Magmatic Resources recommences exploration at Wellington North

Magmatic Resources Limited (ASX: $MAG) has announced the recommencement of exploration activities at its 100%-owned Wellington North Project. The project, located adjacent to Alkane Resources' 15.7Moz Au-equivalent Boda-Kaiser discovery, will see exploration activities targeting three key areas: Boda Southwest, Lady Ilse North, and Rose Hill.

Executive Commentary on Wellington North Exploration

We are very excited to be getting back on the ground at our Wellington North project. Exploration has been limited at the project over the last couple of years with the Company's focus squarely on the Corvette and Kingswood discoveries at Myall. During that time our neighbour Alkane Resources has significantly advanced their Boda-Kaiser discoveries, adding millions of gold-equivalent ounces to its Resources base. Our first target area will be Boda Southwest, a sparsely tested area just over two kilometres from Alkane's Boda Mineral Resource, to be followed by work at Lady Ilse North and at Rose Hill. Given the similar geological setting, exceptionally close proximity and the dozens of prospective targets identified, we believe the Wellington North Project has enormous potential to deliver further Boda-scale discoveries.

Summary of Wellington North Exploration

Magmatic Resources Limited (ASX: $MAG) has announced the recommencement of exploration activities at its Wellington North Project, targeting gold-copper mineralization. The project, located adjacent to Alkane Resources' 15.7Moz Au-equivalent Boda-Kaiser discovery, will focus on three key areas: Boda Southwest, Lady Ilse North, and Rose Hill. The Company's Managing Director, Adam McKinnon, expressed excitement about the project's potential and highlighted the geological similarities to the nearby Boda-Kaiser discoveries. The exploration activities will occur concurrently with a program of work at the Myall Project, funded by FMG Resources following a recent Farm-in and Joint Venture Agreement. With the potential for further Boda-scale discoveries, Magmatic Resources aims to unlock the significant exploration potential of the Wellington North Project.