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Up and coming explorers to feature in Proactive Resources Webinar next Tuesday

Last updated: 15:28 16 Sep 2021 AEST, First published: 09:28 16 Sep 2021 AEST

Up and coming explorers to feature in Proactive Resources Webinar next Tuesday

Three up and coming junior resource companies with highly prospective projects in Australia’s productive yet underexplored precious and base metals mineralised regions will present their investment cases during the Proactive Resources Webinar next Tuesday.

Two of the companies, Australian Gold and Copper Ltd (ASX:AGC) and Magmatic Resources Ltd (ASX:MAG), are exploring in the prolific central portion of the Lachlan Fold Belt in NSW while the third, Sipa Resources Ltd (ASX:SRI), is active in WA’s Pilbara region, including in Paterson Province, which is attracting considerable attention.

The webinar will be on Tuesday, September 21, at 12pm AEST (10am WA time) and registrations can be made here.

Australian Gold and Copper

Managing director Glen Diemar will present Australian Gold and Copper’s investment case focused on gold and copper-gold projects within the Central Lachlan Fold Belt that hosts the Cowal Gold Mine as well as the copper-gold operations at Northparkes and Cadia Valley.

The wholly-owned Moorefield, Cargelligo and Gundagai projects cover about 1,000 square kilometres and contain numerous drill-ready targets identified by multiple datasets and each provide the opportunity for a gold or copper-gold discovery.

AGC is highly encouraged by drilling results from the Cargelligo Project this week that returned broad copper hits of up to 18 metres at 0.11% copper from 80 metres in one hole and 85 metres at 0.13% copper from 165 metres including 1-metre at 0.59% from 167 metres in another.

With the results showing a copper zone strengthening towards an EM conductor identified in an aerial survey, the company plans to begin diamond drilling with a rig to mobilise to the site next week.

The company is also planning extensive exploration, including drilling, at the Moorefield Gold Project.

Magmatic Resources

The Magmatic story that is primarily focused on the East Lachlan section of the Lachlan Fold Belt will be outlined by managing director Peter Duerden.

This section has an endowment of more than 80 million ounces of gold and 13 million tonnes of copper, including the gold-copper porphyry cluster at Cadia Valley District, where Cadia East Mine represents Australia’s largest gold mine and one of the world’s most profitable gold producers.

Magmatic’s three Wellington North tenements effectively surround the recent Boda gold-copper discovery by Alkane Resources Limited (ASX:ALK) while the company also has a strategic position in the Parkes Fault Zone with its Myall and Parkes projects, north and south of Alkane’s Tomingley Gold Operations.

At Wellington North that covers the northern extension of the Molong Volcanic Belt, the company has defined the potential for discovery of new high-grade gold deposits at the historical 230,000-ounce Bodangora Gold Field after completing a 3D evaluation and review, including compilation of historic sampling data from unmined material.

Sipa Resources

Sipa’s managing director Pip Darvall will highlight the company’s busy work program focused on projects in the northern Pilbara of Western Australia and encompassing the Paterson Province.

A primary focus is the Warralong Gold Project that is prospective for intrusion hosted gold in a lookalike structural setting to recent discoveries in the district.

The company is advancing a 4,000-metre reconnaissance aircore drilling program during which it has encountered a range of basement lithologies representative of several intrusive rock types, with occasional minor pyrite.

Sipa plans to undertake comprehensive basement interpretation once drilling is complete and assays are received.

At the Wolfe Basin Project, a diamond drill rig has been secured to test targets generated from a dipole-dipole induced polarisation (DDIP) survey over the Romulus prospect.

Site preparation work is underway to advance the drilling, which is planned to start in the fourth quarter of 2021.

The Paterson North Copper-Gold Project is being progressed in partnership with Rio Tinto Limited through a farm-in arrangement and the partners plan to combine geophysical survey results with other geophysical data already collected to refine drill targets and potentially identify new targets prospective for copper-gold.

Webinar details

When: Tuesday, September 21, 2021.

Time: 12pm Sydney time, 10am WA time.

Focus: Small cap resources.

Register: https://event.webinarjam.com/register/88/n6xpqu1o

Questions: Email John Phillips - john.phillips@proactiveinvestors.com

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