Magna Mining Provides an Update on Advanced Exploration at the Crean Hill Project and Corporate Update
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) has completed the surface bulk sample mining at the Crean Hill Project in Sudbury, Ontario. The company excavated 20,714 tonnes of rock, which was crushed and hauled to Glencore's Strathcona Mill. The project was executed on time and to plan, with milling commencing on September 2, 2024. The bulk sample will be processed separately to evaluate metallurgical performance and reconcile against resource estimates.
Magna has also initiated dewatering of underground workings to gather data for long-term strategy. The company expects to announce bulk sample assays within 4-6 weeks. Additionally, Magna announced the departure of CFO Ann-Marie Finney, effective October 4, 2024.
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) ha completato il campionamento di massa in superficie presso il Progetto Crean Hill a Sudbury, Ontario. L'azienda ha scavato 20.714 tonnellate di roccia, che sono state frantumate e trasportate al Mulino Strathcona di Glencore. Il progetto è stato eseguito in tempo e secondo il piano, con la macinazione che ha avuto inizio il 2 settembre 2024. Il campione di massa sarà lavorato separatamente per valutare le prestazioni metallurgiche e confrontarsi con le stime delle risorse.
Magna ha anche avviato l'estrazione dell'acqua dai lavori sotterranei per raccogliere dati per una strategia a lungo termine. L'azienda prevede di annunciare i risultati dell'analisi dei campioni di massa entro 4-6 settimane. Inoltre, Magna ha annunciato le dimissioni del CFO Ann-Marie Finney, effettive dal 4 ottobre 2024.
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) ha completado el muestreo a gran escala en superficie en el Proyecto Crean Hill en Sudbury, Ontario. La compañía excavó 20,714 toneladas de roca, que fueron trituradas y transportadas al Molino Strathcona de Glencore. El proyecto se ejecutó puntualmente y según lo planeado, comenzando la molienda el 2 de septiembre de 2024. El muestreo a gran escala se procesará por separado para evaluar el rendimiento metalúrgico y reconciliarlo con las estimaciones de recursos.
Magna también ha iniciado el drenaje de las obras subterráneas para reunir datos para una estrategia a largo plazo. La compañía espera anunciar los análisis de los muestreos a gran escala en un plazo de 4-6 semanas. Además, Magna anunció la salida de la CFO Ann-Marie Finney, efectiva el 4 de octubre de 2024.
Magna Mining (TSXV: NICU) (OTCQB: MGMNF)는 온타리오 주 서드버리의 Crean Hill 프로젝트에서 표면 대량 샘플 채굴을 완료했습니다. 회사는 20,714톤의 암석을 굴착했으며, 이는 분쇄되어 Glencore의 Strathcona 밀로 운반되었습니다. 이 프로젝트는 정시에 계획대로 진행되었으며, 밀링 작업은 2024년 9월 2일에 시작됩니다. 대량 샘플은 금속 성능을 평가하고 자원 추정치와 비교하기 위해 별도로 처리될 것입니다.
Magna는 또한 지하 작업의 배수를 시작하여 장기 전략을 위한 데이터를 수집하고 있습니다. 회사는 4-6주 이내에 대량 샘플 분석 결과를 발표할 것으로 기대하고 있습니다. 추가로 Magna는 CFO Ann-Marie Finney의 사임을 2024년 10월 4일자로 발표했습니다.
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) a terminé le minage d'échantillons en vrac en surface au projet Crean Hill à Sudbury, Ontario. L'entreprise a excavé 20 714 tonnes de roche, qui ont été broyées et transportées au Moulin Strathcona de Glencore. Le projet a été réalisé dans les délais et selon le plan, avec le début du broyage le 2 septembre 2024. L'échantillon en vrac sera traité séparément pour évaluer la performance métallurgique et comparer avec les estimations de ressources.
Magna a également lancé le drainage des travaux souterrains afin de recueillir des données pour une stratégie à long terme. L'entreprise prévoit d'annoncer les analyses des échantillons en vrac dans un délai de 4 à 6 semaines. De plus, Magna a annoncé le départ de la CFO Ann-Marie Finney, effectif le 4 octobre 2024.
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) hat das Oberflächenbulk-Probenabbau im Crean Hill-Projekt in Sudbury, Ontario, abgeschlossen. Das Unternehmen hat 20.714 Tonnen Gestein abgebaut, die zerkleinert und zur Strathcona-Mühle von Glencore transportiert wurden. Das Projekt wurde rechtzeitig und planmäßig durchgeführt, mit dem Mahlbetrieb, der am 2. September 2024 begann. Die Bulkprobe wird separat verarbeitet, um die metallurgische Leistung zu bewerten und mit den Ressourcen-Schätzungen abzugleichen.
