Legacy Minerals’ Mt Carrington Drilling Targets Historic Copper-Gold and Untested Gold Zones

High-Grade Gold Confirmed at Mascotte

Legacy Minerals Holdings Limited (ASX, LGM) has reported compelling new exploration results from its Mt Carrington Project in New South Wales, confirming high-grade gold and silver mineralisation at the Mascotte prospect. Recent rock chip sampling returned assays including 11.2 grams per tonne (g/t) gold, 42.6 g/t silver, and notable base metals such as zinc and copper. These results extend the known mineralised trend and highlight the prospect’s potential beyond historical focus.

Historical drilling at Mascotte, conducted between 1969 and 1970, targeted silver mineralisation and was shallow; less than 70 metres deep; with no assays for gold. The best historical intercepts included 18.3 metres at 237 g/t silver, underscoring the prospect’s rich silver endowment. Legacy Minerals’ new data suggest that gold mineralisation remains open at depth and along strike, presenting a fresh opportunity to expand the resource base.

Drilling Commences at Battery Prospect

In parallel, Legacy Minerals has commenced diamond core drilling at the Battery prospect, marking the first drilling activity there since the early 1990s. The Battery prospect is interpreted as a porphyry copper-gold target with associated breccia zones, identified by previous exploration conducted by CRA (now Rio Tinto). The current drilling campaign aims to test these targets with up to eight holes and 4,000 metres of drilling approved by the NSW Government.

The Battery area is characterised by a distinct magnetic anomaly and a 3.4-kilometre volcanic centre, indicative of an intrusive system that could host significant mineralisation. Soil geochemical surveys have delineated extensive zones of elevated copper, arsenic, and gold, guiding the initial drill targets. This work complements ongoing scoping studies and metallurgical assessments at Mt Carrington.

A Project with Established Resources and Exploration Upside

The Mt Carrington Project already contains a substantial mineral resource, with approximately 24 million ounces of silver and 1.2 million ounces of gold equivalent. The mineralisation style is primarily low sulphidation epithermal veins and breccias hosted within Permian volcanic rocks. Legacy Minerals’ systematic soil and rock chip sampling programs have identified multiple geochemical anomalies across the project, supporting the potential for further discoveries beyond Mascotte and Battery.

CEO Christopher Byrne emphasised the significance of these developments, "Our drilling at Battery is the first follow-up to historic copper targets identified over 30 years ago, presenting a compelling discovery opportunity. At Mascotte, recent assays confirm high-grade gold potential along a mineralised trend that remains open at depth. These programs are integral to our broader regional exploration strategy and ongoing scoping study work."

Legacy Minerals’ exploration approach combines modern geochemical techniques with historical data, aiming to unlock value from underexplored targets within a well-endowed mineral district. The company plans to continue drilling at Mascotte, Battery, and other prospects such as Emu over the coming months, with assay results and further updates anticipated.