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Magnetic Resources NL (ASX:MAU)

ALERT: Price-sensitive ASX Announcement for MAU
Current share price for MAU : $1.850 0.5 (37.04%)+
Announcement
Release
19 Jan 2026 8:26AM
Price at Release
$1.350
Full Release
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Summary
Magnetic Resources NL has announced a significant update to the Lady Julie Gold Project, revealing that the combined resource now exceeds 39.1 million tonnes containing 2.24 million ounces of gold, with over 80% falling into the Indicated category. This update follows deep drilling efforts aimed at enhancing confidence in the northern portion and expanding depth of the resource. The open pit resource at Lady Julie North 4 is projected to be 30.58 million tonnes at 1.79 g/t gold, while the underground resource is estimated at 4.04 million tonnes at 2.15 g/t gold. This expansion reflects an increase of 8% in the Indicated category, underscoring the project's significant potential. With all mining leases granted and further drilling planned, the Lady Julie Gold Project is positioned for further growth and development.
Key Points
  • Resource at Lady Julie Gold Project exceeds 2.24 million ounces.
  • Over 80% of the resource is in the Indicated category.
  • Deep drilling has boosted confidence and expanded resource depth.
  • Open pit resource at Lady Julie North 4: 30.58Mt at 1.79 g/t Au.
  • Underground resource: 4.04Mt at 2.15 g/t Au.
  • 8% increase in the Indicated category.
  • All mining leases have been granted.
  • Further drilling planned to continue resource expansion.
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.