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- Magmatic Resources (MAG) has received drilling results from three copper-gold targets at its wholly owned Wellington North Project, north of Cadia East in New South Wales
- Aircore drilling was completed at Lady Ilse, Rockleigh and Boda South targets, made up of 89 holes for 1046 metres
- Best results include 67 metres at 0.22g/t gold and 54 metres at 0.18g/t gold
- Magmatic says the returned results are considered encouraging, with follow-up drilling planned to better define follow up bedrock drill targets
- Company shares are trading flat at 18 cents
Magmatic Resources (MAG) has received drilling results from three copper-gold targets at its wholly owned Wellington North Project, north of Cadia East in New South Wales.
Aircore drilling was completed at Lady Ilse, Rockleigh and Boda South across 89 holes for 1046 metres.
Lady Ilse Target
Drilling of 47 holes at Lady Ilse, totalling 614 metres, was designed to define regolith anomalism and extensions to the system. Aircore drilling found wide zones of gold and porphyry pathfinder bedrock anomalisms, with best results including 67 metres at 0.22g/t gold and 54 metres at 0.18g/t gold.
Aircore results also upgraded and better defined the northern extension to the Lady Ilse system, with one metre at 0.1g/t gold and 722 parts per million copper at the end of a drilling traverse.
Four aircore holes defined a 200-metre-wide gold-in-regolith anomaly of greater than 0.1 g/t gold in the central zone at Lady Ilse, marking the widest and most continuous zone of regolith gold anomalism intersected to date.
Rockleigh Target
Results from the Rockleigh target showed encouraging indications of a large gold-copper porphyry system, characterised by an open gold-copper soil augur anomaly within Boda equivalent rocks. 25 aircore holes were drilled, totalling 248 metres. The program was designed to better define regolith anomalism and gold-copper bed rock potential.
Magmatic says the returned results are considered encouraging, with follow up aircore drilling planned to better define follow up bedrock drill targets.
Boda South Target
Drilling at Boda South did not follow the trend. The program was designed to provide gold and pathfinder vectoring data for follow up bed rock exploration activity, drilling 17 holes across 184 metres of drilling.
No significant gold-copper results were received across the single traverse, with exploration in the district now focussing in areas closer to the centre of the historical Bodangora Gold Mining District.
Magmatic Resources is now planning follow up aircore, reverse circulation and diamond drilling.
Company shares are trading flat at 18 cents at 11:30 am AEST.
