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”.