Legacy Minerals (ASX:LGM) is drilling newly defined chargeability targets at the Mascotte prospect within its Mt Carrington Gold-Silver Project, near Drake in northern New South Wales.
Ground-based induced polarisation surveys identified several large anomalies beside known gold-silver mineralisation but outside the project’s existing mineral resource, which contains 1.6 million ounces of gold equivalent.
Mt Carrington comprises three exploration licences and one assessment lease covering a caldera system prospective for low-sulphidation mineralisation.
The strongest anomalies exceed 30 millivolts per volt, with three-dimensional modelling indicating they extend across at least 300m of strike and remain open to the northeast and southwest.
Legacy says none of the chargeability highs have been tested by previous drilling. Several are read as ‘blind’ because they do not reach the surface and, therefore, cannot be detected through surface sampling.
The largest anomaly has a modelled core about 100–120m below surface, while a smaller southern zone is centred around 60–80m deep. The company interprets the anomalies as potential sulphide-bearing structures along the edges of a northeast-trending resistive corridor.
Previous drilling into nearby Mascotte mineralisation returned 40m @ 1 gram per tonne gold (Au) from 151m, including 9m @ 2.7g/t Au, in hole MSDD001.
CEO and Managing Director Christopher Byrne says the anomalies provide Legacy with targets immediately beside known mineralisation.
“This new geophysical survey at Mascotte has delivered exactly what we were hoping to see: several large, strong chargeability targets sitting right alongside gold-silver mineralisation we have already intersected yet have never been drill tested,” Byrne notes.
Drilling is underway at Mascotte, with the chargeability anomalies included in Legacy’s approved program to test new targets and extend known mineralisation along strike and at depth.
Fender Geophysics completed the field surveys, while Mitre Geophysics processed the data and produced the two-dimensional and three-dimensional inversion models.
Legacy Minerals is an Australia-based exploration company focusing on gold, copper, and base metal projects in New South Wales.
Write to France Pinzon at Mining.com.au
Images: Legacy Minerals
