Posted in | News | Copper | Nickel | Platinum | Palladium

Magma Metals to Complete Scoping Study on Thunder Bay North Project in March Quarter 2011

Dec 10 2010

Magma Metals Limited (TSX:MMW)(ASX:MMW) advises that completion of the Scoping Study (Preliminary Economic Assessment) on its Thunder Bay North platinum – palladium – copper – nickel project in Ontario, has been re-scheduled for the March quarter 2011.

AMEC Americas Limited ("AMEC") is undertaking the independent Scoping Study for the Thunder Bay North project, based on their recently completed Mineral Resource Estimate (see Magma announcement of September 6, 2010). The Scoping Study was originally scheduled for completion in the December quarter, 2010. AMEC has advised that it is unable to complete the study until next quarter.

"While much work has been completed on the study to date, this extension of time will allow AMEC to complete their work in an orderly and comprehensive manner" said Keith Watkins, Magma's Executive Chairman. "Although we are disappointed in this delay, we are looking forward to launching our winter drilling program next month to test several promising targets beyond the resource area that AMEC has been studying."

Source:

Magma Metals Ltd.

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