Sydney, Australia - Magnetic Resources NL (ASX:MAU) announced a significant drilling breakthrough at its Laverton Project, reporting an outstanding 51-meter intersection grading 3.5 g/t gold at the Lady Julie North 4 (LJN4) deposit. The company highlighted that this high-grade zone remains open, suggesting further potential for resource expansion. Located within the prolific Laverton gold region near major operations like Granny Smith and Wallaby, this result strengthens Magnetic Resources' position as an emerging gold explorer.
The drilling update follows ongoing exploration efforts at LJN4, part of a broader strategy to delineate shallow, high-grade resources amenable to open-pit mining. The company noted that these findings will contribute to an updated mineral resource estimate, with a Prefeasibility Study (PFS) nearing completion to assess project economics. Magnetic Resources aims to leverage existing regional infrastructure to fast-track development, targeting production within 18-24 months, pending necessary approvals.
Managing Director George Sakalidis hailed the intercept as a game-changer, stating, "This exceptional result underscores LJN4's potential to drive our growth as a low-cost gold producer, especially with gold prices trending favorably." The company plans to release detailed assay data and PFS results in the coming weeks, alongside exploring partnership opportunities to accelerate the project timeline. Magnetic Resources continues to advance its Laverton assets, capitalizing on its strategic location and robust exploration pipeline.
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About Magnetic Resources Nl:
Magnetic Resources NL (ASX:MAU) is an emerging gold producer focused on developing the high grade Lady Julie North 4 deposit in Laverton, Western Australia.
Source: Magnetic Resources Nl
Contact:
George Sakalidis Managing Director Phone (08) 9226 1777 Mobile 0411 640 337 Email george@magres.com.au
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Sydney, Australia - Magnetic Resources NL (ASX:MAU) announced a significant drilling breakthrough at its Laverton Project, reporting an outstanding 51-meter intersection grading 3.5 g/t gold at the Lady Julie North 4 (LJN4) deposit. The company highlighted that this high-grade zone remains open, suggesting further potential for resource expansion. Located within the prolific Laverton gold region near major operations like Granny Smith and Wallaby, this result strengthens Magnetic Resources' position as an emerging gold explorer.
