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.