Magmatic Resources restarts exploration at Wellington North
Melbourne, Victoria
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March 20, 2024 01:00 PM Eastern Daylight Time
Magmatic Resources Ltd (ASX:MAG) managing director joins Proactive’s Jonathan Jackson to talk about the restart of exploration at the company’s Wellington North project in Central West NSW, adjacent to significant gold-copper deposits. McKinnon emphasised the project's role in Magmatic’s portfolio, situated near major mining operations like Newmont's Cadia and near Alkane Resources' Boda-Kaiser deposits. Within Wellington North is the historic Bodangora Gold Field, which is part of the northern extension of the Molong Volcanic Belt. This area is known for its rich gold history and proximity to large porphyry gold-copper resources. With more than 230,000 ounces of gold produced historically at high grades, the project's potential is underscored by its favourable geological setting. Magmatic has pinpointed three key areas - Boda Southwest, Lady Ilse North, and Rose Hill - for focused exploration. These sites, with proven mineralisation yet limited drilling, present significant untapped potential. The initial focus will be on Boda Southwest, leveraging its proximity to Alkane's Boda deposit to uncover similar large-scale mineral resources.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
