Magma Metals announced that it intends to spin-out its West Australian gold projects in a new gold focused exploration company, to be named Greenstone Metals subject to completion of commercial and legal agreements and relevant approvals.
Magma Metals announced drill results at its Griffins Find project, Western Australia. Also, the Company has applied for exploration licences covering an area of approximately 7,000km2, to be called the Lake Grace gold project, to the north and south of the Griffins Find gold project.
Magma Metals advised that an auger geochemical soil survey has mapped a large gold anomaly at the Griffins Find project, 320km southeast of Perth in Western Australia. The anomaly is 3 km by 1 km in size when contoured at a level greater than 100 parts per billion gold (equivalent to 0.1g/t gold).
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