Legacy Minerals Holdings (ASX: LGM) has a number of activities underway or about to kick off across the company's tenement portfolio in NSW.
“Legacy Minerals has an exciting year ahead, with exploration momentum continuing on several fronts. The Drake and Thomson Projects are seeing some of the largest geophysical surveys being conducted currently in NSW," CEO and Managing Director, Christopher Byrne, said.
"The company is also working towards key upcoming programs of work which include drilling at Thomson and an updated mineral resource estimate at Drake in February.
"The multi-faceted acquisition of key geochemical, geophysical, and geological data sets will further enhance these project's significant geological information that we have already collected. The patient and systematic approach in collecting these datasets is essential to being able to define the best possible drill targets for the planned upcoming campaigns.
"Furthermore, our JV partners continue to diligently advance the Bauloora, Glenlogan, and Fontenoy Projects. A number of planned activities are to commence shortly, as well as diamond drilling assays pending from Bauloora and Fontenoy and a large-scale geophysical survey underway at Glenlogan.”
Drake Project
Mineral Resource Estimate Update
Legacy has engaged Mining Plusto update the historical JORC 2004 and 2012 MRE reported by previous exploration companies across the Drake Project. These historical estimates were completed at times of lower commodity and precious metal prices and in some instances where later drilling has since been completed by explorers. The estimates will look to at the inclusion of the copper, zinc and lead in the mineral resource estimates where appropriate.
The company expects results to be available in mid-February.
Airborne Mobile MT
The Company has engaged Expert Geophysics Limited to complete an Airborne MT survey over the Drake Project Exploration Licences. The survey will cover approximately 279 km2 with a flight line spacing of 200m.
The objective of the survey is to provide electrical resistivity imaging to a depth of 1km and Very Low Frequency Electromagnetic (VLF) data providing near surface electromagnetic (EM) data which will help in defining geological structures related to gold, silver and base metal mineralisation.
These results will enhance the existing extensive database of technical information including airborne and ground geophysics, geochemistry, historical drilling results and geology. Interpretation of the database is expected to generate new targets that will require a follow up field exploration program of geological mapping, sampling and drill testing. Airborne MT resistivity data will be modelled to help provide a more accurate guide to depth and location of drill targets.
The survey is expected to be completed in early February with data processing and interpretation updates expected to be available within six weeks.
Antimony Ground-Truthing
Recently acquired LiDAR interpretation has identified 3,367 historical mining features. Of these the initial focus will be on increasing the company’s understanding of the Lunatic Antimony Field, in particular vein strike extents and the potential for high grade antimony (Sb) and gold.
