Magna Mining Signs Toll Milling Agreement with Glencore Canada for Crean Hill Project
Exploration and development company Magna Mining has finalized a toll milling agreement with Glencore Canada for the surface bulk sample of the 109 Footwall (FW) zone at its Crean Hill project, located in Sudbury, Ontario.
According to CEO Jason Jessup, this agreement marks a significant advancement for the Crean Hill project, which is a former producer of nickel, copper, and platinum group metals (PGM). Jessup emphasizes the collaboration with local major mining companies as a key strategy for project advancement.
In March, Magna entered a definitive offtake agreement with Vale Canada for advanced exploration at Crean Hill, excluding the 109 FW zone to explore alternative processing methods for better recoveries of copper/PGM-rich mineralization.
Magna plans to transport approximately 20,000 tonnes of mineralized rock from the near-surface portion of the 109 FW zone to Glencore’s Strathcona mill for processing into a bulk concentrate.
This will provide valuable data on base and precious metal recoveries, aiding in the planning of underground exploration and future commercial production.
Recent diamond drilling in the sample area yielded promising results, including hole MCB-24-029, which intersected 2.9% copper, 0.9% nickel, and 9.5 g/t platinum, palladium, and gold over 6.3 meters from the surface. These drilling outcomes will inform the design of the surface bulk sample, alongside pending assay results from additional drilling.
Magna intends to award the contract for surface bulk sample work soon, with contractors expected to mobilize to the site in June. The surface work is estimated to take four to six weeks, with toll milling anticipated to conclude in the third quarter of 2024.
