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Significant 107% Increase of Mineral Resource Ounces at Laverton Project. Magnetic Resources NL ASX:MAU, MD George Sakalidis “The Lady Julie North 4 Resource has been the prime drilling focus as reported in periodic releases to the ASX. It has multiple stacked lodes with a number of thick intersections that have not been closed off at depth. The initial deeper drilling started on the 25 January 2023 and has expanded in subsequent months to a 95-hole RC program for 16,356m. Drilling is continuing, with holes in excess of 400m depth, which is expected to increase the current resource at LJN4 of 13.1Mt at 2.02g/t for 852,000oz at a 0.5g/t cut off (Table 2). This LJN4 deposit sits within a regional structure called the Chatterbox Shear Zone that extends over a 12km length within the Magnetic tenements. This shear extends southwards of LJN4 and has had initial AC and RC drilling completed and some anomalous intersections that will be followed up with some shallow RC drilling for the purpose of finding further gold deposits. Drilling in the last 6 months included diamond drill holes for geotechnical evaluation of proposed pits, and for hydrology analysis. Project environmental, heritage and technical background studies are close to completion – optimisation and pit design has commenced on LJC and the expanded LJN4 – the aim is to prepare and submit a Mining Proposal in early 2024. Other strategic opportunities are also being investigated”. Congratulations to the team at Magnetic Resources: George Sakalidis, Eric Lim, Chan Hian Siang, Ben Donovan - AGIA ACIS, Eliza Gee #gold #goldmining #juniormining #goldexploration #goldprices https://lnkd.in/gTQwfTYh

Significant 107% Increase of Mineral Resource Ounces at Laverton Project

Significant 107% Increase of Mineral Resource Ounces at Laverton Project

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