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Magmatic Resources Limited (ASX:MAG)

ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.026 -0.037 (-58.73%)+
Announcement
Release
6 Nov 2025 8:13AM
Price at Release
$0.063
Full Release
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Summary
Magmatic Resources Limited has announced the commencement of Phase 2 of the drilling program at its Weebo Gold Project located in the Eastern Goldfields region of Western Australia. Following the successful results from Phase 1, which showed strong potential for shallow gold mineralization, Phase 2 will include 3,500 metres of Reverse Circulation (RC) drilling and 5,000 metres of air-core drilling. The focus will be on the advanced targets at Scone Stone and Ockerburry, with additional exploration at Scholl's Find and Sir Samuel. The company has appointed a full-time Project Manager to oversee the operations as it aims to define solid mineralized areas suitable for Mineral Resource estimates.
Key Points
  • Phase 2 drilling underway at the Weebo Gold Project in Eastern Goldfields, Western Australia.
  • Successful Phase 1 results supported the commencement of Phase 2.
  • 3,500 metres of RC drilling and 5,000 metres of air-core drilling planned.
  • Focus on advanced targets at Scone Stone and Ockerburry.
  • New full-time Project Manager appointed for Weebo Project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.