Legacy Minerals Reports 52m at 0.15% Copper and High-Grade Silver Zones

Drilling Momentum at Mt Carrington

Legacy Minerals Holdings Limited (ASX – LGM) has provided a detailed update on its exploration progress at the Mt Carrington Project in New South Wales, reinforcing the prospectivity of this multi-metal district. The company is actively drilling at two key prospects – Mascotte, focused on silver and gold, and Battery, targeting copper mineralisation.

At Mascotte, the second hole of an eight-hole diamond drilling program is underway, aiming to test a 1.3-kilometre strike of historical workings that previously yielded impressive silver grades. The initial hole intersected wide zones of fine-grained sulphides within quartz veins and breccia, reminiscent of textures seen at White Rock, a nearby deposit with an 18 million ounce silver equivalent resource. Importantly, the current drilling includes assays for gold, which were absent in earlier campaigns, with recent surface sampling revealing rock chips grading up to 11.2 grams per tonne gold alongside 222 grams per tonne silver.

Encouraging Copper Results at Battery Prospect

Meanwhile, first-pass drilling at the Battery Prospect has intercepted broad zones of copper mineralisation associated with sheeted quartz-pyrrhotite-chalcopyrite veins. The standout intercept includes 52 metres at 0.15% copper within a broader 95-metre interval averaging 0.13% copper from 114 metres depth. These results are particularly significant given the drilling is approximately seven kilometres from other high-grade copper intercepts in the district, such as 18.9 metres at 5.8% copper and 10.1 metres at 7.26% copper. Legacy Minerals is conducting a technical review to refine follow-up drilling targets and assess untested copper-in-soil anomalies extending north and southeast of the current drilling.

Strategic Outlook and Financial Position

The company is well funded with $10 million in cash as of late January 2026, positioning it to advance both discovery and development activities at Mt Carrington. A scoping study, incorporating updated metal price assumptions and concentrate payabilities, is scheduled for release in early March 2026. This study will provide a clearer picture of the project’s economic potential amid current gold and silver market conditions.

Legacy Minerals’ CEO Christopher Byrne expressed optimism about the widespread mineralisation across the project, highlighting the potential for delineating higher-grade zones of copper and the ongoing silver-gold drilling at Mascotte. The integration of historical data with new drilling results continues to enhance the understanding of the district’s mineral systems, supporting the company’s exploration strategy.

Looking Ahead

With drilling progressing and assay results expected to commence in the first quarter of 2026, investors and analysts will be watching closely for confirmation of the early encouraging signs. The upcoming scoping study will be a pivotal milestone, potentially setting the stage for further resource definition and development decisions.