Magna Mining (TSXV: NICU; US-OTC: MGMNF) is starting a 20,000-tonne bulk sampling program at its Crean Hill nickel project in Ontario’s Sudbury Basin for processing at Glencore’s (LSE: GLEN) Strathcona mill for processing, senior vice president Paul Fowler said in an interview.
“This bulk sample marks a key step toward commercial production,” Fowler said last month during the Rule Symposium in Boca Raton, Fla. “We have all the necessary permits in place, and this move puts us on the fast track to generating cash flow from the project.”
Crean Hill is a past-producing mine with over 30 million tonnes of indicated resources. These include 16.8 million tonnes in the open pit grading 1.08% nickel-equivalent for 195.8 million lb. nickel, 181 million lb. copper and 592,740 oz. platinum, palladium and gold.
The project also has 14.5 million tonnes of underground material at 2.07% nickel-equivalent for 307.5 million lb. nickel, 270 million lb. copper and 1.1 million oz. of precious metals.
The company plans to use the cash flow from Crean Hill to develop its nearby Shakespeare project, aiming to establish a hub-and-spoke production model in the Sudbury region.
Watch the full interview below with The Northern Miner’s western editor, Henry Lazenby.
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