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Magmatic Resources Ltd.
Summary
| Project: | Myall | |
|---|---|---|
| Deposit: | Myall | |
| Location: | Australia | |
| Commodities: | Gold-Copper | |
| Date: | 6/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-6-2018: Magmatic Resources Ltd. announces an Exploration/Drilling Update report for its Myall deposit at the Myall project. Drilling results incl. 4m @ 0.14g/t Au from 80m. Magmatic believe that due to a poorly preserved residual saprolite at Myall, th | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Steven Oxenburgh (Internal) | |
| ABSTRACT: | Magmatic believe that due to a poorly preserved residual saprolite at Myall, these anomalies are only partly tested and scope remains for a major discovery of 2 to 5 Moz Au, 2 to 5 Mt Cu deposits: i.e. Northparkes-sized targets. Magmatic Resources Limited (ASX: MAG) is pleased to announce an exploration update on its Myall Gold and Copper-Gold Project, located in the Company’s East Lachlan portfolio in New South Wales. This update includes: Managing Director David Richardson said: “Our latest drill results have confirmed the potential for a major copper – gold porphyry discovery at Myall. We are in one of the largest igneous complexes in the region, which is massively endowed and we are confident the porphyry system at Myall has only been partly tested and a new discovery can be made. “Our geologists have been working hard with the extensive legacy data and we are very excited with the progress we have made. Our plan is to advance these targets as quickly as possible and are looking at the optimal way to complete that task, including evaluating possible joint venture options and parties to assist with exploration funding.” | |
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