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The latest update is out from Magmatic Resources Ltd. ( (AU:MAG) ).
Magmatic Resources has completed its FY2026 exploration programs at the Myall Farm-in and Joint Venture Copper-Gold Project, funded by Fortescue’s subsidiary FMG Resources, with 16 diamond drill holes and multiple aircore campaigns testing Northparkes-style porphyry targets across several prospects near the Corvette-Kingswood resource. Early diamond drilling results at the Interceptor Prospect show anomalous copper and gold within a broad altered diorite zone extending the Corvette-Kingswood mineralising system to the south, while Barina returned a 4 m intercept grading 0.5 g/t gold and initial aircore work at the FJ Prospect intersected shallow anomalous copper, with further assays from 13 remaining diamond holes and a March 2026 aircore program due later this quarter alongside planned follow-up drilling at the company’s Weebo Gold Project.
A trial induced polarisation survey over 4.3 line-kilometres was also completed to test its effectiveness in mapping sulphides beneath cover at Corvette-Kingswood, potentially improving future targeting. In Western Australia, Magmatic is preparing to commence new aircore and reverse circulation drilling at Weebo in May 2026 over a growing pipeline of gold targets including Ockerburry Trend, Scone Stone, Otto 2, Wheel of Fortune, Sholl’s Find and West Gold, signalling an active exploration schedule across its portfolio.
More about Magmatic Resources Ltd.
Magmatic Resources Ltd is an Australian mineral exploration company focused on copper-gold and gold projects, with key assets including the Myall Copper-Gold Project in New South Wales and the Weebo Gold Project in Western Australia. The company targets porphyry-style copper-gold systems and emerging gold trends, often partnering with larger miners such as Fortescue to fund exploration programs.
Average Trading Volume: 548,580
Technical Sentiment Signal: Sell
Current Market Cap: A$14.06M
See more data about MAG stock on TipRanks’ Stock Analysis page.