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Magmatic Resources Limited (ASX:MAG)

ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.028 0 (0%)+
Announcement
Release
4 May 2026 8:33AM
Price at Release
$0.028
Full Release
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Summary
The document reports on the exploration results from the Myall Farm-in and Joint Venture Agreement (FJVA) Copper-Gold Project carried out by Magmatic Resources Limited in collaboration with FMG Resources Pty Ltd. The exploration program completed for FY2026 included aircore and diamond drilling, focusing on intercepting copper and gold mineralization. Notable results from the Interceptor Prospect included intersections of copper and gold at various depths, highlighting the presence of a magnetite-albite altered diorite. The Barina Prospect also showed promising gold intersections. The exploration budget was increased to approximately $3.9 million, and additional geophysical surveys were conducted at the Kingswood-Corvette Prospect. Further assay results are anticipated later in the fiscal year.
Key Points
  • FY2026 exploration programs completed at Myall FJVA Copper-Gold Project.
  • Funding provided by FMG Resources Pty Ltd, a subsidiary of Fortescue Ltd.
  • 16 diamond drill holes totaling 6,240.4 meters completed.
  • Significant intersections at Interceptor and Barina Prospects.
  • Copper and gold mineralization found in magnetite-albite altered diorite.
  • Budget increased to ~$3.9M for additional diamond drilling.
  • 4.3 km induced polarisation survey conducted at Kingswood-Corvette.
  • Further assay results expected later in the quarter.
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.