Mining Stock Daily Magna Mining Drill Update including 24.9% Cu over 1.6m at Levack Mine
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Mar 31, 2025 Jason Jessup, CEO of Magna Mining, dives into the company’s promising recent drill results, highlighting an impressive 24.9% copper over 1.6 meters at the Levack mine. He discusses revitalization strategies for Levack, aimed for a 2026 reopening, and the importance of a recent $33.5 million financing that supports key projects. Jessup gives insights into the operational culture and modernization efforts at Levack, expressing optimism amidst fluctuating copper and nickel markets.
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McCready West Drilling Strategy
- Magna Mining's drilling at McCready West targets higher-grade copper areas.
- These areas were previously mined by Inco and filled with cemented sand.
Levack Mine Restart Plan
- Levack Mine, currently on care and maintenance, has an unmined Keel Zone.
- Magna Mining aims to restart Levack in 2026 by focusing on this high-grade zone.
Two Mines, One Complex?
- McCready West and Levack mines are connected by a drift on the 1,600 level.
- While practically managed together, they require separate teams for efficient operation.