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Magmatic Resources Limited (ASX:MAG)

ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.032 -0.023 (-41.82%)+
Announcement
Release
28 Jan 2026 8:17AM
Price at Release
$0.055
Full Release
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Summary
Magmatic Resources Limited has announced the successful confirmation of shallow gold mineralisation at the Weebo Gold Project following their Phase 2 reverse circulation (RC) drill program. The program intersected significant gold mineralisation across the Ockerburry and Scone Stone prospects, which remain open along strike and down dip. At the Ockerburry 3 prospect, 17 RC holes were drilled, revealing notable intersections such as 1m at 19.4 g/t gold from 93m and 8m at 3.31 g/t gold from 47m. Additionally, the Scone Stone prospect exhibited intersections including 5m at 2.21 g/t gold from 35m. The Weebo Project, located strategically among several multi-million-ounce gold mines in Western Australia, continues to show potential for significant gold discoveries. Further exploration efforts, including air-core drilling results expected by late January 2026, aim to solidify these findings and explore additional targets across the region.
Key Points
  • Phase 2 RC drill program confirms shallow gold mineralisation at Weebo Gold Project.
  • Significant gold intersections at Ockerburry and Scone Stone prospects.
  • Ockerburry 3 prospect reveals intersections such as 1m at 19.4 g/t gold and 8m at 3.31 g/t gold.
  • Scone Stone prospect shows intersections including 5m at 2.21 g/t gold.
  • The Weebo Project is strategically located among major gold mines in Western Australia.
  • Further exploration and air-core drilling results are anticipated to enhance understanding and potential.
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.