MAG 4.17% 10.0¢ magmatic resources limited

if I remember correctly, at Rose Hill, the previous MD only...

  1. 7,431 Posts.
    lightbulb Created with Sketch. 1411
    if I remember correctly, at Rose Hill, the previous MD only tested the good hole at depth and when he saw there was no porphyry below if he abandoned the idea to explore further so Adam correctly claims the mineralisation is open at strike.
    If Adam can prove around 500m of strike then there is nice little resource there as AuEq of the original hole stands at around 0.85g/t.
    And there is always the possibility that mineralisation to be open at depth at another point along one of the sides from the original hole. This could be similar to the lithocap porphyry deposits that have thin layer of mineralisation with big strike but at one point that mineralisation leads deep into the core.

    See below what I mean... MAG hit decent mineralisation with the first hole but missed the mineralisation as the follow up hole was drilled below the zone and only returned very low grades. As Adam test along strike he may stumble on the channel that leads to the deeper porphyry.


    https://hotcopper.com.au/data/attachments/6040/6040941-cd0a7c96d98ff6d33151495463793fa3.jpg

 
watchlist Created with Sketch. Add MAG (ASX) to my watchlist
(20min delay)
Last
10.0¢
Change
0.004(4.17%)
Mkt cap ! $38.16M
Open High Low Value Volume
9.6¢ 10.5¢ 9.5¢ $46.63K 473.0K

Buyers (Bids)

No. Vol. Price($)
1 423 10.0¢
 

Sellers (Offers)

Price($) Vol. No.
10.5¢ 5000 1
View Market Depth
Last trade - 16.10pm 13/05/2024 (20 minute delay) ?
Last
9.6¢
  Change
0.004 ( 0.00 %)
Open High Low Volume
9.6¢ 10.0¢ 9.5¢ 195697
Last updated 15.59pm 13/05/2024 ?
MAG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.