Magnum Mining Refocuses on Critical Minerals with US Asset Review

Magnum Mining & Exploration Limited (ASX: MGU) has completed an initial review of its US asset portfolio, aligning its strategy with the rising global demand for rare earth elements (REEs) and critical minerals. The Parker Gold Project in Arizona, situated near the Walker Lane Trend, has shown bonanza-grade surface samples including 83.87 g/t gold, 359 g/t silver, 8.37% copper, and 16.1% lead, alongside potential REE prospectivity linked to iron oxide copper gold (IOCG) systems. At the Buena Vista Iron Project in Nevada, multispectral satellite data and reconnaissance sampling identified anomalous gallium, lithium, scandium, and neodymium oxide, pointing to strong REE potential. Magnum intends to conduct detailed geochemical and geophysical surveys to define drill targets. Management emphasized this strategy leverages both safe-haven gold and critical supply chain independence, positioning the company to capitalize on Western governments’ prioritization of REE and strategic minerals.

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