Join our daily newsletter At The Bell to receive exclusive market insights
Legacy Minerals (ASX:LGM) is ramping up exploration at its flagship Mt Carrington Project in New South Wales after securing government approvals for a major new drilling campaign targeting gold, silver and copper.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The approvals cover 8,000 metres of diamond drilling across the Mascotte and Emu prospects. The company is focusing on expanding recent discoveries and testing new high-priority targets across the broader project area.
The announcement marks a significant step forward for Legacy as it pushes ahead with its strategy of both growing the existing Mt Carrington resource and pursuing new discoveries that could add further value to the project.
At Mascotte, the upcoming drilling will follow up encouraging early gold and silver results from the company’s maiden drilling campaign, which identified new mineralised zones and highlighted potential for extensions at depth and along strike.
Elsewhere in Legacy’s plans, the Emu prospect will undergo its first major modern drilling program, targeting what Legacy believes could be a large-scale copper-gold system identified through recent geophysical work.
Management says the broader Mt Carrington caldera remains highly prospective, with historical mining pointing to significant untapped potential across multiple targets. Legacy’s CEO and managing director, Christopher Byrne, said the approvals represented an important milestone for exploration efforts.
“These new drilling approvals at Mascotte and Emu represent exciting discovery opportunities as part of our dual-track strategy of advancing development while continuing to explore for new deposits,” Byrne said today.
The company also noted optimisation work on the Mt Carrington scoping study is continuing, with management assessing ways to improve project economics and unlock additional value from areas outside the current study.
Drilling is expected to begin this month, with further assay results from the initial Mascotte program anticipated in coming weeks.
LGM last traded at 13c per share.
Join the discussion: See what HotCopper users are saying about Legacy Minerals Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
