Gold, base and battery metal explorer Legacy Minerals Holdings (ASX:LGM) reports it has identified 9 new ‘look-alike’ ‘high priority’ hydrothermal alteration anomalies following analysis of satellite data at its Bauloora Gold-Silver (Au-Ag) Project in New South Wales.
The results, generated by analysis of advanced spaceborne thermal emission (ASTER) data delivered by leading minerals and energy exploration consultancy, Global Ore Discovery, highlight the potential for a district scale hydrothermal alteration footprint to exist at the project.
It is also reported that hydrothermal alteration anomalies are believed to exist across an area of 150km-square within the exploration area, with 9 ‘high priority’ anomalies situated within the 15km-square ‘Gold Zone’ and a further 27 anomalies situated across the project tenement.
All of the newly identified anomalies are interpreted to be consistent with those of known Au-Ag bearing low and intermediate sulphidation epithermal mineral systems.
A total of 62 alteration anomalies have been identified to date.
Addressing the results, Legacy Minerals Holdings Technical Director, Thomas Wall said: “This is the first-time satellite data has been acquired and interpreted over Bauloora and we are greatly impressed with the results. Legacy Minerals’ has employed modern ‘smarter’ exploration techniques across its tenure to screen the whole project systematically for unidentified opportunities and to focus on the key targets, reducing time and expenditure.
“The results from the ASTER data have supported the interpretation of the Bauloora epithermal project’s potential to host ‘significant’ gold-silver epithermal deposits.”
The results from the ASTER data have supported the interpretation of the Bauloora epithermal project’s potential to host ‘significant’ gold-silver epithermal deposits. Nine new ‘look-alike’ alteration anomalies are interpreted to be consistent with those over known Au-Ag bearing low sulphidation epithermal veins mapped elsewhere at Bauloora within the 15km-square ‘Gold Zone’. The newly identified strong and coherent 48km-square propylitic signature situated in the centre of the 100% owned Legacy Minerals tenure, potentially demonstrates the effects of a large, buried magmatic system.
Legacy Minerals will focus on incorporating this data with the other geoscientific datasets including geochemistry and geophysics to build a detailed system model prior to further on-ground field reconnaissance work.”
The company also notes that these patterns indicate the potential for additional epithermal mineralised systems to also exist within its regional exploration licence.
In addition, an ‘extensive’ geochemical soil program is reportedly nearing completion across a number of these newly identified anomalies, with results expected to be received shortly.
It is believed that these results will feed into the company’s target ranking over the project tenement and will support in the prioritisation of reconnaissance of on-ground mapping.
Legacy Minerals Holdings is a gold, base and battery metal explorer that boasts a 100% interest in a total of 1056km-square of granted and unencumbered tenure in New South Wales’ Lachlan Fold Belt, with an additional 333km-square of exploration licences pending. The company’s Bauloora project is located within the Lachlan Fold Belt and covers a zone of about 27km-square that consists of veining and hydrothermal alteration typical of low sulphidation epithermal mineralisation. The project makes up part of the company’s NSW based wholly owned mining exploration portfolio that present ‘significant’ discovery opportunities for shareholders.
With results from the analysis of ASTER hydrothermal data now received, Legacy Minerals Holdings announces it remains focused on incorporating this data with other geoscientific datasets to aid in the construction of a detailed system model.
Images: Legacy Minerals Holdings Ltd
