(NewsDirect)
MagmaticResources Ltd (ASX:MAG) MD Adam McKinnon speaks with Proactiveafter welcoming its first inferred mineral resource estimate (MRE) forthe Corvette and Kingswood deposits at its 100%-owned Myall Project,some 60 kilometres north along strike of the Northparkes Mine incentral New South Wales.
This MRE comes in at 110 million tonnes for the twoprospects, at 0.33% copper equivalent (0.27% copper, 0.07 g/t gold,0.8 g/t silver and 10 parts per million (ppm) molybdenum) at a 0.20%copper equivalent cut-off," McKinnon said.
“We are very pleasedto announce the maiden inferred mineral resource for Corvette andKingswood following a successful drilling program that has seen theintersection of multiple exceptionally long copper and goldintervals."
“With an initial contained metal endowment of 354,000 tonnesof copper metal-equivalent, the maiden mineral resource highlights theincredible potential not just of the Corvette area but of the entireMyall Project.
“The mineral resources are currently open or poorlyconstrained in every direction and at depth, leaving a clear pathwayto potential rapid growth, with numerous key target areas emerging.The identification of higher-grade zones associated with mineralisingintrusives will also be a key target of future explorationprograms."
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
Jonathan@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.