Magna Mining Inc. (TSXV: NICU) has released initial assays from a series of short, near-surface drill holes immediately beneath the surface of the 109 Footwall Zone. The assay results reported high-grade intercepts and confirmed high-grade mineralization; therefore, Magna is now planning a surface, advanced exploration bulk sample programme to better define the grade and continuity of mineralization in this area. Results for 16 of 26 short drill holes completed have been received so far.
“The assay results reported today are part of a definition drilling programme 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,” Jason Jessup, CEO of Magna stated.
Highlights from the new assay results include:
MCB-23-003: 0.7% Ni, 0.6% Cu, 8.7g/t Pt + Pd + Au over 31.0m, including 5.9 % Ni, 2.0% Cu, and 12.4g/t Pt + Pd + Au over 3.2m
MCB-23-007: 0.3% Ni, 0.8% Cu, 9.0g/t Pt + Pd + Au over 21.0m, including 1.9 % Ni, 1.5% Cu, and 49.1g/t Pt + Pd + Au over 1.9m
MCB-23-012: 0.4% Ni, 0.6% Cu, 18.9g/t Pt + Pd + Au over 13.0m, including 0.8 % Ni, 1.1% Cu, and 44.9g/t Pt + Pd + Au over 4.9m
“These high-grade trends are not well represented in the current mineral resource estimate but will be incorporated into future resource updates. Magna is currently planning an advanced exploration bulk sampling programme at surface from this area of the 109 FW Zone. We are expecting to complete this bulk sample before the end of this year in advance of a possible underground advanced exploration program commencing in early 2024,“ Jessup added.
The 109 FW Zone is considered a low sulphide, high-grade Pt+Pd+Au mineralized zone, hosted within a breccia system extending southwest from the historically mined Main Zone contact Ni-Cu orebody. At least two structurally controlled, high grade trends have been recognized, which will improve the geological modeling and will be incorporated into future resource estimates.
For further information, please visit: www.magnamining.com
