Legacy Minerals (ASX:LGM) has confirmed a new gold discovery at the Mt Carrington Project in New South Wales from final assays returned from a maiden diamond drilling program at the Mascotte prospect.
The company has now received all assays from the eight-hole diamond drilling campaign, spanning 1,841m at Mascotte.
Key intercepts include 40m @ 1 gram per tonne gold from 151m, including 9m @ 2.7g/t gold; 57m @ 0.3g/t gold from 81m, including 8m @ 1.3g/t gold from 129m, including 1m @ 8.1g/t gold from 131m; and 1m @ 9.7g/t gold from 167m.
Legacy says gold intercepts confirm the continuity of a discovery made in the first hole of drilling.
The company has also returned 1m @ 18.7% lead, 8.7% zinc, and 43g/t silver, which Legacy says confirms the potential of discovering ‘high-grade’ base metal and silver mineralisation.
This campaign confirms a coherent gold-silver epithermal mineralised system at the Mascotte trend, which extends 1.3km. The mineralised system remains open along strike to the northeast and southwest, and at depth.
Legacy says the drilling was conducted outside the existing resource area, with potential to expand the current resource estimate.
Preparations for drilling at the Emu prospect are underway to target copper-gold mineralisation near a historically producing mine in the Mt Carrington district.
Legacy is also conducting ground geophysics and planning for follow-up drilling at Mascotte, which will target ‘higher-grade’ gold, base metal, and silver zones.
CEO and Managing Director Christopher Byrne says the final assay results from maiden drilling have “confirmed what the first hole suggested” — a new gold-silver discovery.
“The implications are significant as these results show a coherent epithermal system extending over the 1.3km Mascotte trend and sitting entirely outside the existing… mineral resource estimate at Mt Carrington,” Byrne says.
“The breadth and grade of these results are highly encouraging. Further gold intercepts… demonstrate both the gold and polymetallic potential of this system.
“Because every hole lies outside the current resource estimate, these results present a clear opportunity to increase the mineral resource estimation.”
Legacy Minerals is an exploration company focused on advancing gold, silver, copper, and base metals projects in New South Wales.
Write to Maddison Elliott at Mining.com.au
Images: Legacy Minerals
