PERTH: Magmatic Resources Limited has announced the appointment of New South Wales Porphyry Gold-Copper specialist Peter Duerden as Managing Director effective from 3rd February 2020.
Following Duerden’s commencement as Managing Director, David Richardson will assume the role of Executive Chairman and current Chairman, David Berrie will move to Non-Executive Director. To maintain the appropriate board size, current Non-Executive Director Malcolm Norris has agreed to step down from the Board effective from 3rd February 2020.
Magmatic has entered a new phase at its East Lachlan Gold and Porphyry Gold-Copper projects, and Duerden’s technical and management experience in exploration in the East Lachlan Belt will greatly enhance the Company’s capabilities.
Magmatic’s current Managing Director, David Richardson, who will move to Executive Chairman once Duerden joins the company in early February, said, “Peter is considered an expert on East Lachlan Porphyry Gold-Copper systems having previously been district manager, NSW for Newcrest Mining and in charge of Alkane Resources’ North Molong Belt Alkalic Porphyry Gold-Copper exploration for 10 years. Peter’s region defining work at Alkane contributed significantly to the recent Boda Porphyry Gold-Copper discovery and we are delighted to have him join the Company. We look forward to the addition of Peter’s skills, in a very exciting period in the Company’s evolution as we progress our East Lachlan projects.”
Peter Duerden said “I am excited to be joining Magmatic at this stage in its East Lachlan exploration strategy. The recent Boda porphyry gold-copper discovery only 2kms from the Company’s tenure in the northern Molong Belt has highlighted the excellent potential for new Tier 1 discoveries in the East Lachlan”.