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Magnum Mining and Exploration Limited (ASX:MGU)

ALERT: Price-sensitive ASX Announcement for MGU
Current share price for MGU : $0.007 -0.002 (-22.22%)+
Announcement
Release
11 Aug 2026 11:24AM
Price at Release
$0.009
Full Release
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Summary
Magnum Mining and Exploration Limited has announced an exploration target for the Piracanjuba North area, covering 44 km² subdivided into three key domains. This announcement, dated August 11, 2026, outlines potential resources ranging from 704 to 1,177 Mt with TREO diagnostics between 541 ppm and 649 ppm. The exploration target, not yet classified as a mineral resource, requires more data and an independent audit for further exploration and resource assessment. The project is under full ownership of Magnum Mining and Exploration and is located in Brazil's Goiás and Minas Gerais regions.
Key Points
  • Magnum Mining and Exploration Limited (ASX: MGU) disclosed an exploration target in the Piracanjuba North region on August 11, 2026.
  • The exploration target covers an area of approximately 44 km², divided into three domains: ET-North, ET-PN4, and ET-PN5.
  • ET-North is the largest domain with 33.2 km², ET-PN4 covers 6.66 km², and ET-PN5 covers 4.15 km².
  • The total unrounded estimated target ranges from 704 Mt to 1,177 Mt, with whole-hole head-TREO diagnostics of 541 ppm to 649 ppm.
  • The Piracanjuba North exploration target is not classified as a mineral resource and additional data is required for further exploration.
  • The project is entirely owned by Magnum Mining and Exploration Limited and is situated along the Azimuth 125-degree Lineament in Goiás and Minas Gerais, Brazil.
  • No independent external audit has been completed for the full Piracanjuba dataset yet, but an internal review covered various aspects including assay results and QAQC protocols.
  • Magnum plans further independent database, QAQC, and estimation reviews before the exploration target can be used for mineral resource assessment.
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.