Lady Julie Project

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Mine TypeOpen Pit
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotLady Julie Gold Project is one of the highest margins, undeveloped gold projects in Australia.

Magnetic propose to develop a gold mining operation incorporating the Lady Julie North 4 (LJN4), Lady Julie Central 9 (LJC) and Hawks Nest 9 (HN9) deposits.

Lady Julie Gold Project started with humble aspirations, and during the course of evaluation, turns rapidly into a large and compelling development opportunity. This transformation occurred in the second half of 2023 when deep drilling indicated that the Lady Julie ore zone extended deeper, and with higher grade than previously considered. This immediately had implications for the type of project to be planned.

There are no mining approvals currently in place. Mining lease application is in process.


Magnetic Resources NL 100 % Indirect
The Lady Julie Gold Project is 100% owned by Magnetic Resources NL.



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Deposit type

  • Breccia pipe / Stockwork
  • Porphyry
  • Vein / narrow vein


Magnetic propose to develop a gold mining operation incorporating the Lady Julie North 4 (LJN4), Lady Julie Central 9 (LJC) and Hawks Nest 9 (HN9) deposits.

Mineralisation at HN9 is interpreted to extend approximately 3km along strike and to be hosted within a north-northwest-trending shear with an inflection to south-southwest-trending to the South. Mineralisation is intermittently exposed along a series of old diggings some 2km in extent. The inferred shear zone transects a series of north–south to NNE–SSW-striking mafic-hosted porphyry dykes that dip at 20-25 degrees to the east-north east. Gold mineralisation frequently, but not exclusively, is along or proximal to the mafic–porphyry contacts.

Two mineralization styles have been observed: quartz veining and stockworking in felsic porphyries and shear-hosted quartz veins on porphyry-amphibolite contacts.

Lady Julie: Various shear-controlled mineralization styles including silicified and stockworked felsic porphyry, silicified and stockworked ultramafic, and breccia zones and silica-pyrite alteration mainly within carbonate.

Mineralisation at LJC, situated to the east of HN9, is also hosted along the contact between mafic volcanics and ultramafics. The deposit has a moderately southeast-plunging shoot-like geometry, generated via the intersection between multiple orientations of felsic–dacitic porphyries and shear zones.

Modelling of the lithologies across the Lady Julie area shows that porphyries intruding the mafic– ultramafic sequence are broadly north–south trending, with deviations to north-northwest trending. RC drilling data focused around LJC constrains the porphyries there as more diversely oriented. Here, some of the more planar porphyry bodies are locally n ortheast–southwest striking and dipping 60 degrees east.

The LJN4 deposit is situated in an area of deep weathering and extensive transported cover with no outcrop. Modelling of the lithologies intersected in drilling shows a footwall sequence of serpentinised ultramafics, in places sheared to talc–tremolite and chlorite–tremolite schists. This footwall sequence is overlain by sedimentary rocks comprising mostly carbonate and chert with minor carbonaceous and non-carbonaceous shale. Irregular lenses of ultramafic occur within the sediments. This whole sequence, which dips moderately (45-50°) to the east, is intruded by a series of felsic porphyry dykes, which also dip at various angles to the east.

Gold mineralisation at HN9 and LJC is broadly similar comprising structurally controlled quartz veining and shearing with minor pyrite along or adjacent to mafic–porphyry contacts but also including quartz stockworks within porphyry in places.

Mineralisation at LJN4 is quite different and comprises two main styles: a brittle domain in the southern part of the deposit consisting of quartz veining and breccias, strongly pyritic in places, within the chert, carbonate and porphyry. The breccias are mainly matrix-supported and range from polymictic to porphyry-only with a pyrite content ranging from disseminated to semi-massive.

The second style is more ductile in nature and is mainly confined to the ultramafic rocks in the northern part of the deposit, consisting of strongly silicified and bleached ultramafic with an irregular texture indicative of strong deformation and with only minor disseminated pyrite.

The breccias in the brittle domain form thicker, higher grade zones dipping moderately east and possibly plunging moderately north-northeast. They appear to crosscut all lithologies. The mineralisation in the ductile domain on the other hand forms a relatively consistent tabular moderately east-dipping structure. An additional mineralisation style consists of irregular pyritic stringer zones within massive carbonate rock. Further drilling is required to determine the extent and continuity of the carbonate-hosted mineralisation.

The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource. LJN4 exists as a series of shallow E dipping lenses with a strike length of 750m, thickness of 100m, and continuing from near surface to current depths below surface of 350m – it remains open at depth. LJC is similar but smaller with a strike length of 250m and final depth below surface of 150m. HN9 is generally a single shallow NE dipping structure with strike length of 1km, width of 10-30m and depth below surface of 100m.



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CommodityUnitsAvg. AnnualLOM
All production numbers are expressed as metal in doré.

Operational metrics

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* According to 2024 study.

Production Costs

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* According to 2024 study / presentation.

Operating Costs

OP mining costs ($/t milled) AUD 43 *  
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* According to 2024 study.

Project Costs

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OP OpEx $M AUD  ......  Subscribe
Processing OpEx $M AUD 362.5
G&A costs $M AUD 23.4
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Mine Management

Job TitleNamePhoneEmailProfileRef. Date
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