Legacy Minerals (ASX:LGM) has provided an update on its ongoing drill program at the Mt Carrington Project in New South Wales, with a focus across two key prospects.
At the Battery prospect, wide zones of copper mineralisation associated with sheeted quartz-pyrrhotite-chalcopyrite veining have been observed in first-pass drilling.
Early results show copper mineralisation was intercepted at 52m @ 0.15% copper from 142m within 95m @ 0.13% copper (no cut off) from114m.
These results confirm the prospectivity for a large-scale copper deposit at the Battery prospect as well as the scale of copper mineralisation across Mt Carrington.
Battery is approximately 7km away from other copper drilling results that include 18.9m @ 5.8% copper from 58m and 10.1m @ 7.26% copper from 88m.
The company is engaging in a technical review now to assess follow-up drill testing locations and the untested copper-in-soil anomalies that remain open to the north and southeast.
Managing Director Christopher Byrne says that the widespread copper mineralisation from these results are encouraging for Legacy Minerals.
“The technical team is assessing the results and their potential to vector towards thicker, high-grade copper mineralisation at the Battery Prospect and across the district.”
The Mascotte silver-gold prospect is now on hole two of eight, for a planned 4,000m of diamond drilling. The first drill hole was targeting below the historic results from drilling in the 1970s and has intersected wide zones of very fine-grained sulphide within quartz veins and breccia.
Drilling at Mascotte is assessing the gold-silver potential along the 1.3km strike of the prospect, as historical drilling did not assay for gold.
Byrne says that drilling at Mascotte is progressing well and drilling so far has “intersected zones of very fine-grained sulphide mineralisation within veins and breccia, similar in character to mineralisation observed at the White Rock deposits (18 million ounces silver equivalent), part of the significant Mt Carrington 115 million ounce silver equivalent resource”.
“In parallel with this discovery-focused drilling, the scoping study is now expected in early March 2026, following a review of metal price assumptions and gold-silver concentrate payabilities. With the current silver and gold prices, we look forward to updating shareholders on progress across the project.”
The scoping study has been pushed an extra two weeks in order to give the team time to review the technical aspects of the study, including the impact of the metals prices.
Legacy Minerals also notes that the company has $10 million cash on hand as of the end of January 2026 and is well placed to advance development at Mt Carrington.
Legacy Minerals is exploring for gold, silver, copper, and base metals projects in New South Wales, with a focus on discovery drilling and development of the Mt Carrington Project.
Write to Amy Rotman at Mining.com.au
Images: Legacy Minerals
