Magna Mining (TSXV:NICU) has announced the first assays received from drilling on the 109 footwall (FW) zone at the Crean Hill mine.
Drillhole MCR-22-010 was targeted within the near surface 109 FW zone mineral resource and intersected mineralization grading 0.4 % nickel, 0.5 % copper, 7.2 g/t platinum-palladium-gold over 98.3 metres, including higher grade intervals grading 0.8 % nickel, 0.8 % copper, 12.7 g/t platinum-palladium-gold over 44.0 metres, including 3.7 % nickel, 2.8 % copper, 20.2 g/t platinum-palladium-gold over 7.1 metres.
According to Magna, the 109 FW zone is the second, separate footwall zone it has tested at Crean Hill, confirming the presence of multiple FW breccia corridors that will be further tested with the 2023 drill program. The current 109 FW zone has been defined to 365 metres, historical drilling indicates this style of mineralization is open at depth and has additional strike length potential.
“Drillhole MCR-22-010 is Magna’s first drillhole targeting the 109 FW zone and will enable Magna geologists to better understand the 109 FW low-sulphide, high-PGE mineralization, and geological setting controlling the distribution and continuity of mineralization,” said David King, senior vice-president for Magna.
“This information will be essential for optimizing the mine plan for the preliminary economic assessment that is underway,” King said.
Magna has budgeted 15,000 metres of diamond drilling in 2023, and a portion of this drilling will target the 109 FW zone mineralization below the current mineral resources. The 2023 drill program is now underway and the initial results from this drilling are expected towards the end of February, 2023.
For more information, visit www.MagnaMining.com.
