Legacy Minerals (ASX:LGM) has secured two grants, totalling $53,000, under the New South Wales Government’s Critical Minerals & High-Tech Metals Exploration Program for work at the Thomson and Rockley projects.
The grant provides matched funding which delivers non-dilutionary co-investment with Legacy Minerals to help find the next major critical minerals project.
At Thomson, the grant will be used to conduct geochemistry work, while geophysics will be carried out at Rockley.
CEO Christopher Byrne says the government support is timely and underscores the strategic priority placed by New South Wales on advancing the exploration of minerals.
“The grant enhances our ability to progress non-core assets within our portfolio, and is a strong vote of confidence in our strategy and the jurisdiction in which we operate,” Byrne says.
The Thompson Project represents a tenement holding in one of the most unexplored geological terrains in Australia. Thomson shares similar characteristics with other major intrusion-related copper-gold districts such as the Paterson Province in Western Australia.
The Rockley Project, situated within the Ordovician Macquarie Arc volcanics, is prospective for porphyry-related copper-gold mineralisation.
Legacy Minerals is a junior mineral explorer focused on gold, copper, and base metals across New South Wales.
New South Wales Critical Minerals & High-Tech Exploration Program is a key initiative of the state government’s critical minerals strategy. The program aims to encourage more exploration in the state by investing $2.5 million over the next two years to fund applicants to conduct drilling, geophysics, and geochemistry.
Write to Aaliyah Rogan at Mining.com.au
Images: Legacy Minerals
