Magnetic Resources Advances Lady Julie Gold Project Toward Shovel-Ready Status

Magnetic Resources NL ( (AU:MAU) ) has provided an announcement.

Magnetic Resources has reported multiple new thick gold intersections from aggressive deep drilling within the high-grade cores of its Lady Julie North 4 deposit, increasing confidence in the northern portion of the resource and extending mineralisation at depth. As a result, the combined resource for the Lady Julie Gold Project has grown to 39.1Mt at 1.78g/t for 2.24Moz of gold, with more than 80% now in the Indicated category, and LJN4 alone holding 34.61Mt at 1.83g/t for 2.03Moz, confirming it as one of Western Australia’s largest and highest-grade undeveloped open-pit gold deposits. With feasibility study work completed, key mining and miscellaneous licences granted in 2025, and the underground mine design being updated to incorporate new high-grade zones and optimise capital and ore recovery, the project is moving toward a “shovel ready” status. At the same time, the company is engaged in due diligence processes with potential mining partners and financiers, signalling growing external interest in funding and developing the Lady Julie Gold Project and potentially accelerating its transition from explorer to producer.

The most recent analyst rating on (AU:MAU) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Magnetic Resources NL stock, see the AU:MAU Stock Forecast page.

More about Magnetic Resources NL

Magnetic Resources NL is an Australian gold exploration and development company focused on the Laverton region of Western Australia, where it controls a 201.7km² tenement package including the Lady Julie Gold Project, Hawks Nest, Mt Jumbo and associated satellite prospects. The company is advancing one of the largest undeveloped open-pit gold deposits in the state, with its strategy centred on resource growth, mine development and positioning the Lady Julie project for near-term production.

Average Trading Volume: 300,324

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$431.4M

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