Magmatic Resources provides exploration update

Published by Jessica Casey, Editor
Global Mining Review, Friday, 20 August 2021 11:00

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/