Mining Explorer Hits New High on High-Grade Copper Cut in Canada's Premier District

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Thursday, August 28, 2025

As commodity prices continue their upward trajectory and global demand for critical metals intensifies, mining companies are racing to unlock new discoveries in proven districts. Today, one explorer operating in Canada's world-renowned Sudbury Basin delivered results that sent shockwaves through the mining community, revealing some of the highest-grade copper intersections seen in the region in years.

Shareholders of Magna Mining Inc. (TSX-V: NICU) (OTCQX: MGMNF) were rewarded after the company announced promising drilling results from its Levack Mine property in Ontario's Sudbury Basin. The standout intersection delivered an exceptional 29.2% copper, 0.9% nickel, and 53.0 g/t platinum + palladium + gold over 1.0 meter, located 140 meters below a previous high-grade intersection at what the company calls the Rob's 2 (R2) target.

The latest drill hole, FNX6083-W1, intersected multiple mineralized intervals ranging from copper-rich veinlets to massive chalcopyrite zones. The broader intersection returned 12.8% copper, 0.6% nickel, and 31.8 g/t platinum + palladium + gold over 2.6 meters, with an additional high-grade section of 25.5% copper, 1.8% nickel, and 26.3 g/t platinum + palladium + gold over 0.5 meters. These results demonstrate the potential for a significant mineralized system in the footwall environment of the historic Levack Mine.

According to Dave King, SVP Exploration and Geoscience, the drilling results confirm the company's belief that the exploration environment at Levack remains under-explored. The geology and vein mineralogy show notable similarities to the upper levels of the Morrison Footwall Cu-PGE Deposit, which was successfully mined until 2019. King highlighted that the recent intersection includes a remarkable 29.9 g/t gold along with significant platinum and palladium values.

The company is currently operating two surface diamond drills at Levack, one focused on infill and metallurgical drilling for the Main Ni-Cu Zone to support restart studies, and another exploring the prospective footwall environment. Magna plans to ramp up drilling activities with two underground diamond drills mobilizing in the coming weeks, targeting the lateral and down-dip extent of the R2 target and other high-priority areas.

The Morrison Deposit, discovered in 2005 and mined until 2019, provides an encouraging geological model for the R2 target. The deposit featured a distinct vertical mineralogical trend, transitioning from nickel-rich veins in upper levels to copper-rich chalcopyrite veins with increasing precious metal concentrations at depth. The massive sulfide veins varied from less than 1 meter to more than 6 meters in thickness, offering significant potential for the current exploration target.

Toronto-listed shares of NICU hit a new 52-week high, currently up 4.5% at $2.40, while U.S.-listed shares of MGMNF have set a record too, gaining 6.4% at $1.76 in morning trading.

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