Latest MAGMATIC RESOURCES (ASX:MAG) News

Magmatic Resources has launched a new phase of exploration at its Weebo Gold Project in Western Australia, backed by promising high-grade gold assay results and fresh tenement applications.

Magmatic Resources and Fortescue have agreed on a $3.5 million exploration budget for FY25-26 at the Myall Project, focusing on extensive drilling to unlock copper-gold potential. Early results highlight promising mineralisation at the Calais prospect, setting the stage for accelerated exploration.

Magmatic Resources has secured the Weebo Gold Project in Western Australia and reported encouraging copper-gold drill results at its Myall Project, maintaining a robust cash position of $4.7 million.

Magmatic Resources has completed the first stage of acquiring the Weebo Gold Project in Western Australia, securing key exploration licenses and gearing up for immediate drilling programs.

Magmatic Resources has secured 100% ownership of the Weebo Gold Project in Western Australia’s prolific Yandal Greenstone Belt, positioning itself amid five major gold mines. The acquisition complements its NSW copper-gold portfolio and sets the stage for imminent drilling campaigns.

Magmatic Resources reports promising drilling results at the Calais prospect within its Myall Project JV with Fortescue, hinting at a significant new copper-gold porphyry discovery. Further drilling is planned to refine the geological model and explore the system’s potential.

Magmatic Resources has reported significant progress in its Myall Project joint venture with Fortescue, including promising copper-gold mineralisation at the Calais prospect and ongoing drilling across multiple targets. The company maintains a strong cash position as it advances exploration in NSW.

Magmatic Resources has launched an expanded diamond drilling campaign at its Myall Project while reporting promising soil sampling results from its Wellington North and Parkes projects. The quarter also saw significant leadership changes, positioning the company for its next growth phase.

Magmatic Resources has launched a 3,000m diamond drilling campaign at its Myall Project alongside encouraging soil sampling results at its Wellington North and Parkes projects, signaling advancing exploration momentum.