Legacy Minerals Uncovers Large Untested Gold-Silver Targets at Mt Carrington

Strong Geophysical Signals Reveal New Gold-Silver Targets

Legacy Minerals Holdings Limited (ASX:LGM) has identified a series of compelling, previously untested gold-silver targets at the Mascotte Prospect within its Mt Carrington Project in New South Wales. Ground-based induced polarisation (IP) surveys have delineated multiple large chargeability anomalies exceeding 30 mV/V, interpreted as sulphide-bearing structures that could host significant mineralisation beyond the company’s existing 1.6 million ounce gold-equivalent resource.

These chargeability highs are not only strong but also continuous along a northeast-trending corridor, with a strike length of at least 300 metres that remains open to the northeast and southwest. Notably, several of the most intense anomalies are “blind” targets, meaning they do not reach surface and evade detection by conventional surface sampling methods, explaining why they have remained untested until now.

Geophysical Survey Details and Interpretation

The IP survey, conducted by Fender Geophysics and modelled by Mitre Geophysics, employed both Gradient Array IP (GAIP) and Dipole-Dipole IP (DDIP) techniques. The data revealed a resistive corridor trending southwest to northeast with chargeability highs flanking its margins. These are interpreted as sulphide-rich structures or breccias, commonly associated with gold and silver mineralisation.

Two main chargeability zones were modelled: a large northern zone with values exceeding 30 mV/V at depths of 100 to 120 metres, and a smaller southern zone reaching up to 30 mV/V at 60 to 80 metres depth. Both zones remain open along strike and are consistent across multiple survey lines, with 3D inversion modelling confirming their continuity.

Drilling Commences on High-Priority Blind Targets

Legacy Minerals’ CEO Christopher Byrne highlighted the significance of these findings, stating the survey delivered exactly the large, strong targets the company sought, all adjacent to known gold-silver mineralisation but never before drill tested. Historic drilling near Mascotte returned encouraging intercepts such as 40 metres at 1.0 g/t gold from 151 metres, including 9 metres at 2.7 g/t gold, yet none of the new chargeability highs have been tested.

Drilling is currently underway to test these high-priority chargeability zones as part of Legacy Minerals’ approved program. The objective is to confirm sulphide-hosted gold and silver mineralisation and potentially extend the known mineralisation both along strike and at depth.

Implications for Mt Carrington’s Resource Growth

These untested, blind targets represent a promising avenue for resource expansion at Mt Carrington, which recently saw its mineral resource grow to 1.6 million ounces gold-equivalent following a significant upgrade. The discovery of new sulphide-bearing structures outside the existing resource base could materially enhance the project’s scale and value.

Given the blind nature of some targets, the success of this drilling campaign will rely heavily on the precision of the geophysical models and subsequent assay results. The company plans to refine drill targeting further based on ongoing geophysical interpretation and geological mapping.