An announcement from Magmatic Resources Ltd. ( (AU:MAG) ) is now available.
Magmatic Resources Ltd. has recommenced its diamond drilling program at the Myall Project in New South Wales, in collaboration with Fortescue Metals Group. The drilling aims to further explore the Calais target, which showed promising copper-gold mineralization in previous drilling. This phase includes five diamond holes, with one specifically designed to follow up on the mineralization found in the initial hole. The project is strategically positioned near the Northparkes copper-gold mine, enhancing its potential for significant discoveries. The drilling program is expected to impact the company’s operations by potentially expanding its resource base and strengthening its position in the copper-gold mining sector.
More about Magmatic Resources Ltd.
Magmatic Resources Ltd. operates in the mining industry, focusing on the exploration and development of mineral resources. The company primarily targets copper-gold porphyry mineralization, with a significant project in New South Wales, Australia, in partnership with Fortescue Metals Group.
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Technical Sentiment Signal: Strong Buy
Current Market Cap: A$16.68M
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