Magmatic Resources Limited’s (MAG) is an Australian focused mineral exploration company with six projects in two of Australia’s most prosperous mining jurisdictions.
East Lachlan, NSW:
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 3 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
In March of 2018 MAG agreed to purchase the Mt Venn Copper, Nickel and Cobalt project from Montezuma Mining Company Ltd, which lies immediately along strike from Great Boulder Resources recent Cu-Ni-Co discovery. Magmatic also acquired the Yamarna Gold project 40km to the east in the underexplored Yamarna greenstone belt only 15km northwest of the 5.8Moz Au Gruyere mine under construction (Gold Fields/ Gold Road JV).