Magnetic Resources has commenced early works at the Hawks Next and Lady Julie gold deposits at its Laverton project in WA.

The work being undertaken by Blue Cap Mining is designed to cover the key approvals and to confirm the economic viability of the deposits.

“We have hit the ground running and a number of studies are commencing,” Magnetic Resources (ASX:MAU) MD George Sakalidis said.

“This momentum is expected to continue with the ability to fast track work associated with proving the economics of the Hawks Nest 9 and Lady Julie Deposits by using a very experienced team at Blue Cap.

“The studies are advancing the project towards determining economic viability and ultimately production.”

Hydrology and Flora studies planned

MAU has awarded the contract for a broad regional assessment of surface water, with hydrology work to commence in late October.

The company has also awarded the flora contract, with work to start in early November, focusing on the Lady Julie deposits and potential access route for ore haulage.

Quotes have also been received for fauna, groundwater, and soil surveys as well as for optimisation work – which commence on completion of resource review and drilling at Lady Julie North 4 which is open at depth and to the east.

Quotes are being finalised for a digital terrain model (DTM) of five areas encompassing the best economic potential and Native Title and Heritage surveys are pending further discussions.

Metallurgical testing and resource review

Metallurgical testing of Lady Julie Central ore and Lady Julie 4 ore (oxide/trans/fresh) will commence shortly and ore samples have been collected for waste characterisation.

The company has also commenced a review of key resources, with Blue Cap to expand on previous work to ensure the data and modelling are suitably detailed for mining purposes.

 

 

 

This article was developed in collaboration with Magnetic Resources Limited, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

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