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Magmatic Resources Limited (ASX:MAG)

ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.029 -0.005 (-14.71%)+
Announcement
Release
29 May 2026 8:22AM
Price at Release
$0.034
Full Release
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Summary
Magmatic Resources Limited has commenced Phase 3 of its drill program at the Weebo Gold Project in the Eastern Goldfields of Western Australia. This phase includes 6,745 meters of Reverse Circulation (RC) and Air Core (AC) drilling to explore deeper bedrock targets and test the extensions of known gold anomalies. The program builds on the results of previous drilling phases and focuses on key prospects such as Ockerburry, Scone Stone, Otto, and Sholl’s Find, among others. A steady flow of assay data is anticipated to be released in the coming months, contributing to a better understanding of the gold mineralisation in the area.
Key Points
  • Phase 3 drilling underway at Weebo Gold Project.
  • 6,745 meters of drilling includes RC and AC methods.
  • Focus on deeper exploration targets and gold anomalies.
  • Key prospects include Ockerburry, Scone Stone, Otto, and Sholl’s Find.
  • Assay data expected to be released in upcoming months.
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.