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Magmatic Resources Limited (ASX:MAG)

ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.029 -0.01 (-25.64%)+
Announcement
Release
18 Feb 2026 9:15AM
Price at Release
$0.039
Full Release
download
Summary
Magmatic Resources Limited has provided an exploration update for its Weebo Gold Project, following the acquisition of the project in July 2025. The company has been actively conducting air core (AC) and reverse circulation (RC) drilling to explore and define gold mineralization within the project area. The AC drilling aimed to refine early-stage targets based on mapping, surface geochemistry, and historical data, while the RC drilling focused on more advanced targets at the Ockerburry 3 and Scone Stone prospects. Results have been promising, highlighting the potential for significant gold discoveries in these regions and supporting the development of a strong pipeline for future drilling opportunities. The Ockerburry prospect, a 5 km long mineralized trend, and the Scone Stone prospect are key focus areas, with the company reporting notable intersections of gold mineralization across various drill holes.
Key Points
  • Phase 1 and 2 drilling programs at the Weebo Gold Project.
  • Focus on Ockerburry 3 and Scone Stone advanced targets.
  • Significant gold mineralization identified in multiple drill holes.
  • The Ockerburry prospect is a 5 km long mineralized trend.
  • Potential for robust pipeline of early-stage exploration opportunities.
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.