Legacy Minerals (ASX:LGM) reports new ‘high-grade’ gold assays following a geochemistry campaign across its Bauloora low-sulphidation epithermal-style gold-silver project in New South Wales.
The results, generated by a total of 157 rock chip samples across new areas within the northern portion of the anomalous gold zone, demonstrate a widespread and expanding footprint of ‘high-grade’ gold and silver mineralisation, with results returning up to 32.3g/t Au, 464g/t Ag and, 1,810ppm Sb.
Speaking on the results, Legacy Minerals Managing Director Christopher Byrne said: “The Bauloora Project continues to exceed our expectations with multiple rock chips greater than half an ounce and new parallel gold veining discovered within the expanded 11.25km-square gold zone.
“The Bauloora Project continues to exceed our expectations”
Infill sampling has confirmed continuous gold mineralisation, in some instances for over 2km. These latest results demonstrate the widespread gold bearing potential of the system and highlight multiple undrilled target areas.
What makes Bauloora’s widespread gold and alteration footprint so significant is that when you compare this footprint with analogous low sulphidation epithermal systems of comparable size, those similar systems almost universally host major gold deposits.”
The company also notes that these recent results infill and extend the known areas of gold mineralisation with gold bearing veins grading >0.2g/t Au now defined across a 11.25km-square anomalous area.
In addition, Legacy Minerals adds that as part of ongoing field work, multiple new gold bearing vein trends are actively being identified by the field team and are expanding the previously interpreted extents of the system.
The Bauloora Project is located within the Central Lachlan Fold Belt in New South Wales, which is host to various world-class orebodies, including the Cadia-Ridgeway, Northparkes and Cowal Mines.
The project covers a total land area of about 27km-square and is host to hydrothermal alteration that is typical of low sulphidation epithermal mineralisation, as well as a number of prospects and a ‘high-grade’ base-metal carbonate Bauloora Mine deposit.
With the recent geochemical campaign now complete and initial results returned, Legacy Minerals announces plans to finalise and test the newly defined gold target zones in Q4, while it awaits the return of additional outstanding assays.
Images: Legacy Minerals Holdings Ltd
