Magna Mining moves into advanced exploration at Crean Hill Project
Magna Mining, a home-grown Sudbury mine developer, is putting the paperwork in place to test mine a former INCO mine.
Crean Hill is located in the southwest corner of the Sudbury basin. Under the Inco flag, it ran from 1900 to 2002. Magna acquired the asset from Vale in November 2022 and put 19,000 metres of drilling into the property last year. The company intends to take a large tonnage bulk sample from the surface at a spot on the property called the 101 Footwall Zone. It contains high-grade palladium group metals, along with nickel and copper.
A closure plan is one of two key permit approvals that a mining company needs to move a project from the exploration stage toward production. “Magna now has all the approvals to conduct a surface bulk sample on the 109 Footwall zone, which we plan to complete in the first half of this year.” Taking that into account, Magna management wants to tap into government critical minerals-related grants and is considering selling a streaming deal of one of its metal by-products.
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