en.Wedoany.com Reported - Magmatic Resources has intersected high-grade copper-gold zones through 16 drill holes at the Myall project, supported by Fortescue in New South Wales, Australia. These results come from the FY26 exploration campaign, which combined aircore drilling, induced polarization, and diamond drilling to preliminarily define the mineralized system.

The Myall project is a joint venture with FMG Resources, a wholly owned subsidiary of Fortescue, which is providing a budget of approximately A$3.9 million to fund exploration. A total of 16 diamond drill holes were completed, with a total advance of 6,240 meters, targeting areas including Barina and Interceptor. At the Barina target, the best result was 4 meters grading 0.5 g/t gold from 395 meters. At the Interceptor target, drilling identified extensive copper mineralization, including 7 meters grading 0.19% copper from 223 meters, extending the mineralized footprint to the south.

Magmatic Resources Managing Director David Richardson said: "Our exploration at the Myall FJVA copper-gold project is progressing well, with the FY26 exploration program completed and initial results received. We expect to receive more results by the end of this quarter." He also noted that the company's Weebo gold project in Western Australia is making positive progress, with follow-up drilling to commence in the second quarter.

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