Legacy Minerals advances Mt Carrington resource with focus on silver and copper growth

WSP to Refresh Mt Carrington Mineral Resource Estimate

Legacy Minerals (ASX:LGM) has kicked off a significant update to its Mt Carrington Mineral Resource Estimate (MRE), appointing global consultancy WSP Global to incorporate fresh density data, drilling results, and revised assumptions from the recent Ausenco 2026 Scoping Study. This marks a pivotal step as the company aims to sharpen the project's resource profile, particularly targeting gains in silver ounces, copper tonnes, and the confidence level of the resource categories.

Resource Growth Since 2022 and New Drill Data

The current 2025 MRE already shows a sizeable leap from 2022 figures, with total tonnage up 80% to 34.4 million tonnes and indicated resources almost doubling to 11.4 million tonnes. Gold ounces have surged by 91%, reaching 652,500 ounces, while silver ounces edged up 5% to 24.3 million ounces. The update underway will fold in high-grade silver intercepts such as 26.5m at 220g/t Ag and 0.1g/t Au, plus copper hits including 18.9m at 5.8% Cu and 10.1m at 7.26% Cu, which were not previously accounted for.

Boosting Resource Confidence and Economic Assumptions

Beyond volume and grade, a key ambition is to elevate resource confidence by converting portions of Inferred Resources into the more assured Indicated category. This is supported by the integration of a comprehensive specific gravity dataset and a reassessment of geological and mineralisation models. Additionally, updated metal price assumptions and payability factors from the Ausenco study reflect a stronger market environment, potentially enhancing project economics.

Drilling Activity and Next Steps

Active drilling continues at the Emu Prospect, with assays expected within 4-6 weeks after completion. Following this, the rig will move to the Mascotte Prospect to follow up on recent promising discoveries. These campaigns are expected to further underpin resource growth and refinement. Meanwhile, a dipole-dipole induced polarisation survey is nearing completion, which could identify additional targets within the Mt Carrington caldera.

Setting the Stage for Scoping Study Optimisation

The updated MRE is slated for release within the next four weeks and will feed directly into the planned optimisation of the 2026 Scoping Study. Legacy Minerals’ CEO Christopher Byrne emphasised the importance of this update as a “momentum-shifting opportunity,” highlighting the clear mining and processing pathway recently defined and the potential to significantly improve baseline project metrics.