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Magmatic Resources Limited (ASX:MAG)

ALERT: Price-sensitive ASX Announcement for MAG
Current share price for MAG : $0.019 -0.008 (-29.63%)+
Announcement
Release
25 Aug 2026 9:11AM
Price at Release
$0.027
Full Release
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Summary
Magmatic Resources Limited announced the commencement of follow-up Reverse Circulation (RC) drilling at the Weebo Project, focusing on the Otto 2 and Ockerburry 3 prospects. The project is strategically located in the middle of several multi-million-ounce gold mines, aiming to generate significant new gold discoveries. The planned drilling at Otto 2 aims to test lateral geologic and grade continuity along a 200-meter strike of a larger gold mineralized target. At Ockerburry 3, the potential for mineralized structures in the bedrock beneath a gold supergene mineralization body is being explored. The drilling schedule is set for late August to early September 2026, marking the first RC holes on the Scone Stone West prospect. This initiative is expected to expand the exploration potential of the Weebo Project, with updates to be released as drilling progresses.
Key Points
  • Follow-up RC drilling at Weebo Project to commence.
  • Drilling focuses on Otto 2 and Ockerburry 3 prospects.
  • Project located among multi-million-ounce gold mines.
  • Otto 2 drilling to test 200m strike of gold mineralization.
  • Ockerburry 3 to explore structures beneath supergene mineralization.
  • First RC holes at Scone Stone West prospect.
  • Drilling scheduled for late August to early September 2026.
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.