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

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.

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

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.

Shakespeare has already been given permission to house a processing facility. And tailings pond with a capacity of 4,500 tonnes per day.