The company says the assays enhance the compelling opportunity within its belt-scale exploration package in one of Australia’s most underexplored terrains. Pic: Getty Images.
Mining
Special Report: Legacy Minerals sampling of historical diamond drill core at its Thomson project in NSW has returned up to 6.73g/t gold, 497g/t silver and 0.13g/t niobium.
These results come from 1,000m of core from drilling in 2011 that was sitting in a core yard in Londonderry NSW and has never been cut or assayed.
Sampling has demonstrated the presence of large-scale intrusion-related gold (IRG) systems at the Cut-A anomaly.
This is notable, because major IRG and IRG-copper discoveries have been made at projects with similar characteristics to Thomson, including WA’s Winu (2.8Mt copper, 8Moz gold, 51Moz silver), Havieron (7Moz gold, 0.3Mt copper) and Hemi (13.6Moz gold).
Legacy Minerals (ASX:LGM) is confident there’s strong evidence suggesting similar systems may also occur at Cut-B, F4 and other identified targets across the project.
Drilling is underway comprising two 600m drill holes at the F4 and Cut-B anomalies.
However, these are just two of more than a dozen untested, large, discrete geophysical targets that may represent IRG-Cu mineralisation.
“The Cut-A anomaly, one of many ‘bullseye’ anomalies at the project, was recognised as a potential IRG system and subsequent review of the drilling completed in 2011 led the team to analyse the unsampled historical drill core,” Legacy CEO and managing director Christopher Byrne said.
“These ‘near miss’ drill holes strengthen the discovery potential of our current drilling and future drilling planned on the project.
“The new assay results delivered from this unsampled historical core include a broad anomalous interval of 377m at 0.1g/t gold and 41m at 0.4g/t gold, as well as zones of up to 6.73g/t gold and 497g/t silver across the Cut-A and Cut-B anomalies.
“These results are comparable to several pre-discovery holes for major intrusion-related gold deposits, including De Grey Mining’s ‘Eagle deposit’ (part of the Hemi deposit in WA), which intercepted 68m at 0.7g/t gold beneath 50m of cover.”
The Eagle deposit now has a reported resource of 2.1Moz.
“Legacy Minerals is greatly encouraged by these new assays and the similarities between the geophysical anomalies of Cut-A and those of the F4 and Cut-B targets to be drilled in the current campaign,” Byrne said.
“The Thomson Project presents a rare opportunity to be a first mover in exploring a new intrusion-related gold and copper mineral system belt and is poised for a major discovery in the region.”
Further assays from the historical samples are pending.
This article was developed in collaboration with Legacy Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
