Magna Mining Announces New Drill Results from McCreedy West and Recognition from the Government of Ontario
Magna Mining Announces New Drill Results
from McCreedy West and Recognition from the
Government of Ontario
Sudbury, Ontario--(Newsfile Corp. - June 10, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX:
MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce additional drill results from
the McCreedy West mine, including
3.0% Cu, 0.4% Ni, 9.1 g/t Pt + Pd + Au over 10.8 metres and
3.9% Cu, 0.6% Ni, 6.8 g/t Pt + Pd + Au over 2.1
metres
in drillhole FNX33368 (Table 1). Magna is
also pleased to announce that the Sudbury based projects owned and operated by the Company have
been identified as shovel ready, strategic critical mineral projects by the Government of Ontario. In a
letter to Canada's Minister of Energy and Natural Resources, Ontario's Ministers of Energy and Mines,
Natural Resources, and Indigenous Affairs and First Nations Economic Reconciliation, the Government
of Ontario urged the Federal Government to invest in critical mineral mines and infrastructure in Ontario.
Highlights from the new assay results include:
FNX33344:
5.1% Cu, 1.0% Ni, 1.8 g/t Pt + Pd + Au over 6.6 metres
FNX33350:
2.0% Cu, 0.2% Ni, 2.6 g/t Pt + Pd + Au
over 20.0 metres
Including
29.5% Cu, 0.2% Ni, 18.7 g/t Pt + Pd + Au
over 0.5 metres
And
23.4
% Cu, 0.1% Ni, 38.5 g/t Pt + Pd + Au
over 0.5 metres
FNX33368:
3.0% Cu, 0.4% Ni, 9.1 g/t Pt + Pd + Au over 10.8 metres
And
3.9% Cu, 0.6% Ni, 6.8 g/t Pt + Pd + Au over 2.1
metres
FNX33385:
2.7% Cu, 0.4% Ni, 6.9 g/t Pt + Pd + Au over 7.0 metres
And
28.9% Cu, 1.0% Ni, 2.2 g/t Pt + Pd + Au over 0.8
metres
Diamond Drilling
Production drilling at the McCreedy West Mine is ongoing with two underground diamond drills working
in the 700 Cu-PGE Footwall Zone (Figure 1). Drilling is currently focused on supporting the mid-term
production planning and better definition and grade confidence for stopes in the 2025 mine plan. A
summary of assay results since Magna took ownership of the property on March 1, 2025, is found in
Table 1, and drillhole collar information in Table 2. As development progresses and drilling platforms
become available, the focus will shift to expansion and definition drilling along the lower margins and to
the west of the known 700 Cu-PGE Footwall Zone (Figure 2).
There is one surface diamond drill rig at Levack Mine that is supporting definition and expansion drilling
on the Keel Zone in the footwall of the Main Orebody. Results from two additional drillholes on the
periphery of the Main Orebody are presented in Table 1. Once drilling in the Keel area is complete, this
rig will continue with definition and expansion within near surface portions of the No. 1 and No. 2 Ni-Cu
zones in support of the Levack mine restart study. A second rig is currently drilling exploration targets in
the footwall of the historic No. 3 Orebody and will continue testing deeper targets over the next few
months. In addition to the current surface drilling, Magna has begun planning an underground drilling
program, which we anticipate starting in the third quarter as suitable drilling platforms are identified and
become available. Assay result turn-around times were slower than expected in May, resulting in a
reduced number of Levack drill hole assay results available to report at this time. We believe the issues
have been resolved and anticipate that going forward, assay results should be as expected.
Regional Exploration
Geological compilation work is underway on Magna's exploration and development stage properties,
including Podolsky and Kirkwood, in advance of summer field programs. Priority exploration targets at
Kirkwood include the near surface Sudbury breccia hosted Segway Footwall Cu-PGE zone, which was
discovered by FNX Mining Inc. however has not been fully explored below the 150-metre level (Figure 3).
