Magna Mining Expands R2 Footwall Zone at Levack Mine

SUDBURY, Ontario, Sept. 17, 2026 /CourierPR/ -- Magna Mining Inc, a company based in the Sudbury Basin, Ontario, has announced significant progress at the Levack Mine. The firm has expanded the R2 Footwall Zone and intersected near-surface mineralization, including high-grade nickel, copper, and precious metals.

According to Dave King, the Senior Vice President of Exploration and Geoscience at Magna Mining, the recent drilling has yielded impressive results. Hole FNX2038A-W1, for instance, returned five distinct veins, including 9.5% copper, 2.6% nickel, 17.5 grams per tonne of platinum, palladium, and gold (23.5% copper equivalent) over 2.1 meters. This result has extended the R2 Footwall Zone towards the No.3 Orebody, which is situated approximately 75 meters up-dip.

King highlighted that the focus at the R2 Footwall Zone has shifted to drilling from new underground platforms on the 2950 level. The company is now using shorter drillholes and increasing the frequency of intersections. Additionally, the firm is excited about the thick, high-grade intersections from initial surface drilling at the West Main Zone, including 0.4% copper, 1.7% nickel, 0.4 grams per tonne of platinum, palladium, and gold (2.9% copper equivalent) over 32.9 meters in drillhole MLV-26-68, and 1.7% copper, 4.0% nickel, 3.5 grams per tonne of platinum, palladium, and gold (8.3% copper equivalent) over 4.6 meters in drillhole MLV-26-64.

The West Main Orebody, located near the surface, could provide significant nickel-copper-precious metals-rich mineralized material early in the production profile upon a positive restart decision. The company is particularly interested in the increased copper and precious metal grades in hole MLV-26-64, which could indicate the potential for shallow, footwall-style mineralization associated with this part of the Main Orebody.

Magna Mining has also been active in underground development and refurbishment of production hoisting infrastructure at Levack. In July and August, 597 feet of development were completed, advancing the 2950 Level drift and providing additional exploration drilling platforms. The company is preparing for a potential decision in early Q4 to advance development by an additional 300 meters to provide underground access to the R2 Footwall Zone.

The Levack Mine is part of Magna Mining's broader portfolio of projects in the Sudbury Basin. The company has been commended by the Government of Canada for its September 15, 2026, announcement of the Productivity Mega Deduction and proposed changes to the tax treatment of Canadian Development Expenses. These changes are expected to improve the after-tax economics of eligible development expenditures, strengthen project cash flows, and potentially accelerate the deployment of capital into mine development and related infrastructure.

Magna Mining is currently evaluating the potential impact of the Productivity Mega Deduction on the Levack Preliminary Economic Assessment and the Crean Hill Pre-Feasibility Study, with results expected in the first half of October.