Legacy Minerals Ltd (ASX:LGM) has set a solid foundation to undertake exploration activities across a large portfolio of gold, copper, and base metal projects in New South Wales, following the company’s listing on the ASX in September 2021.
The company is confident that its understanding of this portfolio is leading towards a significant discovery.
Following its listing, Legacy had immediate exploration success by returning high-grade gold drilling results at the Harden Gold Mine Prospect.
These promising results provided early momentum in Legacy’s exploration program.
READ: Legacy Minerals confirms a ‘wide mineralised corridor’ at Harden Gold Mine
Harden remains a key project for Legacy but increasingly focus has shifted to the Bauloora Project where results continue to be outstanding.
Bauloora is emerging as the standout project in Legacy’s portfolio and presents a clear pathway to building shareholder value.
What makes Bauloora a standout project is its widespread gold-silver mineralisation and large low-sulphidation system footprint.
READ: Legacy Minerals achieves "outstanding" gold, silver, lead and zinc recoveries from Bauloora's Mt Felstead Prospect
This is significant as comparisons with analogous low sulphidation systems of similar size almost universally host major gold deposits.
Legacy has an aggressive program planned at Bauloora in the coming months.
AI exploration alliance
Legacy has also demonstrated its capacity to be innovative by entering an AI (artificial intelligence) exploration alliance with Earth AI to explore its battery and critical metal-focused projects, Fontenoy and Mulholland.
Earth AI will use its machine learning technology to target zones of potential mineralisation and support geological mapping.
READ: Legacy Minerals turns to AI in new alliance to fast-track battery metals discoveries
Not to be overlooked, Legacy has also continued exploration at the Cobar and Rockley Projects and believe that both will be integral parts of its portfolio as the company progress activities at each site.
READ: Legacy Minerals reveals new porphyry copper-gold targets through geophysical surveying at Rockley Project
The exposure of these tenements in two prolific copper and gold producing regions will give Legacy long term exposure to continued demand for these commodities and consequential upside to any discoveries.
Copper and gold outlook
More broadly, Legacy remains optimistic about the copper and gold markets.
Copper has a tremendous future, not only because of its long-term role in the transition to a low-carbon society but also as demand for its traditional uses remains strong.
Legacy also expects gold to be resilient despite global political uncertainties and sees ongoing strength in the precious metal, particularly from an Australian dollar perspective.