Legacy Minerals Unveils Promising Porphyry Copper-Gold Target at Glenlogan

Geophysical Breakthrough at Glenlogan

Legacy Minerals Holdings Limited (ASX: LGM) has announced a significant advancement in its Glenlogan Project exploration, with its joint venture partner S2 Resources Ltd identifying a compelling porphyry copper-gold drill target. This follows a recently completed ground geophysical survey combining Tensor Induced Polarisation (TIP) and Magnetotelluric (MT) methods, which revealed a previously untested anomaly on the northeast flank of the main magnetic feature.

The anomaly is characterised by overlapping conductive, chargeable, and resistive zones situated on the shoulder of an Ordovician-aged alkaline gabbroic-diorite intrusion. This geophysical signature is consistent with the presence of porphyry-style mineralisation, a style known for hosting large copper-gold deposits.

Building on Encouraging Drilling Results

This new target lies northeast of a drill hole completed in mid-2024, which intersected 300 metres of increasing quartz-diorite porphyry dykes accompanied by hydrothermal alteration and disseminated pyrite to the end of the hole. The drill core also showed anomalous copper, gold, and pathfinder elements, alongside fine-grained chalcopyrite intergrown with propylitic alteration, hallmarks of a mineralised porphyry system.

Legacy Minerals’ CEO and Managing Director, Christopher Byrne, emphasised the significance of these findings: "The implication of this drilling is that we may be near a potentially mineralised porphyry intrusion, further supported by the recent geophysics. This target now provides a clear focus for future work, including a detailed dipole-dipole IP survey planned before drill testing."

Strategic Location and Experienced Partner

The Glenlogan Project is strategically located approximately 55 kilometres southwest of the globally significant Cadia-Ridgeway deposits within the Macquarie Arc, a prolific copper-gold province. The geophysical characteristics observed at Glenlogan bear resemblance to those documented at Cadia-Ridgeway and North Parkes, lending confidence to the exploration approach.

S2 Resources brings considerable expertise to the joint venture, having been involved in the discovery and development of world-class deposits such as the Thunderbox gold mine and the Nova nickel-copper mine. Under the farm-in agreement, S2 can earn up to a 70% interest in the project by investing $6 million over five years, with minimum drilling commitments ensuring sustained exploration momentum.

Next Steps and Market Implications

The identification of this new drill target marks a pivotal moment for Legacy Minerals and its shareholders. The planned detailed geophysical surveys and subsequent drilling will be critical in confirming the extent and grade of mineralisation. Success here could elevate Glenlogan’s profile significantly within the copper-gold exploration landscape.

Investors will be watching closely as Legacy Minerals and S2 Resources advance their work programs, potentially unlocking value in a region with proven mineral endowment.