Legacy Minerals Holdings Limited (ASX: LGM) has received promising initial results from its geochemistry campaign across the Bauloora low- sulphidation epithermal-style gold-silver Project.
With Legacy Minerals focused on the Bauloora Project we continue to rapidly advance the system scale and prospectivity,” Managing Director, Christopher Byrne, said.
“These soil sampling results add to the growing body of evidence which supports our view of the widespread prospectivity for the Bauloora Project to host a significant low sulphidation epithermal-style gold-silver deposit.
“Every phase of exploration work is delivering strong results and strengthens our confidence in these targets and importantly, has defined a pipeline of high conviction drill-ready targets across the project area.
“The results very clearly define low sulphidation epithermal gold-silver targets at the Mee Mar, Thunderbolt, and Moonlite Prospects with many more drill ready targets now highlighted across the project. Also highlighted are significant anomalies that have never had any previous exploration work conducted across them.
“We are excited to be the first company to drill these targets with the knowledge we now have of their extent, widths and anomalism.”
Highlights
- The latest soil sampling results have mapped a vast (kilometre-scale) zone of anomalous geochemical values coincident with mapped alteration and low sulphidation epithermal- style system exhibiting strong associated metal content.
- The geochemistry signature of the Bauloora low sulphidation epithermal system exhibits well-defined Au-Ag-Sb-As-Pb-Cu-Zn-Bi-Mo-W anomalies.
- Soil sampling has identified multiple new low sulphidation epithermal‐style gold‐silver vein targets with the mineralising system open in all directions.
- The field evidence adjacent to many of these geochemical anomalies includes high-grade gold (up to 55.5g/t Au) and silver (up to 904g/t Ag) rock chip samples with quartz vein textures consistent with low sulphidation epithermal style mineralisation.
- Three low sulphidation epithermal gold-silver drill targets at the Mee Mar, Moonlite, and Mee Mar North prospects have been selected for the first phase ‘proof of concept’ drill campaign.
- These results are consistent with the previously reported exploration results with rock chip assays reporting a widespread gold and silver footprint across one of NSW’s largest low-sulphidation epithermal-style gold-silver systems within the Lachlan Fold Belt (LFB).
- World‐class mineral district ‐ the LFB is known to host world class epithermal deposits including Cowal (15Moz) and Bowden’s (275Moz Ag Eq).
Further Work Planned
- The newly defined gold target zones have not been drilled and will form part of the first phase, proof of concept drill campaign planned to start imminently.