At Podolsky, exploration will follow-up on historical drillhole intersections outside of the known
mineralized zones, within the footwall breccias (Figure 4). Magna has initiated surface prospecting,
mapping and sampling in areas where information is lacking, with the goal of identifying and prioritizing
additional exploration targets that can be drill tested in 2025. Magna intends to commence exploration
drilling on the highest priority targets in the 3
rd
quarter.
Magna Mining Projects Identified as Priorities for Strategic Critical Mineral Supply Chain
Development by the Government of Ontario
Magna is pleased to announce that the Sudbury based projects owned and operated by the Company
have been identified as shovel ready, strategic critical mineral projects by the Province of Ontario. In a
letter to Canada's Minister of Energy and Natural Resources, Ontario's Ministers of Energy and Mines,
Natural Resources, and Indigenous Affairs and First Nations Economic Reconciliation urged the Federal
Government to invest in critical mineral mines and infrastructure. The projects owned and operated by
Magna were on a shortlist of such projects that the Ontario Government identified as priorities for
investment. Magna owns one producing critical mineral mine and four permitted, past producing projects
in the Sudbury region (see Figure 1). The Company has ore selling agreements in place with Vale Base
Metals and Glencore Canada to supply ore to their respective concentrators.
Magna's SVP, Paul Fowler, commented: "We are proud to be advancing several projects in Sudbury
that we believe will make a meaningful contribution towards augmenting the upstream portion of the
critical mineral supply chain in Canada. We certainly appreciate this recognition from the Government of
Ontario, and their support and assistance through initiatives such as the
$500 million Critical Mineral
Processing Fund
will be of the upmost importance as we build our projects and expand our existing
operations. In conjunction with the support programs now operated by the federal government, we
believe that Magna is in a strong position to build our projects as quickly as possible and therefore help
to rapidly strengthen Canada's critical mineral supply chain."
Figure 1:
Location of Magna Mining Existing Properties, and Key Sudbury Infrastructure
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_002full.jpg
Figure 2: McCreedy West Mine Oblique 3D View Showing the Location of Mineralized Zones
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_003full.jpg
Figure 3: Kirkwood Property Surface Geology and Longitudinal Section Showing Drilling on
