Legacy Minerals (ASX:LGM) has commenced drilling at the McMahons Reef prospect at the wholly owned Harden Gold Project in New South Wales, a program funded under the earn-in agreement with Hill Tops Gold.
Comprising an initial eight holes over 885m, the program will test beneath historical workings, targeting depth extensions of documented ‘high-grade’ drill intercepts at the McMahons Reef trend.
Drilling is expected to take six weeks for completion, with assay results expected in Q3 2026.
The company notes that historical production at Harden produced ‘high-grade’ drill intercepts, including 3.6m @ 21.7 grams per tonne gold from 115m and 5.8m @ 4.7g/t gold from 104m.
CEO and Managing Director Christopher Byrne says the commencement of drilling marks an important milestone for Legacy Minerals.
“The system has seen limited modern exploration and remains open along strike and at depth, presenting a compelling opportunity for discovery in a region with a strong history of high-grade gold production,” Byrne says.
The company will report results from the drilling at McMahons Reef as they become available. The results will then be reviewed to inform potential follow-up programs across the Harden Gold Project.
Meanwhile, Legacy Minerals retains full ownership of the Thomson Project, with Rio Tinto Exploration (RTX) deciding to not exercise its option for the earn-in agreement.
“Following Rio Tinto’s withdrawal from the Thomson Project, we now have a significant opportunity to reassess it with the benefit of new geological understanding gained alongside the Rio Tinto team,” Byrne says.
“While recent results downgraded the base-metal potential, significant untested precious-metal potential remains.”
The company notes that Thomson presents a “significant opportunity” to follow up on the intrusion-related gold prospect, which was not a priority for RTX.
Legacy Minerals has identified key targets, including a drill intercept of 370m @ 0.1g/t gold, in addition to other discovery opportunities.
Legacy Minerals is exploring for gold, silver, copper, and base metals projects in New South Wales, Australia.
Write to Amy Rotman at Mining.com.au
Images: Legacy Minerals
