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Legacy Minerals Holdings Ltd (ASX:LGM) has picked up mineralisation grading up to 468 grams per tonne (g/t) of silver (Ag), 3.8g/t of gold (Au) and 22% zinc-lead (Zn-Pb) at shallow levels through diamond drilling at its Bauloora project in New South Wales which it is exploring as part of a joint venture with Newmont.
These results – which were found at new prospects on-site – were taken from eight diamond drill holes for a total of 1,437.1 metres, and also indicated the presence of multiple vein trends which will become the focus of follow up drilling in the future.
The vein trends have been grouped according to three new areas of mineralisation: Moonlite, Ben Hall and Breakout.
Of these, Moonlight yielded multiple intercepts, included 4.1 metres at 5.0g/t gold equivalent (AuEq) from 149 metres (this comprising 0.61g/t Au, 17.5g/t Ag, 5.8% Zn, 4.3% Pb, 0.2% Cu); including 1 metre at 10.9g/t AuEq from 150m (1.2g/t Au, 44.8g/t Ag, 11.1% Zn, 11.8% Pb, 0.44% Cu); within 14.1m at 2.13g/t AuEq from 141m (0.25g/t Au, 8.1g/t Ag, 2.3% Zn, 2% Pb and 0.1% Cu.
At Ben Hall, Legacy picked up 24 metres at 0.5g/t Au from 70 metres including 13.4 metres at 0.7g/t Au from 70.6m, including 2 metres at 3.33g/t Au from 76 metres.
And at Breakout, intercepts included 4.3 metres at 3.2g/t AuEq from 106 metres (0.6g/t Au, 80.5g/t Ag, 2% Zn, 0.6% Pb, 0.3% Cu), including 0.6 metres at 10.8g/t AuEq from 107.9 metres (0.5g/t Au, 468g/t Ag, 6.0% Zn, 1.3% Pb, 0.64% Cu).
Legacy Minerals CEO and managing director Christopher Byrne said the shallow, high-grade results were another important step in defining solid mineralisation at Bauloora.
“The latest results have delivered shallow and high-grade hits up to 468g/t Ag, 22% Zn+Pb and 3.8g/t Au from wide-spaced reconnaissance drill testing,” he said.
“This is encouraging as we’re confirming multiple vein trends with strong mineralisation that until now had never before been drill tested.
“The success at these targets further highlights the potential of the large anomalous areas that remain undrilled and the potential of the Bauloora system that remains open in all
directions.”
Legacy Minerals’ shares rose on the news, and by 14:51 AEST, they were trading at 24 cents – a rise of 6.66% since the market opened.
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