Magma Metals Limited: Quarterly Report

Magma Metals Limited (TSX:MMW,ASX:MMW) reports on its activities and cash flow report for the quarter ended June 30, 2011.

The press release is quoted as saying,

Thunder Bay North Platinum-Palladium-Copper-Nickel Project

An initial approximately 14,000m drilling program is in progress to evaluate the potential for resource extensions within a strike length of 600m, immediately southeast of the mineral resource in the Beaver Lake area. Initial results are encouraging and confirm the potential for significant extensions to the mineral resource to the southeast. An east-west trending zone of sulphide mineralization is being defined by the drilling, which is associated with a linear depression in the floor of the intrusion. The drilling program will be expanded beyond the planned 14,000m to track the sulphide mineralized trend further to the east

For the complete press release, click here.