Magna Mining: Exploration and the potential for fast track production at the past-producing Shakespeare Mine in Sudbury, Ontario
Magna Mining (TSXV:NICU) has launched its campaign on the Investing News Network
Magna Mining (TSXV:NICU) leverages on its flagship project, the 100 percent owned Shakespeare Mine, also boasts an NI 43-101 resource, major permits required for the construction of an open pit mine, mill and tailing storage facility. The Shakespeare mine has an indicated open pit resource of 14.4 million tonnes at 0.34 percent nickel, 0.37 percent copper and 0.9g/t total precious metals (TPM).
Following a successful go-public transaction in May 2021, Magna Mining is planning an aggressive and exciting exploration program at Shakespeare, which will include multiple drill targets adjacent to the company’s existing deposit. The existing resource and permits at Shakespeare also offer the opportunity to bring the deposit back into production on an accelerated timeline, a unique advantage for a junior mining company.
Magna Mining: Company Highlights
- Magna Mining is a Sudbury-focused base metal exploration and development company.
- The flagship asset is the Shakespeare Mine, a past producing, Ni-Cu-PGM mine with major permits in place. The permits cover the construction of a 4,500 tonne per day mine, mill and tailings storage facility.
- The current deposit at Shakespeare hosts an NI 43-101 indicated open pit resource of 14.4 million tonnes.
- Throughout 2008 to 2012, the Shakespeare Mine processed over 480,000 tons of ore through a third-party mill at average grades of 0.33 percent nickel, 0.38 percent copper and 0.9g/t PGM + Au. This means that the metallurgy of the deposit is already well understood.
- The extensive Sudbury-region experience of Magna Mining’s management team should position the company well for both exploration and operational success.
- Overall, Magna Mining boasts many features which are rare to find in a junior mining company, including experienced local leadership and an advanced stage asset with major permits to go into production. Augmenting this is a large contiguous land package with significant exploration potential.