the Segway Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_004full.jpg
Figure 4: Podolsky Property Longitudinal Section Showing Known Mineralized Zones and
Selected Drillhole Intersections
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_005full.jpg
Table 1: Summary of Drillhole Results from Magna 2025 McCreedy West Drilling
Drillhole
Property
Zone
From
(m)
To
(m)
Length
(m)
Cu
%
Ni
%
Co
%
Pt
g/t
Pd
g/t
Au
g/t
TPM
g/t
NiEq
CuEq
MLV-25-07
Levack
East MOB
280.18
280.47
0.29
3.96
3.86
0.03
1.75
0.72
0.04
2.51
5.80
10.32
and
283.45
285.05
1.60
3.47
0.47
0.01
0.56
0.54
0.08
1.17
2.45
4.36
and
296.57
296.87
0.30
2.08
2.46
0.03
0.82
0.74
0.05
1.61
3.47
6.18
and
299.15
299.60
0.45
1.79
2.48
0.07
0.72
0.73
0.06
1.51
3.37
6.00
MLV-25-08
Levack
East MOB
302.62
303.26
0.64
2.48
1.58
0.01
2.03
0.68
0.32
3.02
3.16
5.63
FNX33323
*
McCreedy
West
700 FW
Cu
33.83
42.67
8.84
0.95
0.53
0.01
3.15
1.82
0.82
5.79
1.90
3.39
and
49.23
51.66
2.44
8.31
0.15
0.00
6.12
5.72
2.05
13.88
6.86
12.21
and
90.53
97.84
7.32
8.24
0.76
0.01
2.50
4.17
0.87
7.54
6.27
11.17
and
103.02
104.39
1.37
11.42
2.57
0.03
2.62
4.56
0.65
7.83
9.55
17.01
FNX33325
McCreedy
West
700 FW
Cu
3.51
12.50
8.99
1.20
0.63
0.00
2.28
2.98
0.34
5.59
2.02
3.60
and
19.20
19.51
0.30
25.42
0.20
0.01
20.62
5.70
0.14
26.46
17.51
31.18
and
29.11
29.41
0.30
17.22
0.83
0.03
16.60
7.64
0.39
24.63
13.48
24.01
and
109.73
123.75
13.41
1.74
0.10
0.00
0.91
1.07
0.47
2.45
1.44
2.57
Including
121.31
123.75
2.44
5.52
0.10
0.00
2.23
3.42
1.58
7.23
4.31
7.68
and
132.59
138.53
5.94
2.38
0.48
0.01
1.11
0.78
0.27
2.16
2.03
3.62
FNX33344
McCreedy
West
700 FW
Cu
18.75
25.30
6.55
5.12
1.01
0.01
0.44
1.12
0.25
1.81
3.92
6.98
FNX33345
McCreedy
West
700 FW
Cu
1.52
3.05
1.52
16.93
0.52
0.01
4.02
11.22
2.19
17.43
12.34
21.97
FNX33346
McCreedy
West
700 FW
Cu
6.10
8.38
2.29
2.23
0.44
0.00
0.81
1.94
2.10
4.85
2.58
4.60
and
15.24
18.14
2.90
3.08
0.60
0.01
0.73
0.94
0.37
2.05
2.52
4.48
FNX33347
McCreedy
West
700 FW
Cu
6.10
6.71
0.61
2.90
0.64
0.01
1.55
1.77
0.26
3.58
2.65
4.72
and
16.76
17.07
0.30
5.41
0.07
0.00
0.84
0.91
0.21
1.96
3.27
5.83
FNX33348
McCreedy
West
700 FW
Cu
19.20
20.12
0.91
21.79
0.74
0.01
3.21
6.76
1.53
11.51
14.20
25.28
FNX33349-
1
McCreedy
West
700 FW
Cu
8.38
9.45
1.07
4.73
1.00
0.01
3.42
4.40
0.28
8.10
4.58
8.15
and
13.87
18.44
4.57
4.27
0.27
0.00
2.44
2.89
1.08
6.41
3.59
6.40
FNX33350
McCreedy
West
700 FW
Cu
7.77
27.74
19.96
1.96
0.22
0.00
0.92
1.43
0.27
2.61
1.65
2.94
Including
16.92
17.37
0.46
29.51
0.20
0.01
9.21
7.89
1.59
18.69
18.88
33.62
and
27.28
27.74
0.46
23.42
0.13
0.00
7.35
26.74
4.37
38.46
18.81
33.49
FNX33351
McCreedy
West
700 FW
Cu
17.37
17.68
0.30
12.56
0.83
0.01
2.68
4.56
0.38
7.62
8.59
15.30
FNX33352
McCreedy
West
700 FW
