Morning Briefing: Magna Mining Publishes their Maiden Mineral Reserves for McCreedy West
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It’s Wednesday, February 18th.
Metals traded lower yesterday as they continue to work into consolidation. Gold was down over 2% while silver saw a five and a half percent decline. Both metals are in the green this morning in the early hours. The iShares Silver Trust ETF appears to be hanging on for dear life, just below its 50 day moving average as it works off the huge speculative move it saw at the end of January when the silver trade took front stage. The gold miners per the GDX and GDXJ appear to be a bit more constructive as they are attempting to put in a higher low and regain a positive trend.
We will get to the news out of the miners and explorers in a minute, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Equinox Gold.
Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com
And here’s what you need to know this morning…..
Magna Mining published their initial mineral reserves for the McCreedy West Mine, located in the North Range of the Sudbury Basin, Ontario, Canada. The mine now has Probable Mineral Reserves of 987,000 tonnes at 1.59% Cu, 0.32% Ni, 0.01% Co, 1.15 g/t Pt, 1.23 g/t Pd, 0.32 g/t Au, 6.65 g/t Ag. Indicated resources now sit at 5,632,000 tonnes at 1.10% Cu, 0.98% Ni, 0.03% Co, 0.82 g/t Pt, 0.92 g/t Pd, 0.23 g/t Au, 5.15 g/t Ag. There is an additional inferred resource as well. Based on the Mineral Reserve Estimate, the 700/PM Copper-PGE Zones at McCreedy West demonstrate an initial three-year production profile, assuming forecasted mining rates which are in line with the current operation and 2026 guidance. The company also published new drill results from the Levack Mine, which targeted the R2 footwal zonel at the project. Highlights there were .7m of 20.3% Cu, 0.1% Ni, 10.3 g/t Pt+Pd+Au, 151.0 g/t Ag and 1m of 24.4% Cu, 0.9% Ni, 5.4 g/t Pt+Pd+Au, 173.0 g/t Ag. (TSXV: NICU) (OTCQX: MGMNF) News Release
Great Pacific gold has announced results from drilling at the Sinivit target within the Wild Dog Project in Papua New Guinea. Diamond drilling at the Sinivit epithermal gold-copper target has been ongoing since May 2025, with recent drilling focused on testing the down-plunge extension of the Northern Sulphide high-grade shoot. Today’s results were highlighted with 13.5m of 8.08 g/t AuEq, 8.4m of 50.12 g/t AuEq and 9.5m of 13.72 g/t AuEq. A second drill rig is being mobilized to start drilling the Kasi Ridge target imminently. (TSXV: GPAC) (OTCQX: GPGCF) News Release
Cartier Resources announced its eighth batch of results from the current drilling program. Today’s results come from the Nordeau Sector of the Cadillac Project located in Val-d’Or. Results included 23.2 g/t Au over 1m, 11.9 g/t Au over 1m and 7.3 g/t Au over 1m. The results specifically come from the East Nordeau Zone, which is located 800m south of the Contact Sector and new new emergent North Contact Zone. The mineralization extends over a minimum of 400 m in strike length and remains open at depth. Additional exploration drilling is required to test several new high-priority regional targets along strike of the Nordeau Sector and the Cadillac Fault Zone. (TSXV: ECR) News Release
Hemlo Mining has discovered new mineralization at the Cedar Creek Zone. During the 2025 drilling program, several drill holes intersected an unexpected volcano-sedimentary unit beneath the Footwall within the Cedar Creek meta-sedimentary sequence. Drilling there returned 2.9 g/t Au over .7m and 18.2 g/t Au over 1m. At this stage, the orientation, true width, and continuity of this new mineralized unit remain unknown. Drill results from the B-Zone have returned 14.5 g/t Au over 3.6m and 16.1 g/t Au over 3.3m. Mineral resource conversion drilling at the B-Zone has increased geological confidence and is expected to support a potential increase in Indicated mineral resources located approximately 100 metres below current mining areas. (TSXV: HMMC) News Release
Onyx Gold shared new drill results from the Munro-Croesus Project near Timmins, Ontario. Highlights from the Argus Main area returned 59.7m of 1 g/t Au, 73.1m of .8 g/t Au and 47m of .8 g/t Au. This is the first time gold has been identified within fine-grained metasediments of the Porcupine Group, further expanding the footprint of mineralization. The Company has completed 110 drill holes to date, totalling >40,000 m as part of its 75,000 m Phase I/II/III drill program. Assays have now been announced for 67 holes. (TSXV: ONYX) (OTCQX: ONXGF) News Release
Li-FT Power has closed its acquisition for the 50% interest in the Galinée property from Azimut Exploration. LIFT has acquired all of Azimut’s rights, title and interest in the Galinée Property, in consideration for the issuance of 2,000,000 common shares of the capital of the Company and the grant of a 1.4% net smelter return royalty. LIFT and SOQUEM will be responsible for the NSR in proportion to their percentage ownership of the Galinée Property. (TSXV: LIFT) (OTCQX: LIFFF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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