Magmatic Resources Ltd. ( (AU:MAG) ) has shared an announcement.
Magmatic Resources Ltd. announced a potential new copper-gold discovery at its Myall FJVA Project, with promising drilling results at the Calais and Corvette sites. The discovery opens a second major exploration front, enhancing the project’s potential to deliver significant copper-gold porphyry deposits, similar to the nearby Northparkes mine. The ongoing drilling program, in collaboration with Fortescue, aims to further explore and expand these mineral-rich areas, potentially impacting the company’s industry positioning and offering new opportunities for stakeholders.
More about Magmatic Resources Ltd.
Magmatic Resources Ltd. operates in the mining industry, focusing on the exploration and development of copper-gold porphyry deposits. The company is engaged in a joint venture with Fortescue Metals Group on the Myall FJVA Project in New South Wales, targeting mineralisation similar to the Northparkes copper-gold mine.
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Current Market Cap: A$22.52M
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