Announcement Date: 2023-02-22
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Magmatic Resources Ltd.
Project name: Myall
Location: Australia
Commodities: Gold,Silver,Copper,Molybdenum
Highlight: Drilling results incl. 698.2m at 0.24% Cu, 0.05g/t Au, 5ppm Mo, 0.6g/t Ag, from 146.8m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Magmatic Resources Limited (‘ASX:MAG’ or ‘the Company’) is pleased to provide an update on the ongoing exploration program at its 100% owned Myall Project, located approximately 60 kilometres north along strike of the Northparkes Mine (owned by China Molybdenum/Sumitomo). The world-class Northparkes porphyry copper-gold deposits have a current combined Resource and Reserve base of 607Mt at 0.55% Cu & 0.21g/t Au2 and Magmatic Resources is targeting similar Northparkes-style mineralisation and grades. The Company has now drilled ten diamond holes totaling nearly 8,000 metres, with multiple +400 metres copper-gold intersections returned during the high impact program
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