MAG.ASX: Gold Intercepts Upgrade Weebo Project Exploration Potential

Gold Intercepts Upgrade Weebo Project Exploration Potential

Stock	Magmatic Resources Ltd (MAG.ASX)
Release Time	22 Jul 2026, 9:31 a.m.
Price Sensitive	Yes

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Magmatic Resources Announces Gold Intercepts at Weebo Project

Key Points

Significant gold intercepts at Otto 2 and Ockerburry 3 prospects
RC drilling confirms bed-rock gold bearing lodes
AC drilling delineates regional scale gold structures

Full Summary

Magmatic Resources Ltd. has announced positive results from its Phase-3 Reverse Circulation (RC) and Air Core (AC) drilling at the Weebo Project. The drilling targeted six prospects within the project area, resulting in significant gold intercepts. Notably, RC drilling at Otto 2 and Ockerburry 3 confirmed the presence of bed-rock gold bearing lodes. AC drilling at West Gold and Wheel of Fortune successfully delineated regional scale gold structures. Further drilling is planned to test the extent and depth of these intercepts. Managing Director, Mr. David Richardson, expressed enthusiasm for the potential of the Weebo Project to yield economic gold mineralisation.

Outlook

The company plans to continue exploration at the Weebo Project to further test and define the gold mineralisation identified.