Magmatic Resources Ltd has three 100% owned projects (Myall, Moorefield and Wellington North) and one joint venture project (Parkes) comprising seven granted exploration licences in the East Lachlan province in central NSW. The projects cover 856km2 of the East Lachlan province which is prospective for porphyry copper-gold, epithermal and orogenic gold deposits and skarn and VHMS base metals ± gold deposits.
The East Lachlan province is host to major copper-gold mining operations with significant metal endowments such as Cadia (52Moz Au & 9.2Mt Cu), Cowal (7.8Moz Au) and Northparkes (4Moz Au & 3.7Mt Cu), as well as exploration and development projects including McPhillamys (2.2Moz Au), Marsden (1.2Moz Au & 0.68MtCu), Temora (1.8Moz Au & 0.43Mt Cu), Copper Hill (0.48Moz Au & 0.16Mt Cu) and Tomingley (0.76Moz Au).
Porphyry Au-Cu mineralisation in the East Lachlan province is associated with the Ordovician Macquarie Arc which consists of four separate volcanic belts. The two most important belts economically are the Molong Volcanic Belt, which hosts the Cadia Cu-Au mine (Newcrest), and the Junee-Narromine Volcanic Belt, which host the Northparkes Cu-Au mine (CMOC & Sumitomo), as well as the Cowal Au mine (Evolution).