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Magmatic Resources Ltd.
Summary
| Project: | Wellington | |
|---|---|---|
| Deposit: | Bodangora | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-8-2018: Magmatic Resources Ltd. announces an Exploration/Drilling Update report for its Bodangora deposit at the Wellington project. Drilling results incl. 2m @ 5.26g/t Au from 14m. Magmatic Resources Limited (“Magmatic” or the “Company”) (ASX: MAG) is | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Steven Oxenburgh (Internal) | |
| ABSTRACT: | Magmatic Resources Limited (“Magmatic” or the “Company”) (ASX: MAG) is pleased to update the market with the results from its recently completed RC/ AC drilling program at Bodangora and Bodangora South. The results complement previous results and confirm high-grade mineralisation. Managing Director David Richardson said: “We are pleased with our strategy of focusing on advancing our nearsurface gold targets which continue to illustrate the potential of our projects in the East Lachlan region. This latest drill program at Wellington North has identified a new area of near surface mineralisation. The Company is very encouraged by these results and intends to follow up these results.” This initial RC/ AC drilling programme (12 holes,484 m) has been completed at Bodangora (Dicks Reward) and Bodangora South (Figure 1). Drilling at Dicks Reward (Figure 2 and Figure 3) was designed to test continuity and grade of the mineralisation identified in previous Cluff 1980s-era RAB and DD drilling (see later in this report). Work confirmed the location of the mineralised veins and confidence in the previous RAB and DD drilling results with significant results listed further in this report. Future work will including mapping and sampling of surface veins, and further targeted drilling. | |
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