TSX-listed Magna Mining has reported that it expects ore sales from the 700 Copper Zone, at its McCreedy West mine, in Ontario, Canada, to be between 80 000 t and 92 000 t for each of the third and fourth quarters of this year.

The company says contained copper equivalent grade is expected to be between 2.9% to 3.4% in the third quarter of this year, and between 3.8% to 4.4% in the fourth quarter.

Cash costs per copper-equivalent pound are expected to be between $3.85 to $4.40 in the third quarter, reducing to $3.11 to $3.66 in the fourth quarter.

Additionally, all-in sustaining costs (AISC) per copper equivalent pound are expected to be between $4.95 and $5.49 in the third quarter.

CEO Jason Jessup says over the past four months, Magna has been executing a plan to unlock the potential of the McCreedy West mine.

He says the company has invested capital into underground equipment and additional development, hired additional people to support a 24/7 operation at the mine, noting that Magna is seeing the benefits of this plan materialise.

“The mine plan for this year is evolving from the plan we inherited with the purchase of McCreedy West, to a plan that is designed, owned and executed by Magna. In the fourth quarter and beyond, we expect to be developing into mining areas that have better grades, while building flexibility and upside into the plan.”

Jessup adds that the company expects AISC to decrease in 2026, as the company concludes its accelerated capital development programme, and to achieve its optimisation goals.

“I am proud of our team at the mine and the dedicated executive management team that are helping to build McCreedy West into what we believe will be a long-life, cash flow generating copper, nickel and platinum group element (PGE) mine.”

The company says it plans to make important investments at the McCreedy West mine during the second half of this year, including upgrading the mobile equipment fleet.

In June, a contract mining company was mobilised to site to increase the amount of capital development at McCreedy West for the remainder of the year. Forecasted daily development rates are expected to increase to 28 feet a day in the second half of this year.

Magna says the contract mining company is not currently planned to be retained for capital development in 2026, at which point sustaining capital costs are expected to decrease.

The total underground development planned for the second half of this year, including operating and capital development, is about 5 100 feet.

Planned capital development is designed to access the western side of the 700 Copper Zone on multiple levels through ramp.

Planned operating development is expected to provide the mine with increased stope development inventory, which is expected to add consistency and flexibility to stope sequencing and other production activities.

COO Jeff Huffman notes that the planned capital development on the western side of the 700 Copper Zone should allow Magna to exploit the existing known resources, as well as facilitate access to areas from which it can launch an exploration programme in previously untested western areas of the 700 Copper Zone.

As the capital development is now reaching the western extent on the 930 Level, Huffman says the first underground diamond drill will be mobilised in this area in coming weeks.

“The planned operating development will provide McCreedy West with increased production optionality and flexibility and is expected to support a more robust operating plan moving forward into 2026.”