Mining

Legacy Minerals adds nickel and tin to portfolio with NSW project acquisition

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By Robin Bromby - 
E2 Metals ASX E2M Cobar Mount Hope gold copper electromagnetic targets New South Wales NSW

E2 Metals will now complete reconnaissance field work across all the anomalies at the project followed by a ground EM survey.

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Sydney-based Legacy Minerals (ASX: LGM) has picked up a sixth NSW project after being granted a 194sq km tenement in what it described as an emerging tin-copper and nickel terrain.

Named Mulholland, the tenement lies 500m southeast of Sky Metals’ (ASX: SKY) ground, including the tin-copper 3KEl project, and less than 3km from that company’s tin-copper Doradilla project.

Mulholland is also located 35km southeast of Bourke, and sits astride the Lachlan and Thompson orogens which, the company says, have “demonstrable” prospectivity for large and high-grade skarn mineralisation including tin, copper, tungsten, nickel, gold and zinc.

This project acquisition adds to the five already held by Legacy.

Those are Central Cobar (gold, copper, zinc, lead) near the town of the same name, Fontenoy (gold-copper), Bauloora (gold-silver) and Harden (gold) all south of Cowra, and Rockley (copper-gold) near Bathurst.

Tin, nickel prices reaching record highs

Legacy says the Mulholland tenement covers several drill-ready nickel and tin-tungsten prospects.

Chief executive officer and managing director Chris Byrne says that conditions have changed from the time when earlier exploration was carried out.

“This ground was relinquished by previous explorers due to sub-economic intercepts and lower commodity prices,” he said.

“However, it is a very different picture now with tin and nickel prices reaching record highs in recent months.”

Within Mulholland, there is Mulga nickel trend where 2.6km of nickel mineralisation has been defined in drilling, with intercepts including 44m at 0.45%, 54m at 0.4% and 32m at 0.39%.

The former YTC Resources drilled there in 2008 with 10 of 13 holes ending in mineralisation.

Tin proven by previous drilling

Legacy says tin prospectivity has also been proven by historic drilling.

The 1.2km Bob’s Tank anomaly were subject to two drill holes 1.2km apart, which returned (respectively) 6m at 0.21% tin and 2m at 0.17%.

The company noted that more recent work within the tenement has focused on exploring for Avebury-type nickel and Renison-type tin (both references to Tasmanian deposits).

Mr Byrne added that Legacy now has a “significant” position that is highly prospective for battery metals.