Magna Mining(TSXV:nicu)

Magna Mining is a junior mining company focused on copper and nickel production in North America's premier mining district, Sudbury, Ontario.

Investor website: https://magnamining.com/

About

Magna Mining is a junior mining company focused on copper and nickel production in North America's premier mining district, Sudbury, Ontario. The company is recognized for its advanced stage projects and aims to contribute to the growing demand for these essential metals.

Verified company data

Cash position
$55.9 million
Shares outstanding
249,484,161
Fully diluted shares
263,528,397
Mineral resource
The PEA potentially mineable resources are a subset of the current Crean Hill Mineral Resource Inventory (Table 7). Appropriate mining dilution and recoveries were applied to the design stopes depending on mining method used. Allan Armitage, Ph.D., P. Geo. of SGS Geological Services is an independent Qualified Person as defined by NI 43-101 and is responsible for the current Crean Hill MRE.
Projects
["Magna Mining Announces Acquisition of Patented Claims within the Shakespeare Project: June 8th, 2021, Sudbury, Ontario, Canada – Magna Mining Inc. (TSXV: NICU) (the “Company” or “Magna”) announces that they have signed a definitive agreement to acquire a 50% interest in eight (8) patented claims in Baldwin Township, the “Baldwin Copper Patents”, comprising 132.8 hectares of land. Seven claims comprise both surface and mining rights, while the remaining claim is restricted to mining rights only. The 50% interest in these claims was acquired for $80,000 in cash and the vendor will retain a 1% Net Smelter Return (NSR) royalty. The acquisition is expected to close on or around June 18, 2021. Magna Mining CEO Jason Jessup stated: “The acquisition of the Baldwin Copper Patents is in line with our strategy to further consolidate the Shakespeare Property and acquire prospective properties that have potential synergies with our existing Shakespeare Mine project. The most recently reported diamond drilling on these claims was in the 1950’s. Ursa Major Minerals Inc. (a subsidiary of Magna Mining) flew an airborne VTEM survey in 2015, which identified a strong EM anomaly on the Baldwin Copper Patents. Follow-up work will be completed later in 2021. The claims are located 600m west of our Springer Showing where Magna samples have returned assays up to 7.97% Cu, 0.54 g/t Au and 27 gpt Ag on surface in 2018.","Magna Mining Exploration Update for the Shakespeare Ni-Cu-PGM Project, Ontario, Canada: August 17, 2021, Sudbury, Ontario, Canada – Magna Mining Inc. (TSX.V: NICU) (“Magna” or the “Company”) is pleased to provide the following update on exploration activities at the Shakespeare Nickel-Copper-PGM Project. The exploration drilling program is well advanced, with 5,203 meters drilled to date from a planned program of 9,000 meters. Numerous assay results are pending due to severe delays in assay turnaround times. “Although receipts of assay results are well behind our expectations, we are encouraged by our visual assessments of the drill core.” said Mynyr Hoxha, Vice President of Exploration. The objective of the current drill program at the Shakespeare Mine is to expand near surface resources and test footwall resource expansion targets around the S-13 Zone. At the Shakespeare Mine, 3,726 metres of drilling in 14 holes (plus one deepened hole) have been completed to date. Borehole Electro Magnetic (BHEM) surveys conducted at Shakespeare in June will be repeated over the next two weeks. The objective of the planned BHEM survey is to further refine drill targets in the area of the previously identified large gravity anomaly in the footwall of the Shakespeare deposit (the “Birds Bane Anomaly”). Regional exploration drilling has also been conducted, including 873 metres in 4 holes at the Springer Pit Copper-Gold targets, located approximately 5-kilometers south-east of the Shakespeare deposit.","Magna Mining Intersects 52.57 Metres Of Ni-Cu-PGM Mineralization At The Shakespeare Project, Ontario, Canada: November 4, 2021, Sudbury, Ontario, Canada – Magna Mining Inc. (TSX.V: NICU) (“Magna” or the “Company”) is pleased to announce assay results from recent drilling at its Shakespeare Project, located near Sudbury, Ontario. All holes reported are in the immediate vicinity of the Shakespeare West Zone, Gap Zone and East Zone. Drilling and assay results demonstrate the potential to expand on existing shallow resources and close the gap (Gap Zone) between the currently defined West and East Zones. Jason Jessup, Chief Executive Officer of Magna, stated “We are quite pleased with the assay results at our Shakespeare Mine, which have supported our longstanding belief that the Gap Zone is mineralized. These results also support our view that the defined mineralization below the western part of our Shakespeare deposit was limited by a lack of drilling. This information demonstrates the potential to grow the open pit Mineral Resources at Shakespeare, as well as potential to add underground Mineral Resources. We are quite excited to view these results in context of an updated feasibility study on the stand-alone Shakespeare mine and mill operation. We anticipate having the feasibility study completed by early Q1 2022."]
Leadership
Jason Jessup (CEO, MBA with extensive experience in mining and corporate governance.), Jeff Huffman (COO, Former President and COO of Dumas Contracting Ltd. with a strong background in mining operations and management.), John Seaman (Director, ICD.D with over 22 years of experience in the mining industry, currently the Lead Director of Premier Gold Mines.), Jonathan Goodman (Non-Executive Director, President and CEO of Dundee Corporation with over 30 years of experience in the resource and investment industry.)

Verified data last updated: 2026-05-15

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