Magna Mining Reports Multiple Copper, Nickel and Precious Metal Rich Intersections from the R2 Target at the Levack Mine in Sudbury, Ontario
Magna Mining Reports Multiple Copper, Nickel
and Precious Metal Rich Intersections from the
R2 Target at the Levack Mine in Sudbury,
Ontario
Sudbury, Ontario--(Newsfile Corp. - October 23, 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 ongoing exploration at the past-producing Levack Mine, located in the
North Range of the Sudbury Basin, northeastern Ontario, Canada (Figure 1). Drillhole FNX6083-W2 was
targeted approximately 40 metres to the north of drill hole FNX6083-W1 (see News Release dated
August 28, 2025) and below drill hole MLV-25-14A which intersected 2.6% copper, 8.1% nickel and
17.8 g/t platinum + palladium + gold over 0.6 metres. Drillhole FNX6083-W2 intersected multiple
mineralized intervals including copper rich chalcopyrite veins grading up to 19.3% copper and 26.1 g/t
platinum + palladium + gold, as well as nickel rich pyrrhotite-pentlandite veins grading up to 12.4% nickel
and 24.2 g/t platinum + palladium + gold.
Highlights from the new assay results include:
FNX6083-W2
19.3% Cu, 0.3% Ni, 26.1 g/t Pt+Pd+Au over 0.5 metres
And
4.9% Cu, 12.4% Ni, 24.2 g/t Pt+Pd+Au over 0.4 metres
And
14.1 Cu, 0.5% Ni, 10.4 g/t Pt+Pd+Au over 0.6 metres
And
7.0% Cu, 0.1% Ni, 16.4 g/t Pt+Pd+Au over 1.1 metres
Dave King, SVP Exploration and Geoscience, stated, "We are encouraged by the assay results
received from our third drillhole testing the R2 exploration target as we continue to intersect high grade,
precious metal rich massive sulphide veins in the footwall environment of the Levack Mine. Drillhole
FNX6083-W2 was targeted north of FNX6083-W1, and intersected mineralization higher in the hole than
expected and is interpreted to be within the transition zone between the nickel rich pentlandite veins and
the copper rich chalcopyrite veins. In the Morrison Footwall Cu-PGE Deposit, located approximately 600
metres to the south-west of the R2 target area, this would indicate more chalcopyrite dominated veins
could be found at lower elevations. Footwall copper-precious metals systems in Sudbury often have
multiple vein orientations, and this appears to be the case for the R2 target area. We are in the early
stages of defining and understanding the controls on sulphide veining in the R2 target area and
recognize that the mineralization is complex. We will continue to refine our interpretation and adjust the
ongoing exploration program with each drillhole completed."
There are currently two surface diamond drills operating at the Levack Mine, both focused on the R2
target area, between the No. 3 Ni-Cu Zone and the Morrison Footwall Cu-PGE Deposit. Drillhole
FNX6083-W2 was a wedge hole designed to test approximately 40 metres north of FNX6083-W1 and
at the same elevation, however the hole intersected several narrow high grade sulphide veins
approximately 50 metres higher than expected. Mineralization consisted of nickel rich pentlandite veins
and copper rich chalcopyrite veins with high precious metal content, including 19.3% Cu, 0.3% Ni and
26.1 g/t Pt + Pd + Au over 0.5 metres. In comparison to other known footwall copper-precious metals
deposits at Levack, this would suggest drillhole FNX6083-W2 is within the transition zone, similar to the
Rob's Zone of the Morrison Deposit, and more chalcopyrite dominated veins could be expected at lower
elevations. Ongoing drilling is targeting this area as we continue to define the extent and geometry of the
R2 mineralization. Two additional drillholes, FNX6083-W3 and FNX2026-W1, both targeted down-dip of
FNX6083-W1, have been completed and assays are pending.
Also of significance, additional silver assays have been received for previously released drillholes MLV-
25-14A and FNX6083-W1 and include up to 190 g/t Ag over 1.0 metre in FNX6083-W1.
Drillhole
FNX6083-W2 also encountered silver mineralization associated with copper rich chalcopyrite veins,
including up to 127.0 g/t Ag over 0.5 metres and 109.0 g/t Ag over 0.6 metres.
See Table 1 for a
summary of assays results.
Levack Exploration Plan
Magna is focusing its near-term exploration program at the Levack Mine on this prospective footwall
environment, continuing to test the lateral and downdip extent of the R2 target and other high-priority
Sudbury Breccia units that have the potential to host copper and precious metals-rich footwall deposits.
