Magnum Mining and Exploration Limited has advanced its Parker Gold-Copper Project toward initial drilling after the U.S. Bureau of Land Management determined the exploratory drilling notice to be complete.

The regulatory review covers serial number AZAZ106803823 and includes a finding that the planned activities will not cause unnecessary or undue degradation. The notice remains in effect for two years.

Prior to the BLM notice completion, Magnum completed systematic soil sampling, rock-chip sampling, and airborne geophysical surveys. The work has defined approximately 5 km of combined prospective strike across the Eagle Nest, Red Breccia, and NSW Detachment corridors. Previous surface rock-chip sampling returned high-grade results, including up to 178 g/t gold and 18.30% copper at Red Breccia, and 91.6 g/t gold and 6.39% copper at Eagle Nest.

“Magnum's exploration-led strategy is focused on building shareholder value by advancing projects with significant discovery potential towards drill testing. Parker is a clear fit, supported by strong surface mineralisation and extensive technical work completed to date. We are pleased to have reached this BLM milestone and look forward to progressing Parker towards first-pass drilling in due course.”

— Antonio Vitor, Managing Director

Magnum intends to complete the required reclamation financial guarantee process and final drill preparations before conducting first-pass drilling subject to regulatory and operational requirements.

Read the full announcement: MAJOR MILESTONE ADVANCES PARKER PROJECT TOWARDS DRILLING