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Magmatic Resources Ltd. ( (AU:MAG) ) just unveiled an update.
Magmatic Resources Ltd. has commenced Phase 2 of its drilling program at the Weebo Gold Project in Western Australia. This phase includes 3,500 meters of Reverse Circulation (RC) drilling at advanced targets Scone Stone and Ockerburry, and approximately 5,000 meters of air-core drilling at Ockerburry, Scholl’s Find, and Sir Samuel prospects. The company aims to define mineralized areas suitable for resource estimation and has appointed a full-time project manager to oversee the operations, enhancing its exploration focus.
More about Magmatic Resources Ltd.
Magmatic Resources Ltd. operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in gold exploration, with a significant focus on projects in the Eastern Goldfields region of Western Australia.
Average Trading Volume: 716,093
Technical Sentiment Signal: Buy
Current Market Cap: A$31.64M
For a thorough assessment of MAG stock, go to TipRanks’ Stock Analysis page.