Cu
2.29
3.81
1.52
0.22
0.19
0.00
0.63
0.07
0.63
1.33
0.57
1.01
FNX33353
McCreedy
West
700 FW
Cu
34.44
38.56
4.11
1.50
0.27
0.00
0.73
0.78
0.23
1.75
1.33
2.36
FNX33354*
McCreedy
West
700 FW
Cu
24.84
35.97
11.13
6.79
0.21
0.00
1.80
2.15
3.15
7.10
5.32
9.47
Including
32.61
35.51
2.90
19.51
0.17
0.01
3.85
4.69
7.48
16.03
14.05
25.01
FNX33355
McCreedy
West
700 FW
Cu
Assays Pending
FNX33356
McCreedy
West
700 FW
Cu
10.82
11.13
0.30
12.58
0.06
0.00
8.68
0.71
0.40
9.79
8.23
14.65
and
17.37
18.75
1.37
2.82
0.89
0.00
2.05
1.80
0.74
4.59
3.03
5.40
FNX33357
McCreedy
West
700 FW
Cu
6.10
17.22
11.13
1.08
0.21
0.00
0.91
0.92
0.38
2.20
1.13
2.01
FNX33358
McCreedy
West
700 FW
Cu
12.50
19.35
6.86
1.35
0.36
0.00
0.95
0.87
0.53
2.35
1.45
2.58
and
23.62
26.37
2.74
1.71
0.36
0.01
1.68
2.34
0.37
4.39
1.91
3.40
FNX33359
McCreedy
West
700 FW
Cu
27.28
29.57
2.29
1.22
0.08
0.00
1.98
2.60
0.84
5.41
1.62
2.88
and
34.75
35.81
1.07
3.07
2.42
0.01
2.00
3.69
1.45
7.14
4.95
8.82
FNX33360
McCreedy
West
700 FW
Cu
11.58
13.11
1.52
2.32
1.04
0.01
2.50
1.59
0.98
5.07
3.00
5.34
and
25.30
37.49
12.19
1.72
0.50
0.00
2.28
1.89
0.65
4.81
2.13
3.80
and
46.33
47.55
1.22
2.19
1.55
0.01
2.16
1.69
1.57
5.42
3.51
6.25
and
54.56
59.28
4.72
3.76
1.41
0.01
4.04
5.17
1.69
10.90
5.02
8.95
FNX33361*
McCreedy
West
700 FW
Cu
155.14
158.04
2.90
4.30
5.03
0.07
1.65
1.86
0.10
3.61
7.18
12.78
FNX33362
McCreedy
West
700 FW
Cu
3.66
8.99
5.33
0.59
0.14
0.00
1.69
1.45
0.71
3.85
1.09
1.94
and
11.58
16.15
4.57
2.59
0.47
0.01
1.96
2.59
0.76
5.31
2.66
4.74
and
27.43
30.18
2.74
1.90
0.26
0.00
1.69
2.84
0.68
5.21
2.09
3.72
and
41.76
42.67
0.91
17.24
0.09
0.00
7.86
14.46
2.15
24.47
13.12
23.35
and
74.98
76.81
1.83
2.47
0.75
0.01
1.81
3.10
0.69
5.60
2.87
5.10
FNX33364
McCreedy
West
700 FW
Cu
25.60
25.91
0.30
3.21
1.76
0.01
0.15
2.51
0.14
2.80
3.65
6.49
and
34.90
35.20
0.30
6.14
0.14
0.01
1.32
4.52
0.15
5.99
4.29
7.64
and
51.82
53.64
1.83
1.36
0.41
0.01
0.62
0.65
0.25
1.52
1.34
2.38
and
77.42
77.72
0.30
8.32
0.41
0.00
3.34
0.82
3.82
7.98
6.53
11.62
FNX33365
McCreedy
West
700 FW
Cu
Assays Pending
FNX33366
McCreedy
West
700 FW
Cu
25.30
25.60
0.30
1.35
2.45
0.01
1.46
2.75
0.03
4.24
3.42
6.08
and
48.77
49.07
0.30
5.09
0.47
0.01
0.44
7.39
0.96
8.79
4.54
8.08
and
66.29
66.90
0.61
4.22
0.06
0.00
3.84
0.89
0.36
5.09
3.08
5.49
and
68.73
69.65
0.91
1.08
0.25
0.00
1.38
0.50
0.48
2.37
1.20
2.14
FNX33367
McCreedy
West
700 FW
Cu
Assays Pending
FNX33368
McCreedy
West
700 FW
Cu
37.49
40.84
3.35
1.32
0.45
0.01
0.84
1.01
0.42
2.28
1.49
2.65
and
67.06
77.88
10.82
3.03
0.42
0.00
4.55
3.13
1.41
9.09
3.48
6.20
and
82.30
84.43
2.13
3.86
0.58
0.00
2.41
2.99
1.40
6.80
3.74
6.66
FNX33369
McCreedy
West
700 FW
Cu
47.70
48.46
0.76
1.83
0.08
