Drilling Approval and New Targets at Mt Carrington Project
| Stock | Legacy Minerals Holdings Ltd (LGM.ASX) |
|---|---|
| Release Time | 25 Aug 2025, 9:49 a.m. |
| Price Sensitive | Yes |
Drilling Approval and New Targets at Mt Carrington Project
- Drilling approvals received for up to 9 holes and 4,500m of diamond drilling at the Battery Prospect
- Detailed airborne MT data review identifies compelling new targets, including porphyry and epithermal signatures
- Historical geophysics reprocessing highlights untested chargeability anomalies with potential for resource growth
Legacy Minerals Holdings Ltd (ASX: LGM) has received drilling approvals from the NSW Government for up to nine holes and 4,500m of diamond drilling at the gold and copper Battery Prospect within the Mt Carrington Project. This drilling will target untested areas and build on the extensive historical data, including over 100,000m of drilling and 4,000 drill holes across the wider project area. Previous drilling has delivered high-grade results, such as 12.82m at 48g/t Au and 2,589g/t Ag, and 18.9m at 5.8% Cu. A detailed review of new airborne MT data, completed by experts familiar with the technique, has identified several compelling new targets across the 298km2 project area. These include a 10km strike length conductivity anomaly interpreted as the eastern alteration segment of the Mt Carrington porphyry core, as well as distinct magnetic and conductive features associated with the Emu Creek Intrusive Complex, Battery Creek, Red Rock Intrusive, Mascotte Lineament, and White Rock Porphyry Halo. Additionally, reprocessing of historical IP data has highlighted untested chargeability anomalies that appear to be associated with known mineralization, presenting opportunities for resource growth. The company is well-funded to advance these exploration programs following a successful $7.75 million capital raise.
The company's exploration approach has three clear strategic goals: 1) test brownfield targets at depth and along strike of high-grade gold, silver, and copper zones to drive resource growth; 2) conduct discovery drilling for new epithermal-porphyry targets within the Drake Caldera; and 3) increase resource confidence by confirming historical drill results within existing Inferred Resources.