The current agreement with Glencore is for the 109 FW zone surface bulk sample only. The March 2024 agreement with Vale Canada did not include the 109 FW zone.
Magna intends to ship approximately 20,000 tonnes of ore from the near surface portion of the 109 FW zone. The material will be processed separately through the Strathcona mill and produce a bulk concentrate. The results will provide recovery information on base and precious metals, allowing Magna to better plan underground advanced exploration and future commercial production.
Recently, a series of short diamond drill holes were completed in the area of the surface bulk sample, and in May, Magna reported assay results from the first eight holes of this program. The results included hole MCB-24-029 which intersected 2.9% copper, 0.9% nickel and 9.5 g/t platinum-palladium-gold over 6.3 metres starting at surface.
This drilling will be incorporated into the surface bulk…