0.00
2.39
1.38
0.68
4.45
1.78
3.17
and
68.28
68.88
0.61
0.60
1.02
0.00
1.32
1.13
0.98
3.43
1.83
3.25
FNX33370*
McCreedy
West
700 FW
Cu
15.24
23.93
8.69
0.68
0.10
0.00
1.01
0.86
0.31
2.19
0.81
1.45
and
49.83
62.64
12.80
0.96
0.10
0.00
2.05
1.46
0.67
4.19
1.29
2.30
and
78.33
87.48
9.14
3.88
0.93
0.01
4.11
4.20
1.11
9.42
4.38
7.79
and
97.23
122.83
25.60
3.53
0.49
0.00
7.22
4.73
2.60
14.56
4.76
8.48
Including
111.10
121.31
10.21
5.94
0.70
0.00
10.56
7.05
3.80
21.41
7.38
13.14
FNX33371-
1
McCreedy
West
700 FW
Cu
45.26
45.87
0.61
25.73
1.02
0.01
9.16
17.49
5.57
32.22
20.09
35.77
FNX33372
McCreedy
West
700 FW
Cu
13.87
14.17
0.30
4.32
0.69
0.01
2.98
6.29
0.87
10.14
4.48
7.97
and
23.01
53.04
30.02
1.34
0.21
0.00
2.79
1.90
0.77
5.46
1.79
3.18
Including
38.10
38.86
0.76
19.02
0.12
0.00
6.99
15.48
4.58
27.05
14.84
26.43
and
51.66
53.04
1.37
2.98
1.06
0.01
13.72
5.59
2.73
22.05
6.01
10.70
FNX33373
McCreedy
West
700 FW
Cu
14.48
18.29
3.81
1.30
0.19
0.00
4.14
2.95
0.75
7.84
2.07
3.69
and
28.04
28.96
0.91
7.00
0.22
0.00
5.47
9.05
2.70
17.21
6.79
12.09
FNX33374
McCreedy
West
700 FW
Cu
4.88
6.25
1.37
2.28
0.40
0.00
1.21
1.44
0.30
2.95
2.03
3.61
FNX33375
McCreedy
West
700 FW
Cu
3.35
3.66
0.30
10.31
0.53
0.01
1.39
8.32
1.20
10.91
7.72
13.74
and
9.91
10.82
0.91
4.81
1.64
0.01
4.08
4.23
0.84
9.15
5.41
9.63
FNX33376
McCreedy
West
700 FW
Cu
31.24
32.00
0.76
1.84
0.47
0.00
4.79
3.03
0.78
8.60
2.71
4.83
and
37.34
37.95
0.61
22.80
0.38
0.01
8.83
19.31
25.09
53.23
24.00
42.74
FNX33377
McCreedy
West
700 FW
Cu
0.91
6.71
5.79
0.82
0.19
0.00
1.25
1.08
0.35
2.67
1.04
1.85
and
18.14
19.66
1.52
4.11
1.26
0.01
4.48
4.92
1.91
11.31
5.18
9.22
and
34.44
39.93
5.49
1.17
0.19
0.00
10.25
3.66
2.45
16.36
3.47
6.17
FNX33379
McCreedy
West
700 FW
Cu
3.20
3.66
0.46
4.26
1.71
0.00
1.04
3.49
0.57
5.10
4.56
8.11
and
26.52
29.26
2.74
1.21
2.52
0.01
2.82
2.48
0.77
6.07
3.77
6.72
FNX33380
McCreedy
West
700 FW
Cu
Assays Pending
FNX33385
McCreedy
West
700 FW
Cu
7.16
14.17
7.01
2.66
0.37
0.00
1.42
2.12
3.39
6.93
3.25
5.79
and
42.06
42.82
0.76
28.90
0.95
0.04
0.50
1.37
0.28
2.15
16.70
29.73
FNX33386
McCreedy
West
700 FW
Cu
10.06
10.97
0.91
4.62
1.42
0.01
2.06
3.37
0.46
5.89
4.60
8.19
FNX33390
McCreedy
West
700 FW
Cu
68.12
68.73
0.61
27.62
0.19
0.01
0.33
1.49
1.19
3.01
15.60
27.77
and
79.25
79.55
0.30
19.70
0.16
0.00
1.02
4.82
0.88
6.72
11.79
21.00
FNX33391
McCreedy
West
700 FW
Cu
Assays Pending
FNX33392
McCreedy
West
700 FW
Cu
Assays Pending
FNX33393
McCreedy
West
700 FW
Cu
69.95
71.17
1.22
4.56
0.19
0.00
0.41
1.89
0.15
2.45
2.98
5.31
and
87.63
88.85
1.22
5.43
0.18
0.00
0.36
1.24
0.18
1.78
3.35
5.96
*Previously Released
All lengths are downhole length. True widths are uncertain at this time.
