Legacy Minerals (ASX:LGM) has completed its maiden eight-hole drilling program at the Emu copper-gold prospect within its Mt Carrington Project in New South Wales.
The company has also commenced phase two drilling at the Mascotte silver-gold prospect, with an updated mineral resource estimate (MRE) nearing completion.
Legacy finished the 1,600m diamond drilling program at Emu, providing the first modern drill test of the prospect in around 50 years. The company has logged and submitted samples, with results expected in six to eight weeks.
Mobilisation of the drill rig to the Mascotte prospect is now underway for an initial 10-hole phase two diamond program totalling approximately 2,000m. Additional drill pads have been approved, providing flexibility to extend the program if warranted.
CEO Christopher Byrne says Legacy is “reaching an inflection point at Mt Carrington”.
“It is an active period across the project on multiple fronts as we continue to build value within this historic mining district,” Byrne adds.
Emu lies on a regional caldera-margin trend within the Mt Carrington Project, approximately 8km north of Drake.
The completed program comprised eight diamond holes across five drill pads, testing two targets defined by an airborne survey: the Emu Porphyry Core and the Emu Alteration Halo SE.
Phase two at Mascotte steps out from the maiden phase one program and targets extensions of previously reported intercepts. These intercepts include 40m @ 1 gram per tonne gold from 151m and a historical intercept of 18.3m @ 237g/t silver from 3m.
Legacy has also completed its first dipole-dipole induced-polarisation ground geophysical survey over the Mascotte and Battery prospects.
This survey included three priority lines to detect disseminated sulphide and silicification at depth that may indicate buried epithermal gold-silver zones and porphyry copper systems.
The updated Mt Carrington MRE is in its final stages and expected shortly. It incorporates specific gravity density datasets, drilling results not previously incorporated, and revised metal payability assumptions informed by the 2026 Ausenco Scoping Study.
The current 2025 MRE, containing 1.2 million ounces gold equivalent (AuEq) and 1.1g/t AuEq, provides a baseline for the updated MRE that will assess new silver and copper dominant zones and resource confidence categories through increased drilling data.
Legacy Minerals is a New South Wales-focused explorer advancing a portfolio of gold, copper, silver, and base metal projects across the Lachlan and New England fold belts.
Write to JC Villarba at Mining.com.au
Images: Legacy Minerals
