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Magnetic Resources - Managing Director, George Sakalidis
Managing Director, George Sakalidis
Source: Magnetic Resources
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  • Magnetic Resources (MAU) has returned thick and high-grade intersections from surface at the Lady Julie gold asset in WA
  • MAU says its best and most consistent shallow intersections from surface at Lady Julie North include 25 metres at 4.4 grams per tonne (g/t) from 0 metres, including 7 metres at 13.7g/t from 17 metres
  • Additionally, the anomalous gold zones are still open to the southeast and down-dip, where they are thickening
  • The company aims to test and extend all ten targets, with the hope of ultimately converting to an indicated resource.
  • Magnetic Resources was up 3.13 per cent, trading at $1.65 each

Magnetic Resources (MAU) has returned thick and high-grade intersections at the Lady Julie gold asset in WA.

The company found the zones starting from surface following its recent infill and extension drill program.

MAU said its best and most consistent shallow intersections from surface to date at Lady Julie North include 25 metres at 4.4 grams per tonne (g/t) from 0 metres, including 7 metres at 13.7g/t from 17 metres.

Other notable intersections include 64 metres at 2.37g/t from 88 metres, including 36 metres at 4g/t from 116 metres and 4 metres at 26.22g/t from 148 metres.

The anomalous gold zones are still open to the southeast and down-dip, where they are thickening, returning an intersection of 36 metres at 4g/t from 116 metres.

The company said it intends to follow this up with 47 reverse circulation holes from 5,154 metres within the two-kilometre Lady Julie North 1 target zone.

Drilling will average 110 metres per hole depth and include 79 aircore holes for 4,560 metres.  

The reverse circulation and aircore drill rigs are already on one site, ready to follow up the assays.

MAU explained that it’s aiming to test and extend all ten targets, with the hope of ultimately converting to an indicated resource.

Additionally, infill reverse circulation holes are also now being planned to follow up the high-grade intersections.

Magnetic Resources was up 3.13 per cent, trading at $1.65 at 12:15 pm AEDT.

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