Jason Jessup, CEO and Director of Magna Mining (TSX.V: NICU) (OTCQB: MGMNF), joins me for an operations and exploration update at the producing McCreedy West copper mine in Sudbury, Canada. We also review the ongoing exploration and development work at the Levack Mine, working towards and updated resource estimate in Q3 and mine restart plan by year-end. There are currently 5 drill rigs turning between the 2 properties.
We kick off the conversation with a review of how production and development has been going over the last 2 months at their McCreedy West copper mine, since the company took over the operations. We also highlight some of the recent high-grade copper – nickel – PGM assays returned from drilling at McCreedy West, announced on April 30th, that focused on the 700 Footwall Cu-PGE zone resource expansion and definition in support of mid-term production planning, and targeted areas near historical mining.
Highlights from the new assay results McCreedy West Mine include:
- FNX33354: 6.8% Cu, 0.2% Ni, 7.1 g/t Pt + Pd + Au over 11.1 metres (m), including 19.5% Cu, 0.2% Ni, 16.0 g/t Pt + Pd + Au over 2.9 m
- FNX33370: 3.9% Cu, 0.9% Ni, 9.4 g/t Pt + Pd + Au over 9.1 m And 3.5% Cu, 0.5% Ni, 14.6 g/t Pt + Pd + Au over 25.6 m, including 5.9% Cu, 0.7% Ni, 21.4 g/t Pt + Pd + Au over 10.2 m
Next we transitioned over to all the exploration focus at the past-producing Levack mine. Jason outlines the Company strategy to put out a Mine Restart Plan later this year, that will detail the development pathway for bringing the Levack Mine back into production in 2026.
Highlights from the new assay results Levack Mine include:
- MLV-25-01-W1: 5 % Cu, 1.0% Ni, 8.4 g/t Pt + Pd + Au over 1.9 metres
- MLV-25-04: 0 % Cu, 1.2% Ni, 6.7 g/t Pt + Pd + Au over 2.0 metres
If you have questions for Jason regarding Magna Mining, then please email me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Magna Mining at the time of this recording.
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