All tagged Magmatic Resources ASX:MAG
Nervous investors have been reluctant to support the junior end of the mining and exploration sector. But that has not deterred a raft of players from continuing to add value to their projects - and position themselves for the inevitable uptick in investor sentiment.
Magmatic Resources (ASX: MAG) has completed its acquisition of Landslide Investments, making it the official sole owner of its Yamarna gold project. Landslide held ownership of a large exploration licence at the Yamarna project; that has now been acquired by Magmatic through the deal. The exploration licence covers an area of 61 square kilometres, where Magmatic has interpreted a transacting shear zone from previous exploration and modelling. A Field campaign is now set to commence at Yamarna.
Magmatic Resources (ASX: MAG) has updated the market on results from its recently completed RC and AC drilling program at Bodangora and Bodangora South. Today's results complement previous results and confirm high-grade mineralisation, while identifying a new area of near-surface mineralisation. Future work will include mapping and sampling of surface veins, and further targeted drilling.
It's been a busy three months for Magmatic Resources (ASX: MAG), with two acquisitions in Western Australia and vast amounts of exploration work undertaken at the company's portfolio of assets in New South Wales during the June quarter. During the three months to June 30, Magmatic acquired the Mt Venn copper-nickel-cobalt project and the Yamarna gold project, while also progressing exploration initiatives at its Wellington North gold and copper-gold project, is Parkes and Myall copper-gold projects, and its Moorefield gold and base metals project in NSW.
Magmatic Resources (ASX: MAG) has updated shareholders on activities for the 2018 financial year through an announcement to the market. Activities included a listing on the ASX, following the purchase of four large gold and copper exploration projects in NSW from South African miner Gold Fields, and acquiring two new projects in the Yamarna/Laverton region of WA in both the technology and gold metals spaces. Magmatic's exploration team was also strengthened during the period.
Magmatic Resources (ASX: MAG) has released an exploration update on its Myall Gold and Copper-Gold Project, part of its East Lachlan portfolio in New South Wales. The update includes a target review which identified four untested high-order geological-geochemical targets within previously identified porphyry copper-gold systems, and results from an aircore and watercore with diamond tail drilling program.
Magmatic Resources (ASX: MAG) has provided an update on its Wellington North gold and copper-gold project, which included rock chip sampling at Morley and Rockleigh, geophysical modelling at Lady Ilse and Bodangora drill planning. Magmatic has taken 17 rock chip samples at the Morley prospect. Sampling at Morley was confirming previous explorers’ rock chip samples which were recently recovered by Magmatic. These rock chips had returned up to 5.8% Cu, 0.6g/t Au and 6,300g/t Ag.
Magmatic Resources (ASX: MAG) has told the market that respected independent consulting firm UTS Geophysics has completed two close-spaced aeromagnetic surveys for 6,200 line-km in total across the Parkes copper-gold and gold joint venture project and the Moorefield gold and base metals project, both in NSW. Data has been received for both projects and preliminary interpretation of Parkes East has been completed, while interpretation of the Moorefield survey results is still on-going. These results will be released at a later date.
Magmatic Resources (ASX: MAG) has released to the market its RIU Sydney conference presentation. Magmatic presented at the conference this morning, highlighting its four advanced projects in the East Lachlan Fold Belt, which were acquired from Gold Fields. Magmatic also provided insights to its strategic tenement holding in Western Australia's emerging Yamarna Belt.
Magmatic Resources (ASX: MAG) has completed its acquisition of the Mt Venn copper-nickel-cobalt project near Laverton from Montezuma, providing the company with 60 per cent coverage of the Mt Venn Igneous Complex in a proven mineralised district. Magmatic has subsequently acquired and applied for two gold exploration licences, constituting the Yamarna gold project, located just north-east of Mt Venn.