(NewsDirect)
Magmatic ResourcesLtd (ASX:MAG) MD Dr Adam McKinnon tells Proactive the company hasreceived approval from its Board of Directors for a new high-impactdiamond drilling campaign in the greater Corvette and Kingswood areawithin the Myall Project in central New South Wales. The follow-updrilling is designed to rapidly expand the known footprint of theporphyry copper-gold system at Myall. Drilling will target shallowmineralisation immediately below the transported cover, with 8-10holes at an average depth of 250 metres. The new program follows thecompletion of an initial mineral resource estimate for the Corvetteand Kingswood deposits, comprising 110 million tonnes at 0.33% copperequivalent and equating to 354,000 tonnes of copper metalequivalent.
McKinnon said: “I am very excited that diamond drilling willshortly recommence at the Myall Project.
“The proposed drilling represents somewhatof a step-change in approach, with the company looking to rapidly testmultiple high-potential target areas around the Corvette and Kingswooddeposits and further afield. “With 55% of this MRE tonnage within300 metres of surface, the upcoming drilling provides an opportunityto expand this shallow footprint and also potentially to make newhigh-grade discoveries.”
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
Jonathan@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.