Company
Magmatic Resources Ltd
ASX:MAG
Magmatic Resources Ltd (ASX:MAG) is a gold-copper exploration company, focussed on the East Lachlan region in New South Wales. The province is home to Australia's largest gold mine.
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Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news.
Magmatic Resources raising up to $4 million to expand and accelerate high-impact exploration at Myall
Firm commitments have been received to raise $3 million in an oversubscribed placement while existing eligible shareholders will have the opportunity to participate in an SPP to raise up to $1 million.
Magmatic Resources surges on delivering best copper-gold-molybdenum interval to date at Corvette
The latest assay results highlight the immense potential of the Corvette Prospect and the greater Myall project area to deliver a large copper-gold porphyry system.
Magmatic Resources unearths 722.5-metre copper intersection in first full hole at Myall's Corvette Prospect
“With over 700 metres of porphyry-associated copper-gold-molybdenum mineralisation now confirmed from the first hole, these results simultaneously comprise the highest-grade interval, the broadest interval and now deepest mineralised interv
Magmatic Resources returns best-yet assays from Myall; diamond drilling extended
“To be able to announce such outstanding results in our first completed hole of the program is simply remarkable, and it has already gone a long way in demonstrating the size and grade potential of the system," said managing director Dr Ada
Magmatic Resources hits strong visible copper sulphide mineralisation at Myall project
"We are so far past our original target now that we are effectively exploring a brand-new search space to the east of the original Corvette Prospect – currently untested in every direction – and still going," MD Adam McKinnon said.
Magmatic Resources encounters encouraging visible copper during first drilling at the Corvette prospect
“While we have to wait for the return of the assays to fully understand the significance of the initial Myall drilling results, hitting visually encouraging sulphide mineralisation in the very first metre of diamond core is exceptionally ex
Magmatic Resources kicks off diamond drilling at Myall in copper-gold mining area
Drilling will target up to four high-priority target areas in the greater Kingswood prospect area, which is already known to host porphyry-associated mineralisation.
Magmatic Resources hits 12.9 g/t gold at Bodangora’s historic Dicks Reward; shares up 23.33%
The company said the 1.7-metre intersection is encouraging as it indicates that shallow, high-grade mineralisation remains open to the northwest of the Dicks Reward historical workings.
Magmatic Resources forges ahead with Wellington North exploration, adjacent to 10.1-million-ounce gold equivalent Boda discovery
Quartz veining and alteration were identified in all five holes, pointing to gold, and assays are expected to confirm this by July.
Magmatic Resources identifies large gold zone at Wellington North Project
A ground magnetic survey completed over the broader Bodangora region confirmed a strong linear structure coincident with the identified aircore gold zone.
Magmatic Resources' new managing director starts today, bringing “extensive record of discovery”
McKinnon’s previous work at Aurelia Metals saw him selected as a finalist in the AMEC Prospector Award in 2020 and he again represented Aurelia as a finalist in the NSW Explorer of the Year Awards last year.
Magmatic Resources advances exploration campaign over East Lachlan’s Wellington North project
Altogether, the gold and copper explorer drilled eight holes, covering just under 2,000 metres, below the project’s Mitchell Creek underground gold mine, situated within the wider, 230,000-ounce historical Bodangora Goldfield.
Magmatic Resources signals board changes and aggressive exploration activities
Adam McKinnon led the rapid expansion of Aurelia’s exploration programs and the discovery of the high-grade Federation zinc-lead-gold-copper-silver deposit, a proposed underground mine development.
Magmatic Resources to diamond drill high-grade historic Bodangora Gold Field, near Alkane's Boda gold-copper discovery
A program of shallow diamond drilling of around 2,000 metres is designed to test priority high-grade mine extension targets, whilst providing structural information for tracking mineralised lodes.
Magmatic Resources very well-funded as it advances its gold-copper targets in FY22
The company can now focus its activities on its three 100%-owned advanced gold/copper projects in the East Lachlan - the Myall, Wellington North and Parkes projects.
Magmatic Resources advances gold-copper portfolio in central New South Wales
East Lachlan is a world-class gold-copper province that hosts two of Australia’s largest gold-copper mines Magmatic is undertaking high impact drilling in Boda District north of Australia's largest gold producer - Cadia East Mine
Magmatic Resources confirms exploration opportunity at historic 230,000-ounce Bodangora Gold Field
3D evaluation and compilation of previous exploration data at the historic gold field in Central West NSW have defined compelling potential for the discovery of new high-grade gold deposits.
Magmatic Resources starts drilling at East Lachlan province copper-gold porphyry target
The company is a NSW focused gold and copper explorer and the current diamond drill hole at Kingswood is designed to test the Northparkes porphyry lookalike target.
Magmatic Resources to drill priority gold-copper porphyry target zone at Lady Ilse
Recent ground magnetic surveys have produced high-resolution imagery aiding interpretation of the Lady Ilse district and have identified porphyry target zones.
Magmatic Resources subsidiary to spin-off and list on ASX after acquiring gold/ polymetallic projects
Magmatic has proposed to demerge its Moorefield Gold Project in the central Lachlan Fold Belt into its wholly-owned subsidiary.
Magmatic Resources advances Lady Ilse prospect towards drill readiness at Wellington North Project in NSW
The Wellington North project covers the northern extension of the Molong Volcanic Belt, which hosts Newcrest’s world-class Cadia Valley porphyry gold-copper deposit.
Element 25 amends agreement with Magmatic Resources for Mt Venn acquisition
The Mt Venn project covers 60% of the Mt Venn Igneous Complex and is along strike from the recent discovery of the same name by Great Boulder Resources.
Magmatic Resources confirms high-grade gold at Wellington North project in NSW
The company is exploring for gold in areas along the East Lachlan Fold Belt.
Magmatic Resources reveals high-grade copper in Australia’s premier porphyry address
Magmatic has four advanced projects in the East Lachlan.
Montezuma Mining does deal with Magmatic Resources for Mt Venn
The company will receive cash and shares upfront plus potential milestone payments.
Magmatic Resources Ltd shares rise on high-grade gold hits
The first pass drill results confirm the historical gold rock chips.