Magnetic Resources Expands LJN4 Gold Deposit: A Promising Future
MAU (MAU) Share Update January 2025 Monday 13th
Magnetic Resources Reports Significant Expansion in Gold Deposit
Magnetic Resources NL has announced a substantial expansion of its LJN4 gold deposit in the Laverton region, with the down-dip dimension now exceeding 1000 meters.
Instant Summary:
- LJN4 gold deposit expanded from 750m to over 1000m.
- Strong gold intersections in multiple drill holes.
- Average gold recoveries exceed 91% across all oxidation states.
- Feasibility study underway for both open cut and underground resources.
- Ongoing discussions with potential financiers and mining partners.
Expansion of LJN4 Gold Deposit
Magnetic Resources NL has reported impressive growth in its LJN4 gold deposit, located in the Laverton region. The deposit's down-dip dimension has expanded from 750 meters to over 1000 meters, showcasing the potential for significant resource development. This expansion is supported by multiple gold intersections from recent drilling activities.
Notable drill results include 76 meters at 2.4g/t gold from 435 meters in MLJDD059, and 24 meters at 5.1g/t gold from 352 meters in MLJDD065. These results highlight the robust mineralization present in the deposit, which remains open at depth.
Feasibility and Economic Studies
With promising economic results, Magnetic Resources is advancing its feasibility study to include both open cut and underground mining options for the first time. This study is expected to enhance the project's economics and provide a clearer path forward for resource extraction.
Additionally, the company is in discussions with select mining companies and financiers, who are conducting due diligence with the potential to provide financing for the Lady Julie Gold Project.
Metallurgical Success
Recent metallurgical tests have shown strong gold recoveries, with average recoveries exceeding 91% across all oxidation states. This includes both conventional gravity/CIL leach methods and the addition of flotation and fine grinding techniques, which have improved recovery rates in certain composites.
The expansion of the LJN4 deposit and the high recovery rates are likely to positively impact Magnetic Resources' stock value. The ongoing feasibility study and discussions with financiers could attract investor interest and provide a boost to the company's market position.
Investor Reaction:
Analysts are likely to view the expansion and high recovery rates favorably, as they indicate strong potential for future profitability. The feasibility study's inclusion of underground resources is seen as a strategic move to maximize resource extraction.
Conclusion:
Investors should keep an eye on the outcomes of the feasibility study and the company's discussions with potential partners. These developments could significantly influence Magnetic Resources' growth trajectory and stock performance.