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Legacy Minerals Ltd (ASX:LGM) has reported assay results from drilling at its Fontenoy project in New South Wales, which have shown continued growth in palladium-platinum mineralisation – and the potential for this to extend over several kilometres.
A second phase of drilling at Fontenoy confirmed the presence of a large mineralised system, with drilling at one hole (EFO10D) returning the best results when it came to gold, palladium, and platinum (3PGE).
This included 360 metres at 0.12 grams per tonne (g/t) 3PGE from 0m (no cut-off grade), including 200 metres at 0.15g/t 3E PGE from 0 metres (no cut-off grade), 14 metres at 0.35g/t 3E PGE from 72 metres, 22 metres at 0.29g/t 3E PGE from 116 metres, and 28 metres at 0.16g/t 3E PGE from 142 metres.
Also significant was the fact these assays were taken from an area only one kilometre away from a previous drill hole which returned 120 metres at 0.30g/t 3E PGE (no cut-off grade) from 298 metres, including 10 metres at 1.2g/t 3E PGE from 388 metres.
The recent results have extended the width of the known PGE-bearing mineral system footprint to around two square kilometres, with this boosting the potential for exploration within this wider area.
CEO and managing director Christopher Byrne said Fontenoy was revealing its potential consistently through exploration work.
“Legacy Minerals is pleased to see the results of the great work completed to date by Earth AI in unpacking the palladium, platinum, gold and copper potential of the Fontenoy Project,” he said.
“The latest results build Earth AI’s confidence in the continuity, scale and overall potential of this mineralised system.
“The known mineralised footprint is now 2km2 in size and has geochemical and geophysical indicators that suggest strong potential for this to further grow and potentially host higher
grade zones similar to those identified in the last round of drilling.”
At 12:40 AEDT, Legacy shares were trading at 19 cents – a rise of 8.57% since the market opened.
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