Legacy Minerals restarts drill at promising NSW gold-copper play

• LGM recommences drilling at Thomson gold-copper project in NSW
• Drilling now targeting the Cut-B anomaly prospective for gold, silver and niobium
• Assays pending from previously untested F4 anomaly

Special Report: Legacy Minerals is recommencing drilling at its promising Thomson project in NSW following recent regional flooding, targeting large gold-copper systems.

The company believes there is a world-class discovery opportunity across the 5,500km2 belt-scale project, with the project sharing similar characteristics with other major intrusion-related gold and copper (IRG-Cu) districts, such as the Paterson Province in WA, where recent major IRG-Cu discoveries have been made at Winu (2.8Mt copper, 8Moz gold, 51Moz silver), and Havieron (7Moz gold, 0.3Mt copper).

Drilling is currently underway at the Cut B anomaly, which is prospective for gold, silver and niobium. Historical 2011 drilling targeted the magnetic anomaly but didn’t test the gravity anomaly.

Legacy Minerals (ASX:LGM) is now targeting the gravity anomaly, which can indicate increased sulphide abundance associated with an intrusion.

Drilling has also been completed at the previously untested F4 anomaly with assays pending.

In addition, a review of historical drilling results from Cut A led the company to conclude that the potential for IRG and IRG-Cu deposits had not been sufficiently considered nor tested historically – which presented a significant discovery opportunity.

Further sampling (80m) and assaying is planned to be undertaken further up hole between 216m to 136m. As sampling was aimed at providing proof-of-concept for IRG mineralisation, the first 60m of the top of basement from 136m to 180m was not sampled.

Preparations are now underway for sampling this section of the hole.

Hunting for large gold and copper deposits

Since 2011, the understanding of intrusion-related gold and copper systems has advanced significantly, with major discoveries in the past decade, including Hemi, Havieron, and Winu, proving their world-class potential.

“After the successful test of the F4 gravity and magnetic anomaly, our current focus is the Cut-B target; one of many discovery opportunities within the 5,500km2 tenement at Thomson,” LGM CEO and managing director Christopher Byrne said.

“This campaign marks the first test of the gravity anomaly at Cut-B.

“A gravity anomaly is a key indicator of a dense, potentially mineralised intrusive system or sulphide-rich zone, features commonly linked to intrusion-related gold and copper deposits.”

Byrne said drilling at both Cut-B and Cut-A has confirmed multiple hundred-metre alteration and mineralisation zones consistent with a large-scale intrusive system.

“These characteristics are comparable to several pre-discovery holes such as De Grey Mining’s Eagle deposit,” he said.

Byrne also pointed to a recent development with the project in the acquisition of a historical royalty over part of the Thomson Project by the Joshua Pitt-led Red Hill Minerals (ASX:RHI).

“The acquisition supports The Legacy Mineral’s view that the project presents a large-scale, gold and copper discovery opportunity,” Byrne said.

“We look forward to keeping our shareholders updated on the progress of this drilling campaign.”

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.