In January 2020, ERA visited 3 of Magmatic Resources (MAGs) NSW Projects being Wellington North, Myall and Parkes as shown in Figure 1a. This report has been based on available historical information (SLNSW, Trove and Wellington’s Oxley Museum), and presentations made by Magmatic and Alkane (ALK). MAG acquired its 4 main NSW Project areas mostly from Goldfields (GFI stopping NSW exploration, but still retaining a 12.5% holding in MAG) in 2013, with interest in MAG sky-rocketing ~ 11x from 1.8c in September 2019 to ~22c on 31 December 2019, due to its Wellington North prospects surrounding ALK’s Boda porphyry gold-copper discovery.
February 11, 2020