Magmatic Resources Ltd (ASX:MAG) has uncovered more evidence for a mineralised copper system stretching up to six kilometres in length at the Black Ridge prospect of the Parkes Project in New South Wales.
The company’s reconnaissance mapping and sampling program generated rock chip results of up to 7.4% copper from shallow historical workings in the central-southern area of the prospect.
MAG says the area has shown multiple moderate to strongly chargeable features, having modelled the data from a pole-dipole induced polarisation (IP) geophysical survey over the copper trend.
Magmatic is already following-up these copper results with close-spaced soil sampling, which will further inform potential drilling targets.
Magmatic geologist holding a copper-bearing rock sample assayed at 2.0% copper and 5 g/t silver
Wellington North Project
Magmatic has also begun a reverse circulation (RC) drilling program at the Rose Hill prospect of the Wellington North Project, also in NSW.
The company intends to drill four holes for about 250 metres, targeting shallow mineralisation along strike from a previous drilling results that registered 71 metres at 0.43% copper, 0.30 g/t gold and 57 parts per million molybdenum from surface.
The prospect sits just 10 kilometres west of Alkane Resource’s 14.7-million-ounce gold-equivalent Boda & Kaiser deposits – Magmatic believes the area is prospective for a similar style of copper-gold mineralisation.
MAG expects the RC program to take about two weeks, subject to weather conditions, with results anticipated by the end of October or early November.
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