Magna Mining Launches Pre-Feasibility Study for Crean Hill Project

Magna Mining Inc. has announced the commencement of a pre-feasibility study (PFS) for its wholly owned Crean Hill Project in Sudbury, Ontario. The company has engaged Technica Mining Inc. to undertake this important assessment, which is expected to expand on the findings of the Preliminary Economic Assessment (PEA) completed in 2024.

Jason Jessup, Chief Executive Officer of Magna Mining, highlighted the project’s potential, stating, “Our Crean Hill Project demonstrates an attractive combination of base and precious metals.” He noted that the 2024 PEA had already outlined a promising framework, suggesting a mine life of 13 years, modest pre-production capital costs, and a robust internal rate of return based on conservative precious metals prices.

In an effort to advance the project, Magna Mining has been integrating the properties acquired from KGHM earlier in the year, while simultaneously progressing engineering work at Crean Hill. This includes plans for a connection to grid power and the establishment of a permanent dewatering system, essential for future development. Jessup emphasized that these initiatives will significantly benefit the updated economic evaluation of the project in 2026.

Details of the Pre-Feasibility Study

The PFS is set to begin in January 2026, with completion anticipated in the third quarter of the same year. It will build on the PEA results from September 2024 and incorporate data from a 20,000 tonne bulk sample program conducted in late 2024. The PEA had proposed an underground mining operation, with plans for an initial 15-month Advanced Exploration (AdEx) program followed by a 12-month pre-production ramp-up. The anticipated mining will start through a new surface portal, with future access via the historic #2 shaft.

Importantly, permits for the AdEx program at Crean Hill are already secured, allowing for a timely progression of the study. The PFS will be executed alongside ongoing evaluations at the Levack Mine, reinforcing Magna’s strategic goal of establishing itself as a multi-mine producer in the Sudbury Basin.

Mineral Resource Highlights

The 2024 PEA was based on the most current Crean Hill Mineral Resource Inventory, prepared by SGS Geological Services with an effective date of April 15, 2024. The majority of the mineral resources are identified as contact nickel-copper zones, complemented by additional footwall copper-nickel-precious metals. These include significant resources of platinum, palladium, and gold.

Notable drill intersections from the Crean Hill site include a sample from the 109 FW Zone, which recorded 0.6% copper and 0.2% nickel along with an impressive 11.0 g/t of platinum, palladium, and gold over a length of 95.4 meters. Additionally, drillhole LM04760 revealed 0.3% copper and 0.5% nickel, yielding 38.4 g/t platinum, 28.2 g/t palladium, and 8.1 g/t gold over 8.5 meters.

The underground cut-off grade for the resource estimate stands at 1.10% NiEq, factoring in various metal prices and recovery rates. This comprehensive data supports the project’s viability and potential for future growth.

Magna Mining remains focused on its exploration and development strategy, particularly in the Sudbury region, which is recognized for its rich mineral resources. The company’s flagship assets include both the Crean Hill and Shakespeare mines, with the latter already in the feasibility stage for a new open-pit operation.

As the pre-feasibility study progresses, stakeholders will be keen to monitor the results, which are pivotal for the future of the Crean Hill Project and Magna Mining’s ambitions in the mining sector. For further updates, interested parties can refer to the company’s official communications and SEDAR+ filings.