Magna Mining Intersects Near Surface Contact Nickel Mineralization Grading 2.3% Ni, 0.7% Cu Over 28.0 metres at the Levack Mine
Magna Mining Intersects Near Surface Contact
Nickel Mineralization Grading 2.3% Ni, 0.7% Cu
Over 28.0 metres at the Levack Mine
Sudbury, Ontario--(Newsfile Corp. - August 19, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX:
MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to provide an update on exploration
activities and assay results from the ongoing exploration at the Levack Mine (Figure 1). Results include
the initial assays from the near surface portion of the No.1 nickel-copper ("Ni-Cu") zone, supporting the
Levack Mine restart study.
Highlights from the new assay results include:
MLV-25-21
2.3% Ni, 0.7% Cu, 0.3 g/t Pt + Pd + Au over 28.0 metres
Including
6.6% Ni, 0.7% Cu, 0.6 g/t Pt + Pd + Au over 2.4 metres
And
3.3% Ni, 1.0% Cu, 0.5 g/t Pt + Pd + Au over 12.4 metres
MLV-25-22
2.4% Ni, 0.8% Cu, 0.3 g/t Pt + Pd + Au over 15.5 metres
And
3.2% Ni, 2.2% Cu, 1.4 g/t Pt + Pd + Au over 1.9 metres
Dave King, SVP Exploration and Geoscience stated, "We are pleased to announce initial assay results
from the near surface drilling on the No. 1 Contact Ni-Cu zones at the Levack Mine. Drilling in this area
will provide the data required to advance the Levack restart study and provide appropriate drill density to
support the higher level of geological confidence required for our upcoming Mineral Resource Estimate.
In addition to the Keel Copper-PGE ("Cu-PGE") zone, initial mining from this zone could be accessed
via a new ramp from surface. The intersections reported today are approximately 135 to 155 metres
from surface and confirm Magna's belief that there are significant areas of wide, high grade nickel
mineralization at shallow depths remaining at the Levack Mine."
Diamond Drilling and Exploration Plan
There are currently two surface diamond drills operating at the Levack Mine, one completing near
surface infill and metallurgical drillholes on the No. 1 and No. 2 and Main zones, and a second drill
exploring the footwall environment between the No. 3 Ni-Cu Zone and the Morrison Cu-PGE deposit.
The first drill has completed a number of holes in the No. 1 and No. 2 zones, and is currently testing an
area to the east of the Main OB (see Figure 2), to expand on known Ni-Cu mineralization which locally
tends to have higher precious metals and could potentially be accessed early in a mine restart plan.
Once this drilling is completed, it is expected that this drill will also transition to testing the footwall area
below the No. 3 OB, where the second diamond drill has been exploring for the past two months. Here,
the second drill is currently drilling a wedge hole to test approximately 150 metres below the intersection
in hole MLV-25-14A which graded
2.6% Cu, 8.1% Ni, 17.8 g/t Pt + Pd + Au
over 0.6 metres (reported
on July 9, 2025
). Since releasing the results of MLV-25-14A, a historical drillhole FNX6083 was
extended to provide a geophysical platform hole, and a wedge off hole FNX6083 has been completed
based on the results of the geophysical survey. Assay results for these holes are pending and are
expected to be released in the coming weeks
In addition to the surface diamond drills, an underground diamond drill will begin drilling at the Levack
Mine within the current quarter, and a second underground diamond drill is expected to begin drilling in
Q4. These drills will be focused on testing the area further downdip and on strike of the area below the
No. 3 zone, as well as following up on the east side of the Fecunis fault, where historical hole FNX21200
intersected
33.4% Cu, 0.9% Ni & 23.9 g/t Pt + Pd + Au
over 0.2 metres. This area is interpreted as
potentially having a vertical vein system, subparallel to the Fecunis fault. The intersection in FNX21200 is
open in all directions. The footwall copper systems in the North Range of the Sudbury Basin commonly
have a thicker (2-10 metres) massive sulphide veins in the central core, with sulphide veins narrowing
along strike, near the margins of the deposit. We are encouraged by the potential in this area are
planning follow-up exploration once underground drilling is underway.
