Magmatic Resources Ltd (ASX:MAG) continues a raft of exploration activities at the Wellington North Project, encouraged by its proximity to Alkane’s recent 10.1-million-ounce gold equivalent Boda discovery, and at the Myall Project, north of the Northparkes copper-gold mining district.
At Wellington North, the company recently began intensive exploration at the Bodangora Goldfield, which produced an estimated 230,000 ounces of gold between 1869 and 1917.
Gold production from the Bodangora region came from multiple workings including the Mitchell’s Creek Mine in the east and the Dick’s Reward Mine in the west.
Diamond drilling targets extensions
Magmatic has drilled five diamond holes across 714 metres at the Dick’s Reward historical mine, targeting extensions along strike to the southeast and northwest.
The holes were drilled to between 100 and 175 metres depth, with a number of the holes designed to test the potential for gold mineralisation in the footwall and hanging wall of the deposit.
Zones of interest have now been logged, cut and submitted for assay for each hole. Quartz veining and alteration were identified in all five holes and assays are expected to confirm this by July.
Coincident elevated gold, copper and lead
Aircore drilling results are in, as are an additional 160 infill soil samples covering the Bodangora region. These confirm and expand the 1000-metre by 250-metre northeast-southwest trending anomaly between and to the south of historical Mitchell’s Creek and Dick’s Reward workings, with coincident zones of elevated gold, copper and lead.
The company is also planning an ongoing high-impact drilling campaign at the Myall Project, targeting a Northparkes-style porphyry-associated copper-gold discovery.
Revised permitting has been submitted for the construction of formed, all-weather drill pads and the program is scheduled to start in late June, subject to weather conditions and approvals.
Wet weather a dampener
Back in March, the company reported the results from an eight-hole diamond program at the Mitchells Creek Mine including 0.57 metres at 14.3 g/t gold, 22 g/t silver and 1.1% copper.
Additional holes, planned for deeper in the central portion of the deposit, were not able to be drilled due to the exceptionally wet conditions in the region. The company will look to explore in these areas if conditions improve following planned drilling at its Myall Project.