Legacy Minerals’ Mt Carrington Drilling Could Unlock Untested High-Grade Silver and Copper Zones

Legacy Minerals Advances Exploration at Mt Carrington

Legacy Minerals Holdings Limited (ASX – LGM) has announced a significant step forward in its exploration program at the Mt Carrington Project in New South Wales, with drilling approvals secured from the NSW Government for the Mascotte silver-gold prospect and imminent drilling at the Battery copper-gold prospect. These developments mark a renewed focus on unlocking the potential of a project already hosting a substantial 1.2 million ounce gold equivalent resource, including 24 million ounces of silver.

High-Grade Silver Targets at Mascotte

The Mascotte Prospect, historically mined for silver and gold, is set for up to eight diamond core drill holes totaling 4,000 meters. Previous drilling between 1969 and 1970 was shallow; less than 70 meters deep; and limited to a narrow 50-meter strike length. Despite this, it returned impressive silver grades, including an 18.3-meter intercept at 237 grams per tonne silver, with a standout 9.1 meters at 394 grams per tonne. Notably, these holes were not assayed for gold, leaving open the possibility of additional precious metal content.

Recent geophysical surveys, particularly the airborne MobileMT data, have revealed a district-scale conductivity lineament aligned with known mineralisation and historical workings, suggesting the prospect remains open at depth and along strike. This new insight provides a compelling rationale for the upcoming drilling campaign to test extensions of the mineralised system.

Battery Prospect – Untapped Copper-Gold Potential

At the Battery Prospect, drilling is set to commence imminently to test targets identified by CRA (now Rio Tinto) in the early 1990s but never followed up. The target is characterised by a magnetic anomaly indicative of an intrusive body and a conductive blanket near surface, consistent with a porphyry copper-gold system. Historical reconnaissance drilling intersected mafic intrusive breccia with quartz veining typical of epithermal-porphyry mineralisation, but no further drilling was completed at the time.

The new MobileMT geophysical data has reinforced the prospectivity of this target, highlighting elevated conductivity zones that may correspond to mineralised breccia pipes. This drilling will be the first modern test of these copper-gold targets, potentially opening a new chapter for resource growth at Mt Carrington.

Strategic Context and Next Steps

Legacy Minerals’ CEO Christopher Byrne emphasised the significance of these approvals and the upcoming drilling, noting the combination of historical high-grade intercepts and modern geophysical data provides a unique opportunity to expand the project’s resource base. The drilling forms part of a broader regional exploration strategy that also includes the Emu Prospect, running in parallel with ongoing scoping study work on the Mt Carrington Project.

With a large caldera system hosting multiple epithermal and porphyry-style deposits, Mt Carrington remains a highly prospective asset in Legacy Minerals’ portfolio. The company’s methodical approach; integrating historical data, new geophysical insights, and targeted drilling; positions it well to unlock further value for shareholders.