Magna Mining (TSXV: NICU) has wrapped up 2021 drilling at its Shakespeare nickel-copper challenge 70 km southwest of the Sudbury Basin in Ontario. The latest assays level towards lengthy and powerful intersections of each nickel and copper within the Hole Zone.
Highlights from the drill program embrace the next:
- Gap MMC-21-27 within the East Zone returned 47.7 metres grading 0.25% nickel, 0.03% copper and 0.02% cobalt, together with 33 metres at 0.3% nickel, 0.36% copper and 0.02% cobalt;
- Gap MMC-21-29 within the West Zone returned 64.2 metres grading 0.35% nickel, 0.41% copper and 0.02% cobalt; and
- Gap MMC-21-34 within the Hole Zone returned 11.5 metres grading 0.2% nickel, 0.25% copper and 0.01% cobalt.
These holes additionally contained platinum, palladium and gold. Assays are pending from two further holes. The deposit is open alongside the east-west strike and at depth.
Magna CEO Jason Jessup stated in a launch that the corporate is happy with the outcomes, which help the staff’s perception that they’ll add vital open pit assets on the challenge.
The Shakespeare property comprises a previous producing mine, which produced 2,959 oz. of gold from 1905 to 1948. It was later mined for its nickel-copper ore till suspension in 2012.
A Nationwide Instrument 43-101 compliant report was launched for Shakespeare a yr in the past. It outlined an open pit indicated useful resource of 14.4 million tonnes grading 0.34% nickel, 0.37% copper and 0.02% cobalt (0.63% nickel-equivalent) and an inferred pit useful resource of 1.7 million tonnes at 0.29% nickel, 0.31% copper and 0.02% cobalt (0.54% nickel-equivalent). The underground indicated useful resource is 2.5 million tonnes at 0.33% nickel, 0.38% copper and 0.02% cobalt (0.62% nickel-equivalent) and an inferred useful resource of two.9 million tonnes at 0.34% nickel, 0.39% copper and 0.02% cobalt (0.64% nickel-equivalent). The nickel-equivalent grades embrace palladium-platinum-gold content material.
Magna notes that the Shakespeare challenge is permitted, and that the feasibility examine can be launched within the first quarter this yr. Further drilling is to start this month.