Magmatic Resources Limited’s (MagRes) is a Gold, and Copper/Gold porphyry exploration company, with interests in other base metals.
In 2016 a wholly owned subsidiary of MagRes purchased 4 exploration projects (Gold, Gold/Copper porphyry and base metals) in East Lachlan, NSW, Australia from Gold Fields (world’s 7th largest Gold producer), with a fully operational exploration office in nearby Orange. Gold Fields owns 20% of MagRes.
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 (43Moz Gold and 8.2Mt Copper resource @ ASIC USD$274oz), Northparkes mine (2.8Mt Copper and 2.9Moz Gold resource), Cowal mine (5.05Moz Gold resource).
With a corporate office in Perth Australia and liaison office in Tokyo Japan, MagRes has inherited a portfolio of more than 40 prospective targets from Gold Fields. Our focus is to concentrate our exploration efforts on our 7+ near surface Gold targets that have open pit mining potential and are close to toll treatment facilities, while advancing our large Gold/Copper porphyry targets with Strategic Joint Venture Partners.
In February we agreed a Joint Venture (JV) on our Parkes project with the Japanese government agency Japan Oil Gas Metals National Corporation (JOGMEC).