Legacy Minerals (ASX:LGM) has launched a 10,000m platinum-copper-gold drilling campaign at the Fontenoy Project in New South Wales as part of its strategy to test high-priority conductive features defined from a recent airborne geophysical survey.
This news comes after a large and strike extensive airborne electromagnetic response was uncovered from processing and interpretation of versatile time-domain electromagnetic (VTEM) data has been prioritised for immediate drilling.
Earth AI engaged SRK Consulting to help interpret and analyse the data, which highlighted several conductive zones of interest. The zones are considered to be consistent with the suggested geological structural framework and system setting.
Legacy Minerals, which has a market capitalisation of $29.64 million, says Earth AI plans to follow-up some of these conductivity anomalies with 3D induced polarisation surveys to investigate the depth, extent, and applicability of the geological technique, as well as to refine further the exploration targets for drill testing.
CEO Christopher Byrne says the deposit type models to be tested include potential magmatic platinum group element and nickel-copper-sulphide accumulations, as well as structurally controlled copper-gold mineralisation.
“Encouragingly, platinum group element mineralisation intersected in the previous drilling completed by Earth AI has been observed to be coincident with increased conductivity responses,” Byrne says.
“These new datasets, in conjunction with historical induced polarisation, aeromagnetic, and surface geochemical survey data, have defined clear targets for follow-up, with drilling now underway.”
The Fontenoy Project is considered an emerging platinum-palladium discovery that contains numerous prospective units within the project area which include the Yandilla Volcanics, Warrenoy Diorite, and ultramafic rocks of the Wambidgee Serpentinite for copper-nickel and cobalt.
Legacy Minerals is a diversified mineral explorer focused on its 8,000km2 tenement package considered prospective for primarily gold, silver, and copper in New South Wales.
Write to Aaliyah Rogan at Mining.com.au
Images: Legacy Minerals
