Shakespeare deposit is surrounded by an under-explored land package of over 180 km². Multiple exploration targets have been identified through existing VTEM surveys, which have the potential to be high grade, massive sulphide discoveries.
Shakespeare has strong leverage to nickel and copper prices, plus exposure to Pd, Pt, Au and Co.
Major permits are already in place for the construction of a 4,500 tpd open pit mining operation, processing plant and tailings storage facility.
The management team and advisory board of Magna mining have extensive experience in base metal exploration and mining operations in the Sudbury region through working for Inco, Vale and FNX.
The Shakespeare mine declared commercial production in May 2010, and toll milling of ore continued until February 2012. In total, over 490,000 T of ore was processed through a third-party mill at an average grade of 0.33% Ni, 0.38% Cu and 0.9 g/t PGM + Au