Magna Mining Uncovers High-Grade Copper and Precious Metals in Levack Mine Footwall Drilling
Event summary
- Magna Mining reported high-grade copper and precious metals in five new diamond drill holes at the Levack Mine, including 24.4% Cu and 173 g/t Ag over 1.0 metre.
- The R2 Zone mineralization now spans 300 metres vertically and 150 metres north-south, remaining open for further exploration.
- Additional assay results from previously released drill holes confirmed high-grade intersections, including 11.0% Cu and 42.0 g/t Ag over 0.3 metres.
- Underground drilling targeted new footwall areas, encountering precious metals-rich mineralization, with follow-up drilling planned.
- A Preliminary Economic Assessment (PEA) based on the recent NI 43-101 Mineral Resource Estimate is underway, with completion targeted for fall 2026.
The big picture
Magna Mining's latest drill results reinforce the high-grade potential of the Levack Mine, a strategic asset in the Sudbury Basin. The discovery of multiple high-grade copper and precious metals intersections positions the company to potentially expand its resource base, a critical factor in sustaining long-term production. The ongoing PEA will be key in assessing the economic feasibility of bringing the Levack Mine back into production, aligning with broader industry trends of resource optimization and exploration-driven growth.
What we're watching
- Resource Expansion
- Whether the R2 Zone can sustain high-grade intersections as drilling continues up dip and towards the No. 3 Footwall Zone.
- Economic Viability
- The pace at which the Preliminary Economic Assessment will validate the commercial potential of the Levack Mine.
- Exploration Upside
- How additional drilling in underexplored footwall areas could uncover new high-grade zones beyond the R2 Zone.
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