Magnetic Resources (ASX:MAU) extended mineralization at the Lady Julie North project in Western Australia, according to a Monday filing with the Australian bourse.
Drilling at the LJN4 deposit extended mineralization to 1 kilometer down dip starting from 30 meters deep, with yields of up to 11 meters at 2.2 grams per tonne (g/t) grade of gold from 592 meters, including 5 meters at 4.6 g/t gold from 592 meters, the miner said in the filing.
The company's shares were up almost 4% in recent Monday trade.
Price (AUD): $1.30, Change: $+0.05, Percent Change: +3.60%
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