Legacy Minerals (ASX:LGM) reports the presence of a 15km-square footprint of Au mineralisation following a geochemistry campaign at its Bauloora low-sulphidation epithermal-style gold-silver (Au-Ag) Project in New South Wales (NSW).
The results, generated by over 1,000 rock chip samples taken from across the known epithermal vein field as part of a gradient array induced polarisation (GA-IP) survey, have identified numerous areas of interest and reinforce historic mapping of the quartz veins.
Results have also returned the highest grade Au result to date at 55.5g/t Au, as well as other peak grades including 904g/t Ag and 1,140ppm antimony (Sb).
These grades further highlight the potential and extensiveness of the epithermal vein trends across the project tenement, which remain open in all directions.
Speaking on the results, Legacy Minerals Managing Director, Christopher Byrne said: “Legacy Minerals’ focus on a systematic approach to exploration across the project continues to deliver excellent results and the discovery of new ‘high-grade’ gold bearing veins is testament to this approach.
The results further confirm the low-sulphidation epithermal style gold-silver system at Bauloora is large and well preserved with all the hallmarks of one capable of hosting a major gold deposit.
“The results further confirm the low-sulphidation epithermal style gold-silver system at Bauloora is large and well preserved with all the hallmarks of one capable of hosting a major gold deposit”
In addition, the quartz vein textures and pathfinder element assemblages indicate we are at the top of a low-sulphidation epithermal system with the potential to increase in width and grade with depth. There has been no drilling at any of these newly defined veins and we are looking forward to incorporating this new information, and the data from the soil sampling, into our drill target planning that’s underway.”
The gold, base and battery metals explorer also notes a recent petrography of the project has confirmed sinter related lithology extends across the anomalous Au area and, in conjunction with elevated levels of Sb mineralisation, indicates the potential for ‘high-grade’ Au to exist at depth.
In addition, it is believed that the veins hosted on the Bauloora project present an ‘excellent’ opportunity for the discovery of shallow Au mineralisation.
Legacy Minerals is an publicly listed ASX company that has been involved in the acquisition and exploration of Au, copper (Cu) and base metal projects in NSW’s Lachlan Fold Belt since 2017.
The company’s Bauloora project is located within this prospective tenure and covers a total land area of about 27km-square, which is considered prospective for low sulphidation epithermal mineralisation. This tenement represents 1 of 6 wholly owned and unencumbered tenements included within the company’s portfolio.
With the large-scale geochemical survey now complete, Legacy Minerals announces that this new data will be incorporated into its assessment of drill targets ahead of its scheduled drilling campaign.
Images: Legacy Minerals Ltd & iStock