Magna hat auch mit der Wasserentziehung aus den Untertagarbeiten begonnen, um Daten für eine langfristige Strategie zu sammeln. Das Unternehmen plant, innerhalb von 4-6 Wochen die Ergebnisse der Bulkprobenanalysen bekannt zu geben. Außerdem kündigte Magna das Ausscheiden von CFO Ann-Marie Finney, wirksam am 4. Oktober 2024, an.
- Completed surface bulk sample mining of 20,714 tonnes on time and to plan
- Observed semi-massive and massive sulphides throughout the sample
- Initial grab samples reconciling well with internal grade estimates
- Bulk sample program conducted without environmental issues or injuries
- Initiated dewatering of underground workings to gather data for long-term strategy
- Departure of CFO Ann-Marie Finney, effective October 4, 2024
Sudbury, Ontario--(Newsfile Corp. - September 5, 2024) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to provide an update on the Advanced Exploration surface bulk sample at the Crean Hill Project in Sudbury, Ontario.
The mining of the surface bulk sample commenced on July 2, 2024, and the final blast was on August 15, 2024. A total of 20,714 tonnes of rock was excavated, crushed and hauled to Glencore Sudbury Integrated Nickel Operations' ("Glencore") Strathcona Mill, with the last truck arriving on August 29, 2024. The project was executed on time and to the planned design. Three 8-metre-high benches were extracted from the 109 Footwall Zone, with routine grab samples taken from each truckload that was hauled to the stockpile. Mapping was completed on each bench to identify mineralized trends and structures. This information will be used to better understand this mineralized zone and design mining stopes for the underground portion of the advanced exploration program. The milling of the ore commenced on September 2, 2024, and is scheduled to be completed on September 6, 2024. The bulk sample will be processed separately through the Strathcona Mill with samples taken from various parts of the circuit to evaluate and improve metallurgical performance, enhance recoveries and reconcile against our resource estimate.
Jason Jessup, CEO of Magna Mining commented, "Magna, working with ADLP as the mining contractor and Z'Gamok as our crushing and haulage contractor, have executed the surface bulk sample work on time and on budget, while slightly exceeding our original designed bulk sample tonnage. We observed semi-massive and massive sulphides throughout the sample and initial grab samples are reconciling well to our internal grade estimates. The bulk sample program on site was conducted without any environmental issues or injuries. The next phase of the surface bulk sample is underway as Glencore is processing this material through their mill this week. We will expect to have assays for the bulk sample ready to announce within the next 4 - 6 weeks."
Magna has also initiated dewatering of the underground workings. The current system is temporary while the long-term dewatering system and infrastructure designs are finalized. This initial dewatering will provide data and information to better plan and implement our long-term dewatering strategy.
Image 1: 109 FW Mineralized Bulk Sample Rock Being Hauled Out of the Pit
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Image 2: Surface Bulk Sample at Crean Hill
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Image 3: Bulk Sample Stockpile and Haulage Trucks Leaving the Crean Hill Site
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Image 4: Magna Ore Being Processed Through the Floatation Circuit at Strathcona Mill
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Corporate Update
The Company announces the departure of Ms. Ann-Marie Finney from her position as Chief Financial Officer ("CFO"). Ms. Finney will remain with the Company as CFO until October 4, 2024.
"Ms. Finney has been a valued member of our executive team since joining the Company in May of 2023", said Jason Jessup, Chief Executive Officer. "On behalf of the Board and our executive team, I want to thank Ms. Finney for her contributions and wish her continued success in her future endeavors."
Qualified Person
The 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 Canadian National Instrument 43-101.
About Magna Mining Inc.
Magna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada. The Company's flagship assets are the past producing Shakespeare and Crean Hill Mines. The Shakespeare Mine is a feasibility stage project which has major permits for the construction of a 4,500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km2 prospective land package. Crean Hill is a past producing nickel, copper and PGM mine with a technical report dated July 2023. Additional information about the Company is available on SEDAR (www.sedar.com) 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
Email: info@magnamining.com
Cautionary Statement
This press release contains certain forward-looking information or forward-looking statements as defined in applicable securities laws. Forward-Looking statements are not historical facts and are subject to several risks and uncertainties beyond the Company's control, including statements regarding the production at the Shakespeare and Crean Hill Mines, the economic and operational potential of the Shakespeare and Crean Hill Mines, potential acquisitions, plans to complete exploration programs, potential mineralization, exploration results and statements regarding beliefs, plans, expectations, or intentions of the Company. Resource exploration and development is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222192
FAQ
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