Magmatic Resources uncovers 7.4% copper in rock chips at Parkes Project

Proactive - Interviews for investors

Magmatic Resources Ltd (ASX: MAG) managing director Adam McKinnon joins Proactive’s Tylah Tully to discuss the company’s significant results from its exploration activities at the Black Ridge prospect of the Parkes Project in New South Wales. Rock chip sampling returned copper grades of up to 7.4%, along with 23 g/t silver from shallow historical workings in the central-southern area of the prospect. The findings suggest a mineralised copper system potentially stretching six kilometres in length. The company has identified multiple moderate to strongly chargeable zones, based on data from a pole-dipole induced polarisation geophysical survey, and is conducting close-spaced soil sampling to further define drilling targets. Additionally, Magmatic has initiated a reverse circulation (RC) drilling program at the Rose Hill prospect of the Wellington North Project, also in New South Wales. The four-hole, 250-metre drilling program will target shallow mineralisation along strike from previous drilling results, which included 71 metres at 0.43% copper, 0.30 g/t gold, and 57 ppm molybdenum from surface. The prospect is located 10 kilometres west of Alkane Resource’s Boda & Kaiser gold-copper deposits. Results from the RC program are expected by late October or early November. #MagmaticResources #CopperExploration #ParkesProject #WellingtonNorthProject #RockChipSampling #GoldCopperMineralisation #RCDrilling #GeophysicalSurvey #SoilSampling #MineralisedZones #CopperFinds #ExplorationUpdate #MiningNews #GoldExploration #BodaKaiser #AlkaneResources #NewSouthWales #MiningProjects #ExplorationResults #MiningUpdates #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews