Magmatic Resources Limited Promising Exploration Results at Myall FJVA Project

Magmatic Resources Limited (ASX: MAG) has provided a significant update on its fully funded Myall FJVA Project with Fortescue near Narromine, New South Wales. The ongoing drilling program, designed to test multiple regional targets, has already completed seven of thirteen planned holes, with further drilling scheduled for Q2 2025. The project area, covered by approximately 100m of overburden, aims to uncover basement mineralization.

Drill hole FMD0504 at Calais intersected 10.8m at 0.39% Cu and 0.07 g/t Au, extending the search area for high-grade copper-gold porphyry deposits. Additionally, drilling at Corvette expanded the Corvette-Kingswood Resource (354kt CuEq), extending known mineralization by 200m to the south. The Myall Project, targeting deposits similar to the nearby Northparkes copper-gold mine, continues to demonstrate strong exploration potential. Managing Director David Richardson emphasized the discovery’s significance, reinforcing the project’s potential to host multiple porphyry systems, positioning it as a Tier 1 copper-gold exploration opportunity.

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