Ni Eq % = (Ni% x 85% Recovery 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co
Price $/lb) + (Pt gpt x 69% Recovery / 31.1035 x Pt $/oz) +(Pd gpt x 68% Recovery / 31.1035 x Pd $/oz) + (Au gpt x 68% Recovery / 31.1035 x Au
$/oz))/2204 x Ni $/lb.
Cu Eq % = (Ni% x 85% Recovery 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co
Price $/lb) + (Pt gpt x 69% Recovery / 31.1035 x Pt $/oz) +(Pd gpt x 68% Recovery / 31.1035 x Pd $/oz) + (Au gpt x 68% Recovery / 31.1035 x Au
$/oz))/2204 x Cui $/lb.
Metal prices in US$: $7.30/lb Ni, $4.10/lb Cu, $15.00/lb Co, $1,000/oz Pt, $1,050/oz Pd and $2,200/oz Au.
Table 2:
Drillhole Collar Coordinates
BHID
Easting
Northing
Elevation
Azimuth
Dip
Depth(m)
MLV-25-07
471846
5166794
335.0
298.0
-54.0
383.0
MLV-25-08
471844
5166794
336.0
308.0
-51.0
345.0
FNX33323
469649
5164908
1.9
183.2
16.6
107.9
FNX33325
469649
5164908
1.7
190.6
13.2
146.3
FNX33344
469760
5164831
-15.5
189.6
38.9
36.6
FNX33345
469760
5164831
-17.3
189.4
3.0
6.1
FNX33346
469760
5164831
-19.6
189.5
-43.1
45.7
FNX33347
469759
5164832
-17.3
218.2
27.6
33.5
FNX33348
469759
5164832
-18.0
218.4
2.6
30.5
FNX33349-1
469759
5164832
-17.8
240.1
-21.9
91.4
FNX33350
469759
5164832
-18.8
218.6
-31.3
42.7
FNX33351
469759
5164832
-17.7
231.6
29.8
27.4
FNX33352
469759
5164832
-17.3
232.4
-12.0
6.7
FNX33353
469759
5164833
-17.9
241.0
8.0
39.6
FNX33354
469759
5164833
-17.9
252.0
10.9
33.5
FNX33355
469759
5164833
-18.3
250.7
-13.2
39.6
FNX33356
469759
5164833
-18.2
265.8
-5.5
36.6
FNX33357
469759
5164833
-19.3
268.5
-5.7
24.4
FNX33358
469758
5164834
-18.5
288.4
-9.9
36.6
FNX33359
469764
5164987
39.4
267.3
-21.0
34.7
FNX33360
469835
5164878
-48.6
222.8
3.1
60.8
FNX33361
469836
5164877
-47.8
204.4
2.0
161.5
FNX33362
469835
5164878
-47.7
214.5
3.1
141.7
FNX33364
469767
5164986
39.6
202.5
-5.8
62.8
FNX33365
469766
5164986
39.7
214.9
-2.8
128.6
FNX33366
469766
5164986
39.6
213.6
-6.1
72.4
FNX33367
469766
5164986
39.6
218.8
-5.7
135.6
FNX33368
469765
5164987
40.2
233.3
3.5
85.3
FNX33369
469765
5164987
39.8
232.2
-7.1
79.2
FNX33370
469764
5164988
40.2
261.3
-0.5
137.2
FNX33371-1
469763
5164988
40.2
270.5
-5.3
73.2
FNX33372
469763
5164988
39.2
270.2
-15.7
54.9
FNX33373
469763
5164988
38.9
271.7
-27.2
32.9
FNX33374
469766
5164995
39.8
296.6
10.5
54.9
FNX33375
469767
5164996
40.0
-32.4
16.1
30.5
FNX33376
469767
5164996
39.4
-31.8
-1.8
41.1
FNX33377
469767
5164996
38.3
-32.9
-25.4
42.7
FNX33379
469768
5164997
39.4
-13.2
-1.3
39.6
FNX33380
469768
5164997
38.8
-12.1
-14.6
36.6
FNX33385
469764
5164835
-16.8
82.5
13.8
51.8
FNX33386
469764
5164835
-17.4
84.4
-11.5
64.0
FNX33390
469777
5164856
58.3
271.3
3.8
89.9
FNX33391
469777
5164856
58.1
283.0
12.4
106.7
FNX33392
469777
5164857
57.9
301.7
7.1
115.8
FNX33393
469777
5164857
58.0
309.3
10.8
97.5
*Drillhole Coordinates are in Coordinate System NAD 83 Zone 17
Qualified Person for Technical Information
The scientific and technical information in this press release has been reviewed and approved by David
King, M.Sc., P.Geo. Mr. King is the Senior Vice President, Exploration and Geoscience for Magna
Mining Inc. and is a qualified person under National Instrument 43-101.
