Magna Mining Inc. has engaged Technica Mining Inc. to conduct a pre-feasibility study on its Crean Hill Project in Sudbury, Ontario. The study, expected to be completed in Q3 2026, will build upon the 2024 Preliminary Economic Assessment (PEA) and include work completed in 2024. The PEA outlined a 13-year mine life with attractive economics.

The 2024 PEA demonstrated a low pre-production capital cost of $27.7 million, with projected revenues of $16.4 million. The mine is forecasted to have an average underground production rate of 2,200 tonnes per day and a 13-year mine life with significant resources of nickel, copper, and precious metals. The after-tax Net Present Value is $194.1 million.

The 2024 PEA is based on the Crean Hill Mineral Resource Inventory completed by SGS Geological Services. The majority of mineral resources are nickel-copper zones with footwall copper-nickel-precious metal zones. Drill results have shown intersections with significant grades of copper, nickel, platinum, palladium, and gold in the footwall zones.

The Crean Hill Property Mineral Resource Estimate is based on a validated drill hole database and 3D resource models. The resource is reported at a base case cut-off grade of 1.10% NiEq and considers metal prices, recoveries, and mining costs. The mineral resource estimate has reasonable prospects for eventual economic extraction.

Magna Mining is focused on nickel, copper, and PGM projects in the Sudbury region of Ontario, including the Shakespeare and Crean Hill Mines. The Shakespeare Mine is at the feasibility stage, while Crean Hill is a past producing nickel, copper, and PGM mine. Additional information is available on SEDAR and the company’s website.

Read more at GlobeNewswire: Magna Mining to Initiate a Pre-Feasibility Study on the