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    Fortescue-backed Myall JV drilling: geometry and resource cues for mine planners

    May 4, 2026|

    Reviewed by Joe Ashwell

    Fortescue-backed Myall JV drilling: geometry and resource cues for mine planners

    First reported on Australian Mining

    30 Second Briefing

    Fortescue-backed Magmatic Resources has reported high-grade copper and gold from 16 reverse circulation and diamond drill holes at its Myall joint venture in New South Wales, with multiple thick sulphide zones intersected near surface. The programme targeted extensions to previously defined porphyry-style mineralisation, with several holes stepping out along strike and down-dip from the Corvette and Kingswood prospects. Results will guide follow-up drilling to refine the geometry and continuity of the copper–gold system ahead of resource definition and potential metallurgical testwork.

    Technical Brief

    • Near-surface sulphide zones reduce pre-strip requirements and may enable early open-pit starter phases.
    • Combination of RC and diamond holes allows rapid coverage plus oriented core for structural and alteration logging.
    • High sulphide content suggests potential for conventional flotation, but metallurgical variability across the system remains a key risk.
    • Geometry refinement of the copper–gold system will directly control pit shell optimisation and potential underground transition designs.
    • For similar NSW porphyry projects, integrating early structural core data with RC geochemistry has shortened resource-definition timelines.

    Our Take

    Fortescue’s backing of the Myall copper–gold work sits alongside its A$680 million Pilbara Green Energy Project push, signalling that the group is pairing new metal discoveries with parallel investment in decarbonised power for future operations.

    Across our mining database, Fortescue most often appears in iron ore and automation stories (for example the recent Caterpillar MineStar Command renewals), so involvement in an early‑stage copper–gold play like Myall broadens its exposure beyond Pilbara bulk commodities.

    With 16 holes already returning high‑grade copper and gold intercepts, Myall is moving into the cohort of Australian greenfield prospects that could benefit from Fortescue’s in‑house electrification and haulage technology stack, potentially shortening the path from discovery to lower‑emission development if the project advances.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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