공시 • Mar 25
Magmatic Resources Limited Provides an Update on Ongoing Activities At Fully Funded Myall Fjva Project with Fortescue
Magmatic Resources Limited provided an update on ongoing activities at fully funded Myall FJVA Project with Fortescue near Narromine in New South Wales. Seven holes of a thirteen-hole drill program2 have been completed, with further drilling planned for the second quarter 2025. The first completed phase of the work included the resampling of 74 diamond tails and AC end-of-hole samples from holes completed prior to 2004. That sampling program was focused on the Corvette - Kingswood area in the west and the Monaro area in the east. The western seven hole program was completed late in January for 1824m (FMD0501 to 507) .Evolution has recently announced 2 new near-mine discoveries, Major Tom and E51 to further add to their existing 22 porphyry systems (Hoye J., 2022). Two diamond drillholes were completed in the Corvette - Kingswood area to test and extend the identified mineralised corridor: FMD0501 tested beneath previous copper-gold porphyry mineralisation intersected in 23MYDD434. A reputable contractor was used., Core orientation completed using a REFLEX tool., AC holes referenced at Calais used aircore method, Drill sample recovery, Method of recording and assessing core and chip sample recoveries and results assessed., Diamond drill core recoveries were recorded during drilling and reconciled during the core processing and geological logging. Full exports are held onsite and backed up., Discuss any adjustment to assay data., No adjustment or calibration are made on any primary assay data collected for purposes of reporting assay grade and mineralised intervals., Location of data points, Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation., Drill hole collars were initially located using a hand-held GPS (accuracy +- 3m). Test work has not been completed to date on molybdenum and is therefore not included in the equivalency. In Magmatic's opinion all elements that have previously been included in the metal equivalency calculation have reasonable potential to be recovered and sold., Criteria, JORC Code explanation, Commentary, Relationship between mineralisation widths and intersection lengths, These relationships are particularly important in the reporting of Exploration Results., Down-hole lengths only, true width currently unknown., If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported., The geometry of the mineralisation is not fully understood. Work on the structural and lithological controls on the mineralisation is ongoing., If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known')., Downhole lengths only, true widths not currently known., Diagrams, Appropriate maps and sections (with scales) and tabulations of intersections should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views., See figures in body of report for drill hole locations and maps where appropriate., Balanced reporting, Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results., Results reported have shown a range of representative mineralisation styles intersected in the drill holes., Other substantive exploration data, Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances., Further work, The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-up.