The drilling reported from the Keel Cu-PGE zone targeted the extensions of the known mineralization
and areas in proximity to a conceptual ramp design to aid in detailed planning and support of the restart
study for the Levack Mine. Assays are summarized in Table 1 and drillhole collar information is
presented in Table 2.
Figure 1:
Location of Magna Mining's Existing Properties, and Key Sudbury Infrastructure
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/263001_bba609fd545f4a3b_001full.jpg
Figure 2: Oblique 3D View Looking North-East, Showing the Levack Mine Mineralized Zones In
Relation to the Current Drilling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/263001_bba609fd545f4a3b_002full.jpg
Table 1: Summary of Drillhole Results
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-
16
Levack
Keel
No Significant Assays
MLV-25-
17
Levack
Keel
28.85
29.64
0.79
1.30
0.37
0.01
0.07
0.21
0.03
0.31
1.07
1.90
And
36.40
36.80
0.40
1.07
0.54
0.01
0.05
0.10
0.04
0.19
1.08
1.93
MLV-25-
18
Levack
Keel
Assays Pending
MLV-25-
19
Levack
Keel
132.92
133.22
0.30
17.24
0.90
0.02
0.19
0.24
0.08
0.51
10.11
18.00
MLV-25-
20
Levack
Keel
82.18
83.44
1.26
0.96
0.06
0.00
0.85
1.48
0.27
2.59
0.98
1.74
And
122.18
122.54
0.36
0.07
3.50
0.02
1.06
2.19
0.02
3.27
3.50
6.23
MLV-25-
21
Levack
No. 1
145.75
173.78
28.03
0.73
2.30
0.07
0.21
0.13
0.01
0.34
2.47
4.40
Including
145.75
148.10
2.35
0.65
6.58
0.13
0.36
0.20
0.01
0.58
6.17
10.98
And
155.18
167.62
12.44
1.01
3.33
0.10
0.26
0.18
0.01
0.45
3.56
6.34
MLV-25-
22
Levack
No. 1
167.63
183.11
15.48
0.83
2.38
0.09
0.17
0.09
0.01
0.28
2.61
4.65
And
189.11
191.00
1.89
2.18
3.17
0.09
0.82
0.52
0.06
1.40
4.17
7.42
Important Notes
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
MLV-25-16
471289
5166725
384
312
45
101
MLV-25-17
471289
5166724
384
330
45
107
MLV-25-18
471300
5166830
403
209
53
191
MLV-25-19
471301
5166831
403
209
71
181
MLV-25-20
471303
5166831
403
175
63
200
MLV-25-21
472093
5166903
340
342
68
200
MLV-25-22
472093
5166903
340
338
73
202
*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 SGS Laboratories in Garson, Ontario for
preparation, which are then shipped to Lakefield, Ontario for analysis.
Samples are submitted in batches
of 50 with 4 QA/QC samples including, 2 certified reference material standards and 2 samples of blank
material.
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, economic, technical and other 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 expectations or estimates of potential
mineralization or grade, additional expansion or delineation of resources, production planning, the lack
of availability of drill rigs or the failure to proceed as quickly as planned with additional exploration or
other drilling, continued delays for assay results, the failure to proceed as quickly as planned with a
restart of mining at the Levack Mine, if at all, and other risks disclosed in the Company's most recent
management discussion and analysis, available on the SEDAR+ website (at:
www.sedarplus.ca
).
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 Inc.
is a producing mining company with a strong portfolio of copper, nickel, and
platinum group metals (PGM) assets located in the world-class Sudbury mining district of Ontario,
Canada. The Company's primary asset is the
McCreedy West Mine
, currently in production, supported
by a pipeline of highly prospective past-producing properties including
Levack
,
Crean Hill
,
Podolsky
,
and
Shakespeare
.
Magna Mining is strategically positioned to unlock long-term shareholder value through continued
production, exploration upside, and near-term development opportunities across its asset base.
Additional corporate and project information is available at
www.magnamining.com
and through the
Company's public filings on the SEDAR+ website at
www.sedarplus.ca
.
For further information, please contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
705-482-9667
Email:
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