Legacy Minerals Ltd (ASX:LGM) has identified multiple large epithermal gold‐silver drill targets from soil sampling at Bauloora in the renowned Lachlan Fold Belt mineral district of NSW.
The company recently completed 13 square kilometres of geochemical survey consisting of 2,714 soil samples across the project’s newly-defined vein trends and wider known epithermal vein field.
This work also delineated other pathfinder elements, including antimony, arsenic, lead, zinc, copper, molybdenum and bismuth, with peak soil results of 668 parts per billion (ppb) gold, 11.2 parts per million (ppm) silver, 409 ppm arsenic, 299 ppm copper, 9.47 ppm molybdenum, 1,450 ppm lead, 75.2 ppm antimony, 15.4 ppm tungsten and 945 ppm zinc.
The results returned 10 areas of anomalous gold-silver and pathfinder elements and are consistent with the previously reported rock chip assays showing widespread gold and silver footprint across one of NSW’s largest low-sulphidation epithermal-style gold-silver systems within the Lachlan Fold Belt.
Significantly, the epithermal system remains open in all directions.
Gold results from recent soil sampling on the Bauloora Project.
Pipeline of drill-ready targets
“With Legacy Minerals focused on the Bauloora Project, we continue to rapidly advance the system scale and prospectivity," said managing director Christopher Byrne.
"These soil sampling results add to the growing body of evidence which supports our view of the widespread prospectivity for the Bauloora Project to host a significant low sulphidation epithermal-style gold-silver deposit.
“Every phase of exploration work is delivering strong results and strengthens our confidence in these targets and importantly, has defined a pipeline of high conviction drill-ready targets across the project area.
“The results very clearly define low sulphidation epithermal gold-silver targets at the Mee Mar, Thunderbolt and Moonlite prospects with many more drill-ready targets now highlighted across the project.
“Also highlighted are significant anomalies that have never had any previous exploration work conducted across them. We are excited to be the first company to drill these targets with the knowledge we now have of their extent, widths and anomalism.”
In the works
Legacy Minerals is preparing a drill campaign to test a number of the high-conviction gold-silver targets generated from the soil sampling to date.
The Mee Mar, Moonlite and Mee Mar North prospects have been selected for the first phase ‘proof of concept’ drill campaign.
As well, anomalous soil results in locations where no historical work has occurred will be followed up by a field reconnaissance, mapping and rock chip sampling.
The company is also undertaking an independent technical review with the engagement of Cobre Nuevo Consulting Pty Ltd (CNE) to complete a third-party report on the exploration potential and targeting strategy at Bauloora.