Quality Assurance and Control
Sample QA/QC procedures for Magna have been designed to meet or exceed industry standards. Drill
core is collected from the diamond drill and placed in sealed core trays for transport to Magna's core
facilities. Levack drilling utilizes NQ sized core and McCreedy West utilizes BQTK sized core. The core
is then logged, and samples marked in intervals of up to 1.5m. Levack drill core is split and sampled ½
core, and McCreedy west is whole core sampled. Samples are then put into plastic bags with 10
bagged samples being placed into rice bags for transport to Swastika Laboratories in Kirkland Lake
Ontario via Gardewine Transport for preparation and analysis.
Samples are submitted in batches of 50
with 5 QA/QC samples including, 2 certified reference material standards, 2 samples of blank material
and 1 lab duplicate.
Cautionary Statement on Forward-Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this
press release constitute "forward-looking statements" and "forward-looking information" (collectively,
"forward-looking statements") within the meaning of applicable securities laws. Generally, these forward-
looking statements can be identified by the use of forward-looking terminology, such as "may", "might",
"potential", "expect", "anticipate", "estimate", "believe", "could", "should", "would", "will", "continue",
"intend", "plan", "forecast" or other similar words or phrases or variations thereof. Forward-looking
statements are necessarily based upon a number of assumptions that, while considered reasonable by
management, are inherently subject to business, market and economic risks, uncertainties and
contingencies that may cause actual results, performance or achievements to be materially different from
those expressed or implied by forward-looking statements, including risks and uncertainties relating to
the failure of additional drilling to support production planning, additional definition or expansion of
resources, the failure to proceed as quickly as planned with additional exploration drilling, continued
delays for assay results and other risks disclosed in the Company's most recent annual management
discussion and analysis. Although the Company has attempted to identify important risks, uncertainties,
contingencies and factors that could cause actual results to differ materially from those expressed or
implied in forward-looking statements, there can be no certainty or assurance that the Company has
accurately or adequately captured, accounted for or disclosed all such risks, uncertainties, contingencies
or factors. Readers should place no reliance on forward-looking statements as actual results,
performance or achievements may be materially different from those expressed or implied by such
statements. Resource exploration and development, and mining operations, are highly speculative,
characterized by several significant risks, which even a combination of careful evaluation, experience
and knowledge will not eliminate. Forward-looking statements speak only as of the date they are made.
The Company does not undertake to update any forward-looking statements, whether as a result of new
information or future events or otherwise, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press
release.
About Magna Mining Inc.
Magna Mining is a producing mining company with a portfolio of copper, nickel and PGM operating,
exploration and development projects in the Sudbury Region of Ontario, Canada. The Company's
primary assets are the producing McCreedy West copper mine and the past producing Levack,
Podolsky, Shakespeare and Crean Hill mines. Additional information about the Company is available on
SEDAR+ (
www.sedarplus.ca
) and on the Company's website (
www.magnamining.com
).
For further information, please contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
705-482-9667
Email:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/255012