Announcement Date: 2022-10-10
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Magmatic Resources Ltd.
Project name: Myall
Location: Australia
Commodities: Gold,Copper,Molybdenum
Highlight: Drilling results incl. 722.5m at 0.25% Cu, 0.05g/t Au, 14ppm Mo from 134.5m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Magmatic Resources Limited (ASX:MAG) (the Company) is pleased to provide an update on the progress of the ongoing drilling program at its 100% owned Myall Project, located 25 kilometres southwest of the central New South Wales town of Narromine and approximately 60 kilometres north along strike of the world-class Northparkes Cu-Au Mine (owned by China Molybdenum/Sumitomo). The high impact diamond drilling program has been under way since late July (ASX MAG 28 July 2022) and has seen immediate strong results at the Corvette Prospect (ASX MAG 23 August 2022 & 13 September 2022). Final assay for first full hole at Corvette highlight the scale of the copper-gold system In the Company’s previous update to the ASX, Magmatic Resources reported very strong results from the first full hole of the 2022 Myall drilling program, with 22MYDD415 returning 511.5 metres at 0.29% Cu, 0.06g/t Au & ppm Mo from the base of the cover sequence at 134.5 metres down hole (ASX MAG 13 September 2022). At the time, assay results had only been received to a down hole depth of 650 metres, with variable weak to moderate visual sulphide mineralisation noted to 852 metres down hole (ASX MAG 13 September 2022).
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