Mining Stock Daily Magna Mining Drills Promising Grade to Support Potential Restart of Levack Mine
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May 1, 2025 Jason Jessup, CEO of Magna Mining, shares insights on the promising developments at the Levack Mine and McCreedy West projects. He highlights impressive drilling results, showcasing high-grade copper and platinum-palladium mineralization that could drive a potential restart of operations. Jessup discusses innovative drilling strategies and the importance of cash flow from McCreedy. He also explores options for accessing valuable footwall deposits and shares optimistic projections for the company's future growth.
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Levack's High-Grade Legacy
- Levack Mine has historically produced high-grade copper with precious metals and nickel byproducts.
- Current drilling confirms continued high-grade potential, though steady grades will involve some dilution.
Keel Zone's Geological Potential
- The Keel Zone is a key footwall zone near Levack, close to surface at 500 to 1,000 feet depth.
- Drilling confirmed two intersecting veins, guiding plans to expand mineralization for a potential 2026 restart.
Access Strategies for Footwall Ore
- Development options include a new surface portal with ramp access or using the existing shaft.
- Early access to high-grade ore via ramps could generate early revenue in a Levesque restart.