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Magnum Mining and Exploration Limited (ASX:MGU)

ALERT: Price-sensitive ASX Announcement for MGU
Current share price for MGU : $0.006 0.002 (50%)+
Announcement
Release
23 Jun 2026 9:29AM
Price at Release
$0.004
Full Release
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Summary
Magnum Mining and Exploration Limited is advancing the Parker Gold-Copper Project in Arizona towards initial drilling. The project integrates advanced geophysical techniques to refine drillable targets based on high-grade Au-Cu surface results. The exploration covers approximately 5 km of prospective strike with Eagle Zone prioritized for initial drilling. No new assay results are reported, but previously noted rock-chip results highlight potential mineralization. The project consists of 79 federal claims and next steps include securing approvals for drilling.
Key Points
  • Magnum Mining and Exploration Limited has advanced the Parker Gold-Copper Project towards initial drilling.
  • The project involves integrated geophysics, including airborne magnetics, radiometrics, and VOXI MVI 3D inversion.
  • Approximately 5 km of prospective strike in Arizona is identified for drill-testing.
  • High-grade Au-Cu surface results have been integrated into a ranked drill-testable framework.
  • Eagle Zone is prioritized for initial drilling, with Red Breccia and NSW Detachment as follow-up targets.
  • No new physical sampling or assay results are reported; past high-grade rock-chip results are referenced.
  • The project covers 79 federal unpatented lode claims in La Paz County, Arizona.
  • Next steps include finalizing drill sequence and obtaining necessary approvals.
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.