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Magnetic Resources NL ( (AU:MAU) ) has shared an update.
Magnetic Resources NL reported further promising drilling results from the Lady Julie North 4 gold deposit, where four high-grade core zones have been defined along a 750-metre strike. New diamond holes returned thick, high-grade intersections in the HGC1, HGC3 and HGC4 zones, with mineralisation in the northern cores remaining open at depth, supporting the potential for resource growth.
Recent holes, including infill and step-out drilling, intersected strong grades well below the current open-pit design and outside the existing resource estimate for the Laverton Project. These results, combined with a recently upgraded 2.24-million-ounce gold resource, enhance the project’s growth outlook and come as the board reiterates its unanimous support for the proposed Genesis Scheme, signalling a potentially value-shaping transaction for shareholders.
The most recent analyst rating on (AU:MAU) stock is a Buy with a A$4.00 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 its Laverton Project in Western Australia. The flagship Lady Julie North 4 deposit, part of this project, hosts a 2.03-million-ounce gold resource within a broader 2.24-million-ounce inventory, positioning the company as an emerging player in the regional gold sector.
Average Trading Volume: 867,143
Technical Sentiment Signal: Buy
Current Market Cap: A$567.3M
For detailed information about MAU stock, go to TipRanks’ Stock Analysis page.