Legacy Minerals Ltd (ASX:LGM) has received high-grade zinc, lead, gold and silver assay results from drilling at the 100% owned Bauloora Project in New South Wales.
Highlight drilling intersections include:
- Hole BM007 4m at 3.1% Zn + Pb (zinc + lead), 0.2g/t Au (gold) and 3.6g/t Ag (silver) from 137m;
- Hole BM007 9m at 9.9% Zn + Pb, 2.0g/t Au, 28.4g/t Ag, and 0.2% Cu from 145m, including 2m at 29.3% Zn + Pb, 5.4g/t Au, 94.1g/t Ag, and 0.4% Cu from 148m;
- Hole BM004 1m at 2.4% Zn + Pb, 0.1g/t Au, 4.6g/t Ag from 167m;
- Hole BM001 1m at 2.7% Zn + Pb, 0.6g/t Au and 3.4g/t Ag, 0.4% Cu from 72m, and;
- Hole BM001 1m at 1.3% Zn + Pb, 1.2g/t Au, 38.9g/t Ag and 0.6% Cu from 108m.
Drilling to date has focused on the Mt Felstead Prospect where breccia and vein hosted zinc and lead sulphides have been intersected.
The Mt Felstead Prospect is the first of several high priority target areas to be drill tested at the Bauloora Project with the new assay results from the first three drill holes of the 10-hole reverse circulation (RC) drill program (Figure 2).
Figure 2: Mt Felstead Prospect long section showing completed and planned drill holes
These drill results are encouraging, as they extend previously intersected high-grade mineralisation and possibly indicate widening of the breccia zone with depth or the potential for discrete high-grade shoots within the broader mineralised fault.
Legacy Minerals managing director Christopher Byrne said: “The Mt Felstead Prospect is the first high priority target to be tested at our Bauloora low sulphidation epithermal project.
“We are exceedingly pleased with the results, showing gold-silver and base metal mineralisation is present down to at least 175m from surface with every indication that mineralisation will continue at depth.
“To see the very high grades of zinc, lead, gold and silver is also very encouraging and highlights the potential for further discovery and definition of ‘high-grade shoots’ within the larger mineralised area.
“While it is still early days in the understanding of the geometry of mineralisation, it is evident based on this drilling, and the data from the historically mined Mt Felstead Mine, that significant pinching and swelling of ore shoots occurs in both a vertical and horizontal direction at the prospect.
“These ‘shoots’ present an exciting opportunity to delineate high-grade mineralisation both up and down dip of known intercepts, and for the discovery of repetitions along strike.” “We look forward to updating the market on the pending seven RC drill hole assays that were drilled with the aim to test along strike and at depth of known mineralisation.”
Assays are pending for the remaining seven RC drill holes and are expected to be returned by the end of April.
Legacy Minerals is also completing a focused down hole electromagnetic (DHEM) geophysical survey that will test the applicability of DHEM surveying at the Mt Felstead Prospect.
Three holes are planned for the survey.