Legacy Minerals Holdings (ASX: LGM) has commenced diamond drilling at the Fontenoy Project in NSW with two initial holes planned for 1,300m funded under the under the Earth AI Exploration Alliance.
“We are very pleased to have a rig now spinning at the Fontenoy Project with our Alliance Partner Earth AI. The discovery of magmatic PGE-Ni-Cu mineralisation using artificial intelligence earlier this year was a breakthrough for the Fontenoy Project, with follow-up work in the form of a detailed gravity survey and soil and rock chip sampling delivering strong targets for drill testing," CEO and Managing Director, Christopher Byrne, said.
“The drilling will target newly identified zones of anomalous PGEs-in-soils, which have never been drilled. These targets are also supported by coincident density highs that are thought to reflect potential PGE-bearing lithology.
“Legacy Minerals looks forward to seeing the outcomes of this drilling, which has the potential to deliver significant value for shareholders. In parallel with this work, the Leacy Minerals’ field team continues to complete generative targeting work across our portfolio and is also preparing the Drake field office and site sheds for field work programmes anticipated to commence later this year.”
Drilling is anticipated to take two months.
The drilling is targeting magmatic-related PGEs (platinum group elements)-Ni-Cu (nickel-copper) mineralisation at new, undrilled prospects.
These new prospects are 800m away from the first pass drilling completed in January 2024 which returned strong PGE mineralisation including 32m at 0.5g/t 3E PGE (Pt+Pd+Au) from 386m including 10m at 1.2 g/t 3E PGE,0.2% Ni and 891 ppm Cu from 388m down-hole
