Magmatic Resources reports significant gold and copper anomalies at Lady Ilse

Proactive - Interviews for investors

Magmatic Resources Ltd (ASX:MAG) managing director Adam McKinnon sits down with Proactive’s Jonathan Jackson to discuss the results of a 64-hole aircore geochemistry program north of the Lady Ilse Prospect in Central West NSW. The results indicate significant gold and copper mineralisation, with one hole intersecting 6 metres at 0.80 g/t gold and 0.15% copper from 12 metres. The findings suggest potential for a Boda-style porphyry system at Lady Ilse, nearly doubling the near-surface gold and copper anomaly to more than 1,200 metres in length, with the trend open to the north. The technical team is modelling the new data to develop a follow-up program and evaluate further drill sites. The aircore program, completed with 64 holes totalling 598 metres, was conducted to test basement geochemistry through shallow cover. Multiple holes showed encouraging gold-copper mineralisation, with several notable results including 17 metres at 0.37 g/t gold and 0.10% copper from 6 metres. These results significantly expand the Lady Ilse system. The program's progress was hindered by inclement weather in mid-July, delaying the planned RC drilling at Rose Hill. This program, which includes 3-5 RC holes, aims to test the shallow copper-gold potential of the prospect. Magmatic continues its exploration efforts at Wellington North, including targets at Boda Southwest and Lady Ilse. #ProactiveInvestors #MagmaticResources #ASX #LadyIlseProspect, #GoldMining, #CopperMining, #AirCoreDrilling, #Mineralisation, #Geochemistry, #Exploration, #PorphyrySystem, #WellingtonNorth, #GoldCopper, #BodaStyle, #InclementWeather, #RCDrilling, #ResourceExpansion, #MiningNews, #TechnicalTeam, #FollowUpProgram, #EastLachlan, #BodaKaiser #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews