Jason Jessup, CEO and Director of Magna Mining (TSX.V: NICU) (OTC: MGMNF), joins me to unpack key milestone of the Crean Hill Mine Project going into a toll-milling arrangement on a 109 FootWall Zone bulk sample, and the further exploration work going on at this project and also at the Shakespeare Project for 2024. We also review the ongoing derisking work the company is doing for the potential development strategy at both Projects and the ultimate pathway towards nickel, copper, platinum, palladium and gold production in the prolific mining district in Sudbury, Ontario.
We start off discussing how the signing of a toll milling agreement with Glencore, to process a surface bulk sample from the 109 FW Zone at Crean Hill, is really the next step in advancing their Crean Hill Project. This bulk sample will allow us to evaluate the metallurgical performance and reconcile against our resource estimate, further de-risking our project as we move towards underground advanced exploration at Crean Hill.
Additionally, back on March 27, 2024, Magna announced the signing of a Definitive Offtake Agreement for advanced exploration at Crean Hill with Vale Canada. The Vale agreement excluded the 109 FW Zone as Magna wanted to explore other processing options to improve recoveries for the copper-PGM rich mineralization in this zone. These two agreements with both Glencore and Vale demonstrate the various options for Magna to do future toll-milling agreements and grow their mining business in the Sudbury region. We also look ahead to the larger vision of eventually building a mill at Shakespeare for a hub and spoke mining method, across their land package, and how they are evaluating other potential properties to augment their development portfolio.
With regards to exploration, we reviewed the nearly 23,000+ meters of drilling from last year, and looked ahead to the 25,000 meters of drilling on tap for this year, with more of a discovery focus. We highlighted the importance of the recent high-grade drill intercepts of nickel, copper, platinum and palladium in the 101, 105, and 109 Footwall Zones, that complement the other areas of more nickel forward mineralization in the main contact mineralization areas of the deposit. Also there is ongoing regional and discovery drilling going on at both Crean Hill and Shakespeare, with more exploration newsflow on tap for the balance of this year.
If you have questions for Jason regarding Magna Mining, then please email me at Shad@kereport.com.
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