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Magmatic Resources Limited (ASX:MAG)

ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.028 -0.025 (-47.17%)+
Announcement
Release
30 Sep 2025 8:17AM
Price at Release
$0.053
Full Release
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Summary
Magmatic Resources Limited has successfully completed its maiden drilling program at the Weebo Gold Project located in the Eastern Goldfields of Western Australia. The drilling targeted the advanced prospects of Scone Stone and Ockerburry, completing 743 metres of Reverse Circulation (RC) drilling and 2,446 metres of air-core drilling respectively. Despite hard ground conditions, sufficient geological data was obtained to guide future exploration activities. The company has also expanded its exploration tenure by 60 square kilometres with a new Exploration Licence. Initial assay results from the drilling are expected within two weeks, as Magmatic gears up for further exploration activities with the potential for new gold discoveries.
Key Points
  • Drilling completed at Weebo Gold Project focusing on Scone Stone and Ockerburry prospects.
  • 743 metres of RC drilling at Scone Stone completed despite hard ground conditions.
  • 2,446 metres of air-core drilling at Ockerburry prospect completed.
  • First assay results expected within two weeks.
  • Expansion of exploration tenure by 60 km² through a new Exploration Licence.
  • Future drilling campaigns are planned as gold prices remain high.
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.