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Mining Stock Daily

Magna Mining Drill Update including 24.9% Cu over 1.6m at Levack Mine

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.
14:57

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Podcast summary created with Snipd AI

Quick takeaways

  • Magna Mining reported promising drill results at McCreedy West, highlighting significant copper grades that indicate a potential increase in ore quality and production yield.
  • The company secured $33.5 million in financing to advance operations and plans for a strategic restart of the Levack mine by 2026, amidst stable copper prices.

Deep dives

Overview of Recent Drill Results

Recent drill results from the McCready West and Levesque operations indicate promising copper grades, with significant concentrations of precious metals also reported. At McCready West, drilling is focusing on a copper-dominated ore body located in the 700-foot wall zone, which has the potential for higher grade ores compared to past mining. The strategy includes targeting areas near old mining workings, where drilling has revealed viable sand fill, suggesting that more metal can be extracted. The positive results affirm the operation's potential to enhance ore quality and production yield moving forward.

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