ShreeMetalPrices: Sudbury Mines discovers fresh resources of copper, nickel, cobalt, palladium, gold, and platinum


Magna Mining, a Sudbury-based prospective metals producer has found a new mineral area close to the surface at the old Inco mining area.

This winter, a drill programme was start by a local company to determine how much life remains in the once-productive Crean Hill mine. Which is located in the southeast part of the Sudbury basin.

They currently have some visible proof of this after revealing large areas of nickel & copper mineralization in an underexplored portion of area.

The finding was located a kilometre east of an area with a known resource of roughly 31 million Metric tonnes of Copper, Nickel, Cobalt, Palladium, Gold & Platinum.

Magna stated in a news publication on Feb 23 that although only 4 drill holes have been finish as part of this exploration programme thus far, “core visuals” have confirmed the discovery of a new area of sulphide mineralization that may represent a new resource or deposit that may be suitable for open-pit mining.

The exploration team at Magna had been monitoring some old drilling that done by another firm. The assay lab yet have to come the results, but the firm is hopeful about the beginning.

Magna vice president Dave King said in a statement, “We are encourage to find close surface mineralization along strike of the established Crean Hill mining ore areas.”

Sudbury Mines raised $18 million for discoveries of Copper & Nickel

If the nickel & Copper grades are comparable with the earlier drill hole, the widths of the mineral intersected are important. This area might be suitable for open pit mining with further definition drilling.
Within four weeks, we projects for having the assay findings for this initial drilling. And we will report results right away.

After operating for 80 years. The Crean Hill Mine, an old Inco underground facility, close to Whitefish, was shut down in 2002. Late last year, Magna purchased the heavily-drilled land from Lonmin Canada.

Company is increasing the capacity of a potential open-pit nickel mine at its Shakespeare property, 45 km of Sudbury Mines.

A mine that’s been briefly run by some other company during 2010 & 2012 would restart. Magna published a feasibility study indicating resources of 14.4 million Metric tonnes with a 7 year mine life. Although exploration drilling findings indicate it may be longer.

The assay findings of a 2 round of drilling at the deposit show Copper, Nickel, & Platinum group metals mineralization continuing to the west & dipping but shallowly, implying that there are more resources available. That can be accommodated into a wider pit operation.

Both projects are include in a hub-and-spoke processing & mineral model that Magna is now constructing as a preliminary economic assessment. If the company choose to build it. Shakespeare has already been given permission to house a processing facility. And tailings pond with a capacity of 4,500 tonnes per day.