- Legacy Minerals (LGM) begins a reverse circulation (RC) drilling program at the Bauloora Project in New South Wales
- A rig has arrived on site with nine holes set to be drilled to test beneath the Bauloora Mine Prospect which has returned up to 3701g/t silver and 6.9g/t gold
- Once drilling is completed, follow-up down-hole electromagnetics will be conducted to define additional drill targets
- Additionally, a gradient array induced polarisation survey has been completed across the Bauloora North, Mee Mar and Bauloora East prospects with results expected in two weeks
- Legacy ends the day 6.25 per cent in the green with shares trading at 17 cents
Legacy Minerals (LGM) has begun a reverse circulation (RC) drilling program at the Bauloora Project in New South Wales.
A RC rig has arrived on site and will undertake a nine-hole drilling program, totalling 1500 metres, to test beneath the historical Bauloora Mine Prospect.
The mine has returned bonanza-grade silver with up to 3701 grams per tonne (g/t) silver intersected as well as 6.9g/t gold, 6.4 per cent copper and 55 per cent lead and zinc.
The prospect has strike of at least 400 metres and remains open along strike and at depth.
Once drilling is completed, follow-up down-hole electromagnetics (DHEM) will be conducted to define additional drill targets.
Additionally, a gradient array induced polarisation (GA-IP) survey has been completed across the Bauloora North, Mee Mar and Bauloora East prospects.
The Mee Mar Prospect has been mapped up to a width of five metres and a strike of more than two kilometres with rock samples returning up to 39.1g/t gold and 267g/t silver.
Interpretation of the results is expected over the next two weeks.
“As we begin to unlock this underexplored epithermal system, we are excited to see the potential for a significant discovery,” Managing Director Christopher Byrne said.
“Our strategy here is to systematically explore this large project. This involves geophysical work, including the recently completed large GA-IP survey, detailed magnetics, and soil geochemistry before additional drill testing.
“We eagerly await the completion of the RC drill campaign and the interpretation of the GA-IP so that we can update our shareholders over the coming weeks.”
Legacy has ended the day 6.25 per cent in the green with shares trading at 17 cents for a $12.02 million market cap.