Ann: Magmatic raises $5m for drilling Copper-Gold targets, page-51

Good to see you're still around and I did think of you when they announced that they're going to drill Rose Hill as you loved it so much (as we all did/do).


It's definitely one of the best prospects and it's getting drilled next week (mid-March per 25/02/21 announcement).


"Features highlighting the prospectivity of the Rose Hill priority target include:

• Adjacent to existing significant gold-copper drill intercept (71m @ 0.30g/t Au, 0.42% Cu, 57ppm Mo from 0m)

• Existing gold-copper-molybdenum intercept grade consistent with Cadia East Mine resource grade

• Adjacent to peripheral albite rich (sodic) porphyry alteration, typically present in the upper levels/shoulders of East Lachlan gold-copper porphyry systems

• Copper-gold surface rockchip anomalism

• Western margin of strongly magnetite altered (magnetic) monzonite intrusive complex, similar to the relationship evident at Alkane’s nearby Boda Discovery"



Along with a second lab being opened in Orange to cope with demand, I've also heard that MAG have just received access to the area where Rose Hill is and can now drill it.


And apparently this is after 10 years of trying, that access has finally been granted and only due to the previous militant-landowner selling the grounds and now a more friendly landowner to deal with.


Maybe @Lureman the local (or anyone else) can confirm the land sale and/or the previous militant landowner and/or change of landowners?


So, Robert, looks like Management hasn't forgotten about Rose Hill at all and have been restricted by access/out of their hands and have been working on it in the background and preparing for when they do get access to get into it (ie. now) - my point, never question the actions of a more than capable management who know what they're doing, and especially ones that own more shares than anyone else.


Cheers,

GB.