Legacy Minerals (ASX:LGM) has confirmed ‘high-grade’ gold mineralisation at its Mascotte prospect within the Mt Carrington Project in northern New South Wales, with new rock-chip assays returning up to 11.2 grams per tonne gold and 222g/t silver.
The results according to Legacy, strengthen the project’s epithermal gold-silver potential and coincide with the start of diamond drilling at the nearby Battery prospect, testing porphyry-related copper-gold and breccia targets first outlined by CRA Exploration (now Rio Tinto) in the early 1990s.
Legacy has received approval for up to eight diamond holes totalling 4,000m at Mascotte, the first modern campaign since limited shallow drilling in 1969-70 intersected 18.3m at 237 g/t silver, including 9.1m at 394 g/t silver, but was never assayed for gold.
CEO Christopher Byrne said the new programs mark the first regional drilling across Mt Carrington in decades and present “a compelling discovery opportunity”.
“At Mascotte, recent rock-chip assays confirm the potential for high-grade gold across the known mineralised trend,” Byrne said.
“Meanwhile, drilling at Battery will target porphyry and breccia-hosted copper-gold systems that have never been properly tested.”
Soil geochemical surveys across both prospects have outlined extensive gold-silver-copper-arsenic anomalies, consistent with low-sulphidation epithermal and porphyry-style systems.
The Mt Carrington Project hosts a 1.2 million-ounce gold-equivalent resource, including 24 million ounces of contained silver, and forms part of Legacy’s pipeline of copper-gold and precious-metal assets across New South Wales.
The company said the current drilling is being conducted in parallel with a Scoping Study on Mt Carrington, with results expected to guide further work at Mascotte, Battery and the nearby Emu prospects.
Write to Dan Petrie at Mining.com.au
Images: Legacy
