Magmatic Resources launches phase three RC drill program at the Weebo gold project

• Drilling totalling 6,745m underway at Weebo
• RC drilling has commenced with AC drilling ongoing
• 1,745m of RC drilling designed to advance bedrock targets
• 5,000m of AC drilling will test both anomaly extensions and down-dip mineralisation

Magmatic Resources (ASX: MAG) has kicked off the phase three RC drilling program at the Weebo gold project in the Eastern Goldfields region of WA.

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The phase three campaign of aircore (AC) and reverse circulation (RC) drilling features 1,745m of RC work designed as “the next step” to advance bedrock targets at a range of prospects.

At Ockerburry 1 and 3 Magmatic is targeting bedrock mineralisation under extensive supergene anomalies defined in AC drilling.

At Scone Stone drilling is testing lateral and down-dip mineralisation in favourable porphyry host below supergene gold,

Otto 2 the company is testing significant gold intercept under Permian glacial cover and at Sholl’s Find it us targeting significant gold shoots in scout drilling.

MD, David Richardson, said this is another key for the company with the RC and AC rigs now on site and drilling.

“The RC drilling will test deeper exploration targets within the Weebo gold project.

“A steady flow of assay data is expected to be released to the market over the next two to three months.”

This program builds on Magmatic Resources Phase 1 and 2 drilling.

The 5,000m of AC drilling is testing both the extension of gold anomalies and down-dip of mineralisation defined in Phase 1 and 2 drilling.

There is a focus on the advancing the Wheel of Fortune 1, Wheel of Fortune 4 and West Gold prospects to RC drill ready.

Magmatic has also designed two RC drill holes for 405m to confirm historic drilling and determine the dip of the structure hosting the above significant intercept at Otto 2, an early-stage exploration target. Ongoing step out drilling will be guided by results from these drill holes.

MAG is steady at 3.4¢. Mkt cap $17.07M.

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