Ongoing surface drilling on the R2 target will be designed to confirm and refine the geological model and
define the extent of mineralization. Additionally, one underground diamond drill is currently testing
footwall targets east of the Fecunis Fault, and a second underground drill will be active by month-end.
This drilling is designed to follow-up on a historical intersection in drillhole FNX21200 grading 33.4% Cu,
0.9% Ni, 23.9 g/t Pt + Pd + Au over 0.2 metres. The initial drillhole will target an off-hole geophysical
anomaly identified in FNX21200. Mineralization in this area could represent the Fecunis Fault offset
equivalent of the R2 mineralization and remains open for exploration in all directions.
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/8002/271548_c46f2ac6048fdabc_002full.jpg
Figure 2: Oblique 3D View Looking North-East, Showing the Levack Mine Mineralized Zones in
Relation to the R2 Target and Current Drilling
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/271548_c46f2ac6048fdabc_003full.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
Ag
g/t
Pt+Pd+Au
g/t
NiEq
CuEq
MLV-25-14A*
Levack
Levack
Contact
340.26
355.55
15.29
0.33
0.80
0.03
0.20
0.20
0.02
1.18
0.42
0.96
1.70
Including
350.82
355.55
4.73
0.56
1.09
0.04
0.41
0.46
0.04
1.59
0.90
1.40
2.50
No. 3
Footwall
790.38
792.80
2.42
1.70
0.92
0.02
1.29
1.88
0.08
7.19
3.25
2.19
3.90
Including
792.50
792.80
0.30
7.87
0.89
0.00
1.43
1.61
0.05
33.00
3.09
5.42
9.65
and
799.50
802.42
2.92
0.86
1.60
0.01
0.79
5.19
0.08
4.57
6.06
2.71
4.82
Including
799.50
800.07
0.57
2.59
8.07
0.04
3.41
14.36
0.03
14.00
17.80
10.83
19.28
FNX6083-W1*
Levack
R2 Target
991.85
992.22
0.37
16.68
0.07
0.00
1.33
2.44
0.09
52.00
3.86
9.57
17.03
and
1005.48
1005.78
0.30
13.75
0.49
0.00
3.29
13.72
1.56
40.00
18.57
10.67
18.99
and
1048.48
1048.84
0.36
2.87
0.05
0.00
7.98
5.64
0.81
40.00
14.43
3.73
6.65
and
1050.70
1051.15
0.45
3.24
0.10
0.00
0.70
1.93
0.54
19.00
3.17
2.36
4.19
and
1056.41
1056.71
0.30
6.58
0.68
0.01
7.03
8.18
1.31
42.00
16.52
6.65
11.83
and
1152.23
1154.83
2.60
12.77
0.55
0.01
3.39
7.79
20.67
87.57
31.85
15.06
26.81
Including
1153.16
1154.16
1.00
29.21
0.92
0.02
7.26
15.84
29.87
190.00
52.97
28.62
50.96
and
1196.60
1197.14
0.54
25.53
1.80
0.03
10.40
12.08
3.80
169.00
26.28
19.54
34.79
FNX6083-W2
Levack
No. 3
Footwall
1097.05
1097.56
0.51
19.27
0.26
0.01
8.91
15.19
2.02
127.00
26.12
14.57
25.95
and
1106.71
1116.47
9.76
1.93
0.69
0.01
1.53
2.41
0.54
14.32
4.48
2.35
4.19
including
1106.71
1107.12
0.41
4.91
12.36
0.10
6.82
16.21
1.15
46.00
24.18
16.85
30.01
and
1108.30
1108.87
0.57
14.12
0.52
0.01
2.16
7.00
1.28
109.00
10.44
9.71
17.28
and
1114.40
1115.50
1.10
7.02
0.09
0.01
6.81
7.48
2.12
40.27
16.40
6.49
11.55
Important Notes
*Previously Reported
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 Cu $/lb.
Metal prices in US$: $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)
FNX6083-W2
471667
5167000
398
116
63
1235
*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", "prospective", "significant" 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 assumptions,
expectations or estimates of potential mineralization, metal tonnes or grade, such as those related to the
Morrison Deposit, the failure of additional drilling to support additional expansion or delineation of
estimated resources, the failure of additional drilling to support production planning, the lack of
availability of drill rigs to implement exploration or other programs 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, assuming there will be any
restart, and other risks disclosed in the Company's annual 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
Executive Vice President
705-482-9667
Email:
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