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Copper|Exploration|Gold|Iron Ore|Mining|PROJECT|Resources|Systems|Drilling
Copper|Exploration|Gold|Iron Ore|Mining|PROJECT|Resources|Systems|Drilling
copper|exploration|gold|iron-ore|mining|project|resources|systems|drilling

Magmatic, Fortescue uncover new copper/gold target at Myall

25th March 2025

By: Creamer Media Reporter

     

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Australia's Magmatic Resources has identified a potential new copper/gold discovery at the Myall project in New South Wales, where it is conducting a farm-in and joint venture exploration programme with iron-ore major Fortescue.

Drilling at the Calais target returned 10.8 m at 0.39% copper and 0.07 g/t gold at the end of hole FMD0504, within a broader 42.8 m intercept grading 0.19% copper and 0.03 g/t gold. The result, over 100 m from the nearest historical aircore hole, opens a second major exploration front within the project.

At the Corvette-Kingswood area, drilling extended mineralisation southward, with hole FMD0501 intersecting 12 m at 0.58% copper and 0.04 g/t gold, within a broader 67 m interval at 0.22% copper.

Magmatic MD David Richardson said the early-stage success at Calais underscored the potential for a cluster of porphyry systems at Myall, comparable to Evolution Mining’s nearby Northparkes mine. 

Further drilling was planned for the second quarter.

 

Edited by Creamer Media Reporter

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