Magna wraps 2021 drilling at Shakespeare with lengthy, sturdy nickel and copper

  • Gap MMC-21-27 within the East zone returned 47.7 metres grading 0.25% nickel, 0.03% copper and 0.02% cobalt, together with 33 metres at 0.3% nickel, 0.36% copper and 0.02% cobalt;
  • Gap MMC-21-29 within the west zone returned 64.2 metres grading 0.35% nickel, 0.41% copper and 0.02% cobalt; and
  • Gap MMC-21-34 within the Hole zone returned 11.5 metres grading 0.2% nickel, 0.25% copper and 0.01% cobalt.

These holes additionally contained platinum, palladium and gold. Assays are pending from two extra holes. The deposit is open alongside the east-west strike and at depth.

Magna CEO Jason Jessup mentioned in a launch that the corporate is happy with the outcomes, which help the crew’s perception that they’ll add important open pit sources on the mission.

The Shakespeare property comprises a previous producing mine, which produced 2,959 oz. of gold from 1905 to 1948. It was later mined for its nickel-copper ore till suspension in 2012.

A Nationwide Instrument 43-101 compliant report was launched for Shakespeare a yr in the past. It outlined an open pit indicated useful resource of 14.4 million tonnes grading 0.34% nickel, 0.37% copper and 0.02% cobalt (0.63% nickel-equivalent) and an inferred pit useful resource of 1.7 million tonnes at 0.29% nickel, 0.31% copper and 0.02% cobalt (0.54% nickel-equivalent).

The underground indicated useful resource is 2.5 million tonnes at 0.33% nickel, 0.38% copper and 0.02% cobalt (0.62% nickel-equivalent) and an inferred useful resource of two.9 million tonnes at 0.34% nickel, 0.39% copper and 0.02% cobalt (0.64% nickel-equivalent). The nickel-equivalent grades embody palladium-platinum-gold content material.

Magna notes that the Shakespeare mission is permitted, and that the feasibility research might be launched within the first quarter this yr. Extra drilling is to start this month.

(This text first appeared within the Canadian Mining Journal)


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