Magnetic Resources Says Recent Drilling at Western Australia Deposit Points to Potential Resource Increase
MT Newswires Live
Jan 12
Magnetic Resources (ASX:MAU) said recent drilling results at the LJN4 deposit in Western Australia indicated a potential resource increase, according to a Monday filing with the Australian bourse.
Drilling returned multiple thick intersections, including 18 meters at 2.27 grams per tonne of gold from 306 meters, 61 meters at 1.13 g/t gold from 257 meters, and 31 meters at 1.30 g/t gold from 633 meters, the filing said.
The drill program is continuing, with the resource update expected to be completed shortly, per the filing.
Shares rose 2% in afternoon trade on Monday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.