Magna Mining Hits 0.4% Nickel, 0.5% Copper Over 98 Metres

Magna Mining (TSXV: NICU) continued its trend of positive assay results this morning. The company released results on its third hole conducted at the Crean Hill Mine, where it is working to expand its current resource.

The latest results come from hole MCR-22-010, which similar to results last week, targeted a footwall that is proximal to the Main Zone. The targeted zone is the 109 Footwall Zone, which is said to be an area of high-grade mineralization extending into the footwall breccia from the Main Zone.

READ: Magna Mining Hits 31 Metres Of 4.0% Nickel At Crean Hill

Highlights from the results include:

  • 0.39% nickel, 0.49% copper, 3.36 g/t platinum, 2.28 g/t palladium and 1.59 g/t gold over 98.26 metres from a depth of 26.55 metres
    • Including 0.77% nickel, 0.78% copper, 5.79 g/t platinum, 3.98 g/t palladium and 2.95 g/t gold over 44.00 metres
    • Including 3.70% nickel, 2.82% copper, 4.53 g/t platinum, 8.95 g/t palladium and 6.70 g/t gold over 7.09 metres

The 109 Footwall Zone is the second footwall zone tested at Crean Hill, and is said to confirm the presence of multiple footwall breccia corridors, which will continue to be tested in the 2023 drill program. The 109 FW Zone has been defined to a depth of 365 metres, but is said to be open at depth with the potential for additional strike length as well.

Magna Mining last traded at $1.15 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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