Magmatic Resources (ASX:MAG) advanced exploration activities at the Parkes and Wellington North projects in central New South Wales, according to a Thursday Australian bourse filing.
It is planning a ground magnetic survey to further define geology and anomalies and assist with drill planning at its Wellington North gold-copper project.
It will refine its induced polarization survey modeling to confirm drill targets at the Black Ridge area in its Parkes gold project. It will also complete a detailed data review at the Glenbrook exploration license before starting on-ground work in the search for similar gold deposits.
It said the on-ground exploration for its drilling program at its Myall copper-gold project, also in New South Wales, is expected to be completed in the coming four to six weeks, subject to obtaining further necessary land access, government approvals, and prevailing weather conditions.
Its shares fell 18% on market close on Thursday.
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