ve got now recognized substantial nickel-copper-PGM mineralization in proximity to our open pit useful resource and have established platforms for downhole geophysical surveys, which can assist information extra drilling in 2021. We’re inspired by the outcomes so far, together with drillhole MMC-21-15, which intersected vital mineralization exterior of the present Mineral Useful resource and increasing exterior of the 2021 open pit useful resource shell. Magna appears ahead to offering extra updates because the 2021 exploration program progresses and assay outcomes are obtained,” said Jason Jessup.
The Hole Zone at the moment separates the Shakespeare West and East mineral sources (Determine 1). Six drillholes focused the Hole Zone space, and outcomes have been obtained for 2 holes. Desk 1 summarizes drilling and assays obtained so far. Vital outcomes embrace drillhole MMC-21-15, which intersected a large interval of mineralization, extending past the present mineral useful resource open pit shell (Determine 2).
Two drill holes, MMC-21-18 and MMC-18-07 extension, had been accomplished beneath the East Zone and prolonged into the footwall of the recognized deposit. These will present platforms for downhole geophysical surveys, which might doubtlessly outline geophysical anomalies representing areas of conductivity and mineralization. Crone Geophysics has accomplished surveys on 5 of the 11 holes, for which ends are pending.
Drilling has additionally been carried out on regional targets whereas the geophysical surveying program was being executed at Shakespeare. Presently the drill is on our Springer Goal which is following up on floor sampling that assays as much as 7.36% Cu and is in proximity to our newly acquired patents claims (see press launch dated June 8th, 2021). Drilling will resume on the Shakespeare deposit later this month.
Determine 1: Shakespeare Deposit longitudinal part, illustrating the situation of diamond drilling and assay outcomes obtained so far
Determine 2: Vertical part illustrating drillhole MMC-21-15
Desk 1 2021 Diamond Drilling Outcomes
(1) Reported lengths are downhole size. True widths are estimated to be 70-80% of downhole size.
(2) Nickel Equal grade is calculated based mostly on metallic costs of $6.25/lb Ni, $2.80/lb Cu, $31.00/lb Co, $950/oz Pt, $900/oz Pd and $1,250.00/oz Au, and metallic recoveries of 76.4% for Ni, 95.9% for copper, 71% for Co, 74.8% for Pt, 42.4% for Pd and 38.4% for Au.
The technical info on this press launch has been reviewed and accredited by Marshall Corridor, M.Sc., P.Geo, the Firm’s Exploration Supervisor. Mr Corridor is a professional individual beneath Canadian Nationwide Instrument 43-101.
Pattern QA/QC practices for Magna have been designed to satisfy or exceed business requirements. Drill core is collected from the diamond drill and positioned in sealed core trays from transport to Magna’s core services. The core is then logged and samples marked in intervals of as much as 1.5m and minimize with a diamond noticed. Samples are then bagged in plastic luggage with 10 bagged samples being positioned into rice luggage for transport to SGS Laboratories, Sudbury. Samples are submitted in batches of fifty with 5 QA/QC samples together with, 2 licensed reference materials requirements, 2 samples of clean materials and 1 duplicate. The present drilling program is being carried out beneath the supervision of Marshall Corridor, M.Sc., P.Geo, the Firm’s Exploration Supervisor.
About Magna Mining Inc.
Magna Mining is an exploration and growth firm centered on nickel, copper and PGM initiatives within the Sudbury Area of Ontario, Canada. The Firm’s flagship asset is the previous producing Shakespeare Mine which has main permits for the development of a 4500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km2 potential land bundle. Further details about the Firm is out there on SEDAR (www.sedar.com) and on the Firm’s web site (www.magnamining.com).
For additional info, please contact:
Chief Government Officer
Paul Fowler, CFA
Senior Vice President
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This press launch incorporates sure forward-looking info or forward-looking statements as outlined in relevant securities legal guidelines. Ahead-looking statements will not be historic info and are topic to a number of dangers and uncertainties past the Firm’s management, together with statements concerning plans to finish exploration applications, potential mineralization, exploration outcomes and statements concerning beliefs, plans, expectations or intentions of the Firm. Useful resource exploration and growth is very speculative, characterised by a number of vital dangers, which even a mix of cautious analysis, expertise and information could not eradicate. All forward-looking statements herein are certified by this cautionary assertion. Accordingly, readers shouldn’t place undue reliance on forward-looking statements. The Firm undertakes no obligation to replace publicly or in any other case revise any forward-looking statements whether or not on account of new info or future occasions or in any other case, besides as could also be required by legislation.
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