Legacy Minerals (ASX:LGM) is assessing potential processing pathways likely to be considered for a stage two Scoping Study, following a metallurgical bridging study for the Mt Carrington Project in New South Wales.
Engineering firm Ausenco has been engaged to undertake the study which will be fed into the Scoping Study, which is expected to be completed by Q4 2025.
Legacy, which has a market capitalisation of $26.87 million, says the Scoping Study will assess the full 1.2 million ounce gold-equivalent and will increase confidence in the viability of the project, as well as highlight the value in exploration opportunities.
This news comes after Legacy delivered a stage one Scoping Study in Q2 2025 and a resource estimate, which demonstrated robust economics and provided valuable insight to help drive the potential resource growth.
Mt Carrington’s stage one study outlined a net present value of $388 million with an internal rate of return of 141%. The study also highlighted the project to have a 5.5 year mine life, producing 172,600 ounces of gold at an all-in sustaining cost of $1,726 per ounce.
CEO Christopher Byrne says coupled with ongoing exploration work, the team is moving quickly to build on the resource estimate and the stage one Scoping Study.
“We are optimistic about the upside potential that an optimised processing pathway may show, especially since the stage two Scoping Study will assess the full 1.2 million ounces of gold-equivalent resources, approximately 1 million ounces more than included in the stage one Scoping Study,” Byrne says.
Legacy is also conducting discovery drilling to explore new greenfield epithermal-porphyry discoveries within the project area. A resource extension assessment is also being undertaken to test the brownfield targets at depth and along strike of gold, copper, and silver zones.
The Mt Carrington Project, covering 390km2, encompasses substantial infrastructure on the granted exploration licences. The project has a combined resource of 34 million tonnes, containing 1.2 million ounces of gold-equivalent metal.
Write to Aaliyah Rogan at Mining.com.au
Images: Legacy Minerals
