Legacy Minerals spots priority drill targets at NSW base and precious metals project

Legacy Minerals flags new drilling targets at Central Cobar project in NSW
Focus is on base and precious metals in the historic mining region
Geophysical surveys planned ahead of drill testing

Special Report: Legacy Minerals has identified new drill targets after wrapping up ground truthing at its Central Cobar project in NSW.

The company thinks the 308km² project has all the right ingredients for Cobar-type mineralisation and contains undrilled targets surrounded by operating and historical gold and copper mines in the world-class exploration and mining jurisdiction.

Recent soil results have highlighted several areas anomalous in coincident Cobar-type base and precious metal mineralisation pathfinder elements, including results up to 2.63g/t silver, 45ppb gold, 132.5ppm arsenic, 15.3ppm antimony and 886ppm zinc.

Now, ground truthing of soil anomalies resulted in the discovery of a previously unknown and undrilled quartz bearing gossan at surface, which may be a surface expression of primary mineralisation at depth.

The Woggle magnetic anomaly in particular has been highlighted as a priority target for follow up field work.

Looking for base and precious metal mineralisation

“Legacy Minerals is pleased to be back on the ground in Cobar where we have an exceptional exploration licence package in the heart of the Cobar Basin,” Legacy Minerals (ASX:LGM) CEO and managing director Christopher Byrne said.

“We have been opportunistic in our work out here with time between the company’s drill campaigns at Black Range and Bauloora earlier last month.

“This has allowed the exploration team to visit several key areas and it’s exciting to see new targets identified including Jethro and Hillview.

“Ground truthing focused on following up priority multi-element soil geochemical anomalies and areas of interest, identified during AEM modelling and noted in the aeromagnetic data.

“Encouragingly, a number of these areas are returning with anomalous pathfinders indicative of Cobar-type base and precious metal mineralisation, with structural complexity observable on surface, and the discovery of gossan which may be a surface expression of primary mineralisation at depth.”

Pic: Northern Cobar Project Area, key prospects, mines, and mineral occurrences. Source: LGM.

Exploration work programs ongoing

Electrical geophysical survey planning is currently underway to follow-up priority targets ahead of drill testing.

In addition, work is ongoing in the southern portion of tenement EL9511, along strike of the CSA and Peak Gold Mines where reconnaissance field work is planned.

“Legacy Minerals is also pleased to have further work being completed by the NSW Government in the form of two recently completed seismic lines across the northern and southern areas of the project,” Byrne said.

“We look forward to receiving that data and keeping shareholders updated as we progress the project.”

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.