Mt Magnet is a world class mining district and has been held by major resources companies such as Western Mining corporation and Harmony Gold as well as successful mid tier companies such as Ramelius Resource and Hill 50 Gold. A list of the major holders of Mt Magnet is listed below.
- Hill 50 Gold Mines N.L 1934 – 1974
- Western Mining Corporation 1974 – 1997
- Hill 50 Gold 1997 – 2002
- Harmony Gold 2002 – 2007
- Monarch Gold 2007 – 2008
- Harmony Gold 2008 – 2010
- Ramelius Resources 2010 – Present
As such, the Mount Magnet region has an extensive drilling history with upwards of 8000 holes being present within a 20km radius of the township. The sphere of influence of this drilling has gradually expanded from an intense drill campaign in the 1980’s around well known Mt Magnet operations, then an expansion of exploration to the south-east to proximal satellite operations in the late 1990’s and early 2000’s and further south and east in the 2010’s.
However, the Range Project which stands directly in the path of this expanding exploration ‘wave front’ has been held in private prospector hands for decades has had little modern exploration and little to no drilling.