Magmatic Resources begins drilling at Weebo Project
- Magmatic Resources has commenced reverse circulation drilling across targets at its Weebo Gold Project.
- The announcement provides updates for operational timelines in Western Australia's Yandal Greenstone Belt.
- The programme aims to explore underlying bedrock structures and expand known gold mineralisation zones.
Magmatic Resources (ASX:MAG) has started a follow-up reverse circulation drilling campaign across multiple target sites at its Weebo Gold Project in Western Australia.
The campaign builds upon previous air-core drilling efforts that identified gold-bearing structures in the area.
Magmatic Resources’ Managing Director, David Richardson, commented, “We are pleased to announce the Weebo follow-up RC programme has successfully intercepted target intervals adjacent to previous drilling.”
The active drilling programme targets specific zones including Otto 2, Ockerburry 3, and Scone Stone West to test bedrock mineralisation beneath known anomalies.
Following the announcement, the Magmatic Resources share price was unchanged at $0.018.
The explorer holds a tenure covering approximately 136 square kilometres in the Yandal Greenstone Belt region.
In addition to its Western Australian operations, the company holds a joint venture agreement with Fortescue (ASX:FMG) for its Myall Copper-Gold Project in New South Wales.
