Magmatic Resources Hits 13.9 g/t Gold and Maps 2.1km Strike at Weebo Project
Magmatic Resources has reported significant gold intercepts from its Phase 3 drilling programme at the Weebo Project in Western Australia’s Northern Goldfields. The latest results delivered standout hits including 6m @ 3.4 g/t Au (including 1m @ 13.9 g/t Au) at Scone Stone and multiple high-grade intercepts at Otto 2, while Air Core (AC) drilling defined over 2,100m of new strike length across regional targets. The programme tested six prospects across 6,591m of total drilling (10 RC holes for 2,112m and 90 AC holes for 4,479m), with results upgrading exploration potential ahead of the next drill campaign planned for September–October 2026.
Where Weebo sits — surrounded by multi-million-ounce mines
The 270 square kilometre Weebo Project sits strategically among five multi-million-ounce gold operations:
- Darlot (Vault Minerals Ltd)
- Agnew–Lawlers (Gold Fields Ltd)
- Bellevue (Bellevue Gold Ltd)
- Bronzewing (Northern Star Resources Ltd)
- Thunderbox (Northern Star Resources Ltd)
The Ockerburry prospects are positioned in the same stratigraphic setting as Northern Star’s >2.5Moz Thunderbox deposit, located approximately 24km south along the Ockerburry fault.
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Breaking down the Phase 3 results by prospect
| Prospect | Drill Type | Standout Intercept | Significance |
|---|---|---|---|
| Otto 2 | RC | 6m @ 1.96 g/t Au from 137m; 3m @ 3.67 g/t Au from 180m (incl. 2m @ 4.92 g/t Au) | Contiguous bedrock lodes confirmed, open along strike north and south |
| Ockerburry 3 | RC | 8m @ 1.52 g/t Au from 144m | Bedrock lode continuous between sections, open at depth and north |
| Ockerburry 1 | RC | 5m @ 0.61 g/t Au from 173m | Confirmed steep west-dipping structures |
| Scone Stone | RC | 6m @ 3.4 g/t Au from 54m (incl. 1m @ 13.9 g/t Au) | Supergene continuity confirmed |
| West Gold | AC | 4m @ 0.35 g/t Au from 28m | Three anomalies each >700m = >2,100m strike |
| Wheel of Fortune | AC | 4m @ 0.65 g/t Au from 44m | Validated surface geochem for depth targeting |
High-grade bedrock at Otto 2 and Ockerburry
RC drilling confirmed gold-bearing bedrock lodes beneath Permian sediment cover at Otto 2 and Ockerburry 3. At Otto 2, mineralisation is hosted in strongly sheared ultramafic schist with intermittent quartz veins and up to 30% coarse pyrite. The lodes remain open along strike to the north and south, with shallow west-dipping geometry interpreted from drilling. At Ockerburry 3, an 8m @ 1.52 g/t Au intercept extends a bedrock lode characterised by smoky quartz–pyrite–arsenopyrite veining within felsic schist, with mineralisation open at depth and to the north.
Regional-scale AC targets at West Gold and Wheel of Fortune
AC drilling defined extensive gold-bearing structures across both prospects. At West Gold, three separate anomalies each exceed 700m in strike length, delivering a combined >2,100m of potential strike. Gold mineralisation is associated with ultramafic and felsic sediment contacts, characterised by sericite-chlorite alteration, intermittent quartz veining and limonite enrichment.
Independent prospectors have dry blown and produced gold in the years 2025/2026 over the West Gold project, signifying that West Gold structures are gold-bearing. At Wheel of Fortune, AC drilling validated surface geochemistry across the 900m-long Wheel of Fortune 1 anomaly and the 1.7km-long Wheel of Fortune 4 soil anomaly. Results confirmed the soil sampling provides a reliable targeting tool for depth extensions.
What RC and AC drilling actually mean for investors
Reverse Circulation (RC) drilling delivers deeper, more precise samples used to confirm bedrock lodes. RC samples are suitable for future resource estimation work, providing investors with confidence that mineralised intersections are verified and can support economic evaluation.
Air Core (AC) drilling is a cheaper, shallow first-pass method used to detect anomalies and generate drill targets. AC samples are not yet accurate enough for resource estimation but allow Magmatic to screen large ground areas cost-effectively.
Why it matters: The two-tier approach allows Magmatic to test broad strike lengths cheaply with AC, then follow up the best hits with RC drilling. This staged strategy de-risks exploration spend while advancing the most prospective targets. Investors should watch for AC anomalies being upgraded to RC drill targets as a sign of systematic progression.
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The investment case and what comes next
The Phase 3 results delivered multiple high-grade bedrock intercepts and defined regional-scale AC targets across more than 2,100m of strike. The company has outlined a clear forward plan:
- Further drilling planned September–October 2026, commencing at Otto 2
- Otto 2 and Ockerburry lodes remain open at depth and along strike — extension drilling targeted
- West Gold: detailed geochemistry and aeromagnetic review to generate AC/RC targets over >2,100m strike
- Scone Stone: review for southerly plunge potential and north-east step-out
David Richardson, Managing Director
“Phase 3 RC drilling, at the highly prospective Weebo project, has successfully intercepted bed rock gold bearing lodes at Otto 2 and Ockerburry 3 prospects. AC drilling at West Gold and Wheel of Fortune has further defined regional scale supergene gold anomalism that have not been systematically tested for extensions and gold tenor at depth. Shallow Scone Stone gold mineralisation has been confirmed. Magmatic Resources is enthusiastic to recommence drilling at Weebo in the pursuit of economic gold mineralisation.”
The Weebo Project sits within a proven gold corridor, with multiple lodes now confirmed at bedrock and extensive AC-defined anomalies ready for follow-up. The next drill campaign will test strike and depth extensions at Otto 2, where high-grade intercepts remain open, while regional targets at West Gold offer scope for new discoveries across kilometres of untested structure.
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