Magmatic Resources Ltd (ASX:MAG) is set to diamond drill the high-grade historic Bodangora Gold Field within its Wellington North Project, about three kilometres from Alkane Resources Limited (ASX:ALK)’s recent Boda gold-copper discovery.
The program of shallow diamond drilling of around 2,000 metres is designed to test priority high-grade mine extension targets and provide structural information for tracking mineralised lodes.
A diamond drilling rig will mobilise to site early next week targeting the extensions within the 230,000 ounces at 26 g/t historic goldfield.
High-resolution ground magnetic surveying is underway, which will aid tracking of the mineralised lodes away from the historic workings and define additional high-grade gold targets in the district.
In addition, an aircore drill rig is being sourced to commence drilling additional high-grade gold targets in the district, following harvest in early December.
Mitchells Creek historic mine
Very limited drill testing has occurred down dip/plunge from the historic Mitchells Creek mine workings.
Diamond drilling activity is designed to test interpreted down dip/plunge high-grade zones, potential lode repetitions and along strike extensions within the broader epithermal gold lode system.
Follow-up target definition work, conducted alongside the drilling, includes a high-resolution ground magnetic survey (underway), surface geochemical sampling and aircore drilling of priority target areas.
Dicks Reward historic mine
Very limited drill testing has occurred down dip/plunge from the historic Dicks Reward Mine workings.
Diamond drilling activity is also designed to test interpreted down dip/plunge zones, potential lode repetitions and along strike extensions within the broader epithermal system.
Follow-up target definition work alongside the drilling includes a high-resolution ground magnetic survey (underway), surface geochemical sampling and aircore drilling of priority targets.
Wellington North Gold-Copper Project
Magmatic’s Wellington North Project covers the northern extension of the Molong Volcanic Belt, north of Australia’s largest gold producer at Newcrest Mining Ltd’s Cadia East.
The Bodangora tenement includes the historic Bodangora Gold Field, where 230,000 ounces were produced between 1869-1917.
Magmatic’s three Wellington North tenements effectively surround the recent Boda gold-copper discovery by Alkane, with the Lady Ilse target around 8 kilometres and Bodangora Gold Field targets around 3 kilometres southwest.
The Wellington North target portfolio (Lady Ilse District, Rose Hill, Rose Hill North, Ninety, Rockleigh, Boda South, Mayhurst, Mayhurst East, Glenrowan) comprises both Boda-style gold-copper and Bodangora-style high-grade gold targets.