MAGNA MINING NL - ASX: MAN

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Description

Magna Mining NL is a Western Australian based exploration company with significant projects located in Namibia and Western Australia. The Company is actively exploring for industrial minerals, precious metals, base and rare metals, precious and semi-precious stones. It will continue to identify exploration targets both nationally and internationally. Magna aims to become a significant minerals producer.

Base Metals - Erongo, Namibia

Magna became active in Namibia in mid 1999 and acquired 7 Exclusive Prospecting Licences (EPL) in the Erongo region. Magna has recently had four of these EPLs extended to June 2009. The Erongo region was targeted due to the presence of wide spread mineralisation, the vast scale of geological structures, and the close proximity to world class mines such as the world's largest hard rock tin mine (Uis) and the huge Navachab Gold Mine. Also located along the same geological corridor is the famous Tsumeb Copper Mine.

Geological evaluations have identified four (4) different styles of gold mineralisation along strike from, and on parallel structures to, the Navachab gold resource located adjacent to the tenements. These gold occurrences will be the target of further exploration along with associated copper in many cases.

Also within Magna's Erongo project area is known tantalite mineralisation that extends over a 50 kilometre length of the Sanamap-Erongo pegmatite belt. Exploration and evaluation of the known tantalite deposits is currently on hold while the Company focuses it's efforts on the gold and copper potential of the region.

The following table summarises known mineralised prospects in the Erongo project:

Graphite - 13,750,000 tonne resource grading 4.52% C as graphite
Rare Earths - A 400 metre long mineralised zone of up to 20 metres width containing up to 24.5% monazite (Lanthanum, cerium, neodymium oxide)
Tungsten - The old Krantzberg Tungsten Mine which produced 1,000,000 tonnes of high grade tungsten ore. Unmined extensions of the ore and new zones of mineralisation are objectives of future exploration.
Gold - Shears, veins, and gossans possibly contain gold, and these will be evaluated in upcoming field work.
Tin/Tantalite - Rare metal pegmatites containing up to 4,200 g/t Ta2O5
Semi-precious Gemstones - All shades of Tourmaline, Aquamarine, Demantoid garnet, and Topaz can all be found within the Erongo project area.

Badja Uranium Project - Yalgoo, Western Australia

The Badja Uranium Project, which is located 600kms north of Perth near Yalgoo, covers a 30km long by up to 2km wide palaeochannel, located within granitic terrain. The channel is characterised by extensive calcrete occurrences that correlate with the elevated uranium responses interpreted by Southern Geoscience from the airborne radiometric survey sourced from Geoscience Australia (Survey P1060). This uranium anomaly was modelled on the Yeelirrie Style of calcrete hosted uranium mineralisation.

Previous exploration by Magna located four coincident airborne radiometric and MMI geochemical anomalies within the Badja drainage-salt lake system. During the September 2007 quarter an 18 hole drilling program was completed with a total of 584m of vertical aircore being drilled to an average depth of 32m, ranging from 5 to 65m in depth.

Previous exploration by Magna identified coincident MMI and Spectrometer uranium anomalies for four target areas. Air core samples were taken at one metre intervals for logging and sampling purposes with the majority of the samples consisting of moist to wet clays.

ALS Laboratories reported <0.001% uranium (i.e. <10ppm Uranium) for all Badja drill samples. Spectrometer readings also supported an XRF analysis as being consistently low i.e. <15.8 eUppm.

Consequently, the prospectivity of this project has been downgraded.

Mine For

uranium, graphite, rare earths, tungsten, gold, tin, tantalite, gemstones

Location of operation(s)

Namibia, Western Australia

Address

Level 1 , 47 Ord Street
WEST PERTH, WA, AUSTRALIA

Phone

(08) 9322 7822

Email

Website

http://www.magnamining.com.au/

Last Updated

7/3/2011