Magmatic Resources Limited’s (MAG) is an Australian focused mineral exploration company with 5 projects in two of Australia’s most prosperous mining jurisdictions.
East Lachlan, NSW:
East Lachlan is Australia’s largest Gold/Copper porphyry region and 2nd largest Gold region and is home to many major mines and deposits including:
- Australia’s largest gold mine Cadia Valley 100 Moz gold equivalent (43 Moz gold and 8.2 Mt copper resource @ ASIC USD$274/oz),
- Northparkes mine (2.8 Mt copper and 2.9 Moz gold resource),
- Cowal mine (8 Moz gold resource).
MAG purchased 4 gold, copper, and base metals exploration projects in 2016 from Gold Fields (worlds 7th largest gold producer). Gold Fields maintain a 20% shareholding in MAG.
Gold Fields and MAG have spent in excess of $16m on exploration on these projects and past 10 months exploration results include the discovery of a new and expansion of 2 other large near surface gold targets:
- Boxdale-Carlisle Reefs 15km near surface Gold Trend, see ASX announcement 4 December 2017
- Lady Ilse Gold- Copper discovery: 10km target under thin cover, see ASX announcement 19 February 2018
- MacGregors 2km mineralised near surface gold trend, see ASX announcement 20 March 2018
With a liaison office in Tokyo Japan, MAG has a Joint Venture (JV) on our Parkes project with the Japanese government resources agency Japan Oil Gas Metals National Corporation (JOGMEC).
In March of 2018 MAG agreed to purchase the Mt Venn Copper, Nickel and Cobalt project from Montezuma Mining Company Ltd.