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Magmatic Resources Limited (ASX:MAG)
ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.030 -0.004 (-11.76%)+
Release
18 Jun 2026 8:33AM
Price at Release
$0.034
Full Release
Summary
Magmatic Resources Limited has successfully completed its Phase 3 drill program at the Weebo Gold Project in Western Australia's Eastern Goldfields, with a total of 6,573 meters drilled. This includes 2,112 meters of RC and 4,461 meters of AC drilling, targeting deeper bedrock and advancing several prospects to drill-ready status. Samples have been dispatched to the laboratory, with results anticipated in the next few months. This development marks a significant step forward for the company a year after acquiring the project.
Key Points
- Phase 3 drilling program completed at Weebo Gold Project.
- Total drilling of 6,573 meters, including 2,112 meters of Reverse Circulation (RC) and 4,461 meters of Air Core (AC).
- RC drilling targeted deeper bedrock at four prospects: Ockerburry 1 and 3, Scone Stone, Otto 2, and Sholl's Find.
- AC drilling advanced three prospects to RC drill-ready status: Wheel of Fortune 1, Wheel of Fortune 4, and West Gold.
- All drill samples have been sent to ALS laboratory, with results expected between July and September 2026.
- Completion of Phase 3 is a significant advancement for Magmatic Resources Limited.
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.
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