MGU has initiated the assessment of stockpiles at Buena Vista for potential milling feedstock

Magnum Mining & Exploration (ASX: MGU) has conducted surface sampling and volume assessment of its wholly owned Buena Vista iron mine site in Nevada, USA. The stockpiles present on the site, separate from the previously announced Indicated and Inferred Resources of 232 million tonnes at 18.6% Fe (JORC 2012) on March 23, 2021, are estimated to contain 411,000 to 894,000 tonnes ranging from 15% to 45% Fe.

It should be noted that the potential amount and quality of this Stockpile Estimate are theoretical and require further investigation to establish a Mineral Resource over the entire stockpile area. While surface sampling indicates an average grade of 26.7% Fe, a more accurate grade estimation necessitates drilling the stockpiles for comprehensive assessment, particularly considering their proximity to the proposed crusher.

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