Magnetic Resources NL (ASX: MAU) Advances Lady Julie North 4 Gold Project with Promising Results

Key Highlights:

• Outstanding gold intersections, including 24m at 5.1g/t and 76m at 2.4g/t.
• Expansion of the Lady Julie North 4 (LJN4) deposit to a down-plunge dimension of at least 1,000m.
• Feasibility study initiated to incorporate both open-pit and underground mining options.
• Resource growth continues, with Laverton Project resources increasing by 40% in 2024 to 1.87 million ounces.

Magnetic Resources NL (ASX: MAU) continues to build momentum with its flagship Lady Julie North 4 (LJN4) deposit in the Laverton region, Western Australia. The latest drilling results reveal exceptional gold intersections, significantly expanding the deposit's size and reinforcing its potential as a cornerstone asset for the company.

Outstanding Intersections Signal Resource Expansion

Recent drilling at LJN4 yielded notable results, including:

• 76m at 2.44g/t gold from 435m, including 30m at 3.46g/t and 10m at 6.26g/t (MLJDD059).
• 24m at 5.10g/t gold from 352m, including 19m at 5.96g/t (MLJDD065).
• 27m at 3.24g/t gold from 315m, including 17m at 4.03g/t (MLJDD066).

The northern zone of LJN4 has grown from a 750m down-plunge dimension to over 1,000m, with mineralisation starting at a shallow depth of 30m. This zone remains open at depth, offering substantial upside potential.

Strategic Focus on Both Open-Pit and Underground Mining

Magnetic Resources is advancing a feasibility study to evaluate the integration of open-pit and underground mining. The high-grade northern zone of LJN4, averaging 10-15m in width, exhibits favorable attributes for underground operations. The company aims to maximize resource extraction by leveraging both mining methods.

Regional Potential and Broader Laverton Project Growth

LJN4 forms part of Magnetic's broader Laverton Project, which also includes the Lady Julie Central, Hawks Nest, and Mt Jumbo deposits. The Laverton Project's total resource base increased by 40% in 2024, now standing at 32.6 million tonnes at 1.79g/t gold, containing 1.87 million ounces.

The Path Ahead

Magnetic Resources plans additional drilling to further define the central core of LJN4, where gram-meter values exceed 80, and explore deeper extensions of the deposit. With assays pending for multiple drill holes, the company anticipates continued resource growth.

Managing Director George Sakalidis expressed optimism, stating, "The ongoing success at LJN4 underscores its potential to become a cornerstone asset in the Laverton region. With the Australian gold price at record levels, Magnetic Resources is well-positioned to deliver value for shareholders."

Magnetic Resources NL’s advancements at Lady Julie North 4 highlight the project's robust potential to underpin long-term growth. As the deposit continues to expand and feasibility studies progress, Magnetic remains a company to watch in the Australian gold mining landscape.

At the time of writing this article, Magnetic Resources NL (MAU) stocks were trading at $A 1.23