Magnum Mining and Exploration Limited (ASX:MGU), an ASX-listed company focused on resource exploration and development, today announced high-grade gold and copper assay results from its 2026 surface geochemical program at the Parker Project in Arizona, USA. The program, which included systematic soil sampling and targeted rock-chip sampling, has identified significant mineralisation at the Eagle Nest, Red Breccia, and NSW Detachment targets.
Rock-chip assays from Eagle Nest returned values up to 91.6 g/t gold and 18.35% copper. Red Breccia samples also showed promising results, with multiple samples exceeding 100 g/t gold and undergoing further analysis. NSW Detachment samples returned values of up to 37.5 g/t gold and 12.85% copper. Soil sampling results align with mapped and interpreted structures, indicating a prospective strike length of approximately 5km and reinforcing the scale of the Parker surface mineral system.
Michael Davy, Chairman of Magnum, commented on the exceptional surface results, highlighting the high-grade gold and copper assays across multiple target areas. He expressed confidence in the potential of a broad and well-developed mineralised system. The company is currently engaging with the Bureau of Land Management (BLM) to secure drill permitting, with first-pass drilling planned for Eagle Nest and Red Breccia.
The company’s focus is to move as quickly as possible toward drill testing the most compelling targets following permitting. These encouraging results strengthen the view that Parker hosts both a laterally continuous IOCG-style breccia corridor and a separate quartz-porphyry carbonate contacts style structural target.
