Magmatic Resources provides exploration update
Published by Jessica Casey,
Deputy Editor
Global Mining Review,
Magmatic Resources (MAG) has provided an update on exploration activity at its 100% owned Wellington North Project, located north of Australia’s largest gold producer at Cadia East and effectively surrounding Alkane’s recent Boda gold-copper discovery.
Highlights
- 3D evaluation and compilation of previous exploration data at historic Bodangora Gold Field has defined compelling potential for discovery of new high grade gold deposits.
- High grade gold mining occurred at the Bodangora Gold Field with recorded production of 230 000 oz at 26 g/t gold (Au) between 1869 – 1917.
- The Mitchell’s Creek Gold Mine (190 000 oz production) which extended over 1 km strike length and was mined to only 300 m depth, remains open in multiple directions and offers down dip and down plunge drill targets.
- The Dick’s Reward Gold Mine (40 000 oz production) was mined to only 150 m depth, remains open in multiple directions and offers down dip and down plunge drill targets.
- Dicks Reward drill targets enhanced by newly reported underground channel sampling of remaining (unmined) material indicating high gold grades including:
- 0.63 m at 31.3 g/t Au (Dicks Reward).
- 0.50m at 52.8 g/t Au (Dicks Reward).
- 0.50 m at 44.4 g/t Au (Dicks Reward).
- 0.35 m at 67.8 g/t Au (Dicks Reward).
- Drill programme being planned to test for extensions to the main zones of previous mining.
- Recent drilling results from Lady Ilse target due in late August 2021.
Read the article online at: https://www.globalminingreview.com/exploration-development/20082021/magmatic-resources-provides-exploration-update/
You might also like
Caterpillar to exhibit at AusIMM Underground Operators Conference
Caterpillar is set to participate in the AusIMM Underground Operators Conference at the Brisbane Convention and Exhibition Centre in Brisbane, Australia, on 27 – 29 March 2023.