Magna Mining (TSXV: NICU) continues to see positive drill results from the continued exploration of the 109 Footwall Zone at the Crean Hill Mine, as the company continues to follow up on strong drill results experienced earlier this year.
The latest drill results come from a series of short near surface drill holes, which focused on mineralization immediately beneath the surface exposure of the 109 FW Zone. A total of 26 holes were sent for assays from the program, with data returned on 16 holes to date.
Highlights from drilling include:
- MCB-23-003: 0.7% nickel, 0.6% copper, 8.7 g/t platinum + palladium + gold over 31.0 metres
- MCB-23-007: 0.3% nickel, 0.8% copper, 9.0 g/t platinum + palladium + gold over 21.0 metres
- MCB-23-009: 0.2% nickel, 0.2% copper, 12.38 g/t platinum + palladium + gold over 19.00 metres
- MCB-23-012: 0.4% nickel, 0.6% copper, 18.9 g/t platinum + palladium + gold over 13.0 metres
The high grade intersections encountered are said to not be well represented in the current resource model for the zone, with an advanced exploration bulk sample program planned to better define grade and mineralization in the area.
READ: Magna Mining Hits 0.4% Nickel, 0.5% Copper Over 98 Metres
“The assay results reported today are part of a definition drilling program to improve our understanding and modelling of the 109 FW Zone. The intersections received to date support our new thesis that there are high-grade, structurally controlled systems running through the 109 FW Zone,” commented CEO Jason Jessup.
The bulk sample program is to be completed ahead of a potential underground exploration program, which would occur in early 2024.
Magna Mining last traded at $0.535 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.
