Magna Mining, SPC Nickel bring new ideas in finding new mineral zones around old mines
Two Sudbury junior miners are laying the groundwork for the next generation of nickel, copper and platinum group metal mines in the basin.
In the last few months, Magna has been metering out assay results from a short hole drilling program where it’s been seeing high-grade intercepts of nickel, copper and platinum group metals near the surface at its Crean Hill property, located on the southwest end of the Sudbury basin. Despite the challenges experienced by many junior mining outfits in raising exploration dollars, Magna said the $18 million raised earlier this year should last them for the balance of this year “and beyond.”
Mourre said 5,000 metres of drilling has confirmed that a mineralized zone does extend across the boundary onto the Crean Hill 3 property. They’ve discovered wide zones of nickel and copper mineralization at grades equal to or better than the grade that they're finding out their West Graham property.
The company expects to turn out a mineral resource estimate by year’s end as they move on to the next round of drilling. The current focus of New Age Metals seems to be on chasing lithium and expanding its claims footprint in southeastern Manitoba. New Age recently pocketed a $300,000 grant from the Manitoba Mineral Development Fund to help with its exploration expenses.
Instead, they’ll issue a new PEA sometime this summer with a reworked mine plan, timetable and processing method. The operation, the company said, will be smaller with a reduced environmental footprint.
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