Magmatic Resources obtained approval of an initial work program for the Myall farm-in and joint venture project with FMG Resources.

An exploration committee from both companies will oversee the program. The work program, set for the 2024/2025 financial year, includes two phases.

The first phase focuses on re-assaying historic core and drill chips to expand geochemical and hyperspectral data coverage, resampling up to 75 holes, particularly in the Corvette/Kingswood and Monaro prospect areas.

Phase 2 of the program will involve six diamond drill holes, each ranging from 400-500m in depth.