Magnetic Resources (ASX:MAU) has identified 10 large new targets to the northeast and south of Lady Julie Central project area in Western Australia.
The targets were defined in a recently completed structural study in combination with reprocessed historical aeromagnetics and ground gravity images, geochemical, geological mapping and drilling data.
The best targets interpreted are where NNW and NE-trending structures intersect known and interpreted porphyry intrusions sometimes associated with mafic rocks.
Existing drill testing has mostly been testing the western part of the Lady Julie 6.5km x 1.5km strip, where there is minimal soil cover and only represents less than 20% of this prospective zone.
AC drilling within these high priority ten targets is anticipated to start within the next two weeks and is within 80% of the prospective Lady Julie strip, which is under cover.
Ongoing extension drilling at Lady Julie Central has shown thick intersections some of which start from near surface with 30m at 2.65g/t from 6m in MLJRC453, 36m at 1.0g/t from 0m in MLJRC475, and a thick intersection of 52m at 1.1 g/t in MLJRC448, 2m at 12.8g/t from 29m in MLJRC456.
There are now four main mineralised centres that have been extensively drilled and in some cases, further drilling is planned. They include Lady Julie Central and Lady Julie WMC (being drill tested over a 1km length), Lady Julie 4 (being tested over 500m length), HN9 (2.5km length) and Homeward Bound South (being tested over a 1km length and is within the 5km mineralised Federation shear zone, with results pending for a 24 RC hole 1820m RC drilling programme).
These four mineralised areas are all shallow deposits and, in some cases, starting from surface providing low strip ratios and potential for economic ore that is open-cuttable.
The Lady Julie Central and Lady Julie WMC mineralisation (Figures 1 and 2) can be unusually thick with associated higher grades, 41m at 2.6g/t from 31m in MLJRC162, 36m at 2.3g/t from 68m in MLJRC352, 52m at 1.5g/t from 15m in MLJRC342 and 52m at 1.1g/t from 68m in MLJRC448, which augers well for the potential economics considering a lot of these intersections also start from surface, 25m at 4.4g/t from 0m in MLJRC348, 22m at 4.1g/t from 0m in MLJRC457, 40m at 1.7g/t from 0m in MLJRC482 and 39m at 1.6g/t from 7m in MLJRC295.
The highest-grade and thickest zones trend NNW within an overall NS trend.
This 1km long target zone is being infill drilled to get it to an Indicated Category. There are at least two separate stacked lodes present in this current drilling area.
Assays are pending for 34 RC holes totalling 3349m and 3 diamond holes for 302m at Lady Julie Central and Lady Julie WMC and Lady Julie 4 and six RC holes totalling 452m at HN9.
For further information please visit: https://magres.com.au/
