Announcement Date: | 2023-02-22 |
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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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