NSW Government approvals received with drilling underway at Quarry & Thunderbolt Prospects Outcropping epithermal veins to be drilled for the first time
Drilling Underway at the Bauloora Au-Ag Epithermal Project
Sydney, Nov 19, 2024 AEST (ABN Newswire) - Legacy Minerals Holdings Limited (
ASX:LGM) is pleased to provide an update on its Bauloora Project (EL8994, EL9464) in NSW, Australia.
- Diamond drilling (DD) will commence shortly at the Bauloora Project in NSW, Australia.
- Up to four holes are planned for approximately 1,000 metres.
- The drill program is targeting a combination of undrilled, interpreted outcropping low-sulphidation epithermal veins and high-tenor geochemical anomalies with coincident geophysical anomalies.
- Veins occur within an approximate 29km2 epithermal vein field.
- Drilling is being funded under the Phase 1 Earn-In of the $15M Bauloora Joint Venture with Newmont.
Bauloora - a large preserved epithermal system
- Alteration across the vein field includes zones of high-level chalcedonic veins, clay alteration, and local sinter-related formations.
- The presence of outcropping sinter, chalcedonic textures, and pathfinder elements supports the current interpretation of a low-sulphidation epithermal system.
Management comment - Legacy Minerals CEO & Managing Director Christopher Byrne said:
"We are pleased to be drilling some new and exciting low-sulphidation epithermal Au-Ag targets with funding from our farm-in partner, Newmont. The targets include some of the largest and broadest outcropping epithermal veins across the Bauloora Project area with coincident geochemical and geophysical anomalies.
This initial reconnaissance drilling at Bauloora has already yielded intercepts of gold, silver, and base metals in previously undrilled and unrecognized areas, creating opportunities for future follow-up work.
With this latest drill campaign underway at Bauloora, it is a busy end of the year across the Legacy Minerals Portfolio. We also have drilling underway at Fontenoy, with assays expected imminently from recently completed diamond drill holes. Significant advancements have also been at the Thomson and Drake Projects, which remain priority targets in the portfolio."
Drill Targets
Quarry Prospect
The target has never been drilled and is defined by approximately 1,300m strike length of variably outcropping to float trains of colloform-crustiform textured chalcedonic-quartz veins.
These are commonly 1-2m wide; however, they have been mapped locally up to 8m wide and trend in a general north-south orientation. Anomalous geochemical pathfinders in soils including As, Sb, Cs and lesser Hg and Mo are consistent with the interpretation that exposed veins represent the upper levels of an interpreted low-sulphidation system, and a precious metal interval may be present at depth.
Thunderbolt Prospect
No drilling has ever been conducted at the Thunderbolt Prospect. The target is defined by soil anomalism, approximately 1,100m in strike length. Elevated geochemical pathfinders include As, Sb, Mo, and W, which coincide with mapped argillic altered dacite. Peak soil anomalism is near a discrete chargeability high on the inflection point of the anomaly. Minor workings and banded chalcedonic float have been observed on the surface.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/G9DEKVU0
About Legacy Minerals Holdings Ltd
Legacy Minerals Holdings Ltd (ASX:LGM) has a clear strategy to realise value through the exploration of its prospective projects. These projects represent a portfolio of potential near-term resource definition, drill-ready targets, and a pipeline of projects with Tier One target potential. The Company is targeting diverse mineralisation systems including porphyry-related Cu-Au within the Lachlan Transverse Zone (LTZ), Cobar-type, low sulphidation epithermal-style gold, volcanic hosted massive sulphide (VHMS) style gold / copper systems and large and high-grade skarn mineralisation highly prospective for battery metals.
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