Magna Mining Continues to Intersect Copper and Precious Metal Bearing Veins in Multiple Drill Holes at Levack Mine's R2 Target in Sudbury, Including 25.0% Copper, 34.7 g/t Pt+Pd+Au, and 151 g/t Silver over 0.4 metres
Magna Mining's Sudbury Bet Hinges on Exploration as Operations Bleed Cash
On December 9, 2025, Magna Mining announced continued high-grade copper and precious metal intersections from its drilling at the R2 exploration target at the past-producing Levack Mine in Sudbury, Ontario. Key intercepts include: - 25.0% Copper (Cu), 34.7 g/t Platinum+Palladium+Gold (Pt+Pd+Au), and 151 g/t Silver (Ag) over 0.4 metres. - 18.6% Cu, 38.5 g/t Pt+Pd+Au, and 105.0 g/t Ag over 0.6 metres. - 12.3% Cu, 22.2 g/t Pt+Pd+Au, and 78.9 g/t Ag over 1.3 metres.
The drilling has extended the known vertical extent of the R2 mineralization to over 200 metres, and the zone remains open for expansion. Management noted that while the individual vein intersections are narrow, they believe the mineralization is part of a regionally significant system and that such veins can thicken quickly over short distances. Drilling continues with four active rigs.
This news is materially positive as it continues to confirm the presence of a high-grade mineralizing system at the Levack Mine's R2 target, a key future growth asset for the company. However, the impact is tempered by several critical factors when viewed in the context of historical news.
Magna Mining is a Canadian mining company focused on copper, nickel, and precious metals in the Sudbury Basin, Ontario. In February 2025, the company transformed from an exploration/development company into a producer by acquiring a large portfolio of assets from KGHM International, including the currently producing McCreedy West Mine and several past-producing mines.
While McCreedy West is the sole source of current revenue, the company's flagship asset is the Levack Mine. Levack is a past-producing mine for which Magna published a substantial initial Mineral Resource Estimate in November 2025. The company's intensive exploration program is focused on expanding this resource and advancing Levack towards a production restart, making it the primary long-term value driver.