The present settlement with Glencore is for the 109 FW zone floor bulk pattern solely. The March 2024 settlement with Vale Canada didn’t embrace the 109 FW zone.
Magna intends to ship roughly 20,000 tonnes of ore from the close to floor portion of the 109 FW zone. The fabric shall be processed individually by means of the Strathcona mill and produce a bulk focus. The outcomes will present restoration data on base and treasured metals, permitting Magna to raised plan underground superior exploration and future industrial manufacturing.
Not too long ago, a collection of brief diamond drill holes have been accomplished within the space of the floor bulk pattern, and in Could, Magna reported assay outcomes from the primary eight holes of this program. The outcomes included gap MCB-24-029 which intersected 2.9% copper, 0.9% nickel and 9.5 g/t platinum-palladium-gold over 6.3 metres beginning at floor.
This drilling shall be included into the floor bulk pattern design, in addition to extra drilling for which assays are pending.
Magna plans on awarding the contract for the floor bulk pattern work within the coming days and intends to have contractors mobilize to the positioning in June. It’s estimated that the floor work will take 4 to 6 weeks and the toll milling shall be accomplished within the third quarter this 12 months.
The high-grade Crean Hill deposit has been mined sporadically between 1906 and 2017. The mine produced over 20 million tonnes of ore throughout that point. Magna bought the property in 2022 from Lonmin Mining.