Legacy Minerals begins to unlock NSW underexplored epithermal system

Legacy Minerals ASX LGM Bauloora Mine Prospect gold silver base metals drilling New South Wales
The historic Bauloora mine produced peak grades of 3,701g/t silver, 6.9g/t gold, 55% lead and zinc, and 6.4% copper.

New South Wales-focused explorer Legacy Minerals (ASX: LGM) has begun drilling beneath a historic mine southwest of Wagga Wagga which previously produced silver grades as high as 3,701 grams per tonne.

The old Bauloora mine prospect also saw gold grades as high 6.9 grams per tonne gold, 29% lead, 26% zinc and 6.4% copper.

The prospect has strike for at least 400m and is open in both directions and at depth.

Legacy says the prospect is only one of multiple targets within the Bauloora project, where there is a defined 27sq km of hydrothermal alteration and mineralisation.

Once drilling has been completed, follow-up down hole electromagnetics will be conducted to define additional targets.

Potential for ‘significant’ discovery, system sparsely tested

Managing director Christopher Byrne says the Bauloora  mine prospect hosts a low sulphide epithermal and base metals zone and he describes it as a “fantastic” asset for Legacy, with such deposits being highly regarded due to their metal endowment and mine lives.

“As we begin to unlock this underexplored epithermal system, we are excited to see the potential for a significant discovery,” he added.

Mr Byrne said that the system is sparsely tested with a combined total of only 37 reverse circulation diamond drill holes across the 27sq km alteration.

“This equates to one drill hole per 72 hectares.”

More systematic work due before next drilling

Induced polarisation surveying has completed across the Bauloora North, Mee Mar and Bauloora East targets covering 90 line kilometres.

The Mee Mar vein system has been mapped up to 5km in width and striking for more than 2km.

Rock chip samples returned assays up 39.1g/t gold and 267g/t silver.

Mr Byrne says systematic exploration will include geophysical work, detailed magnetics, sand soil geochemistry before additional drilling takes place.

The company describes Bauloora as one of the largest low sulphide systems in NSW, having produced bonanza silver grades.

The company’s other projects are Cobar (gold-copper along with lead-zinc), Rockley south of Bathurst (copper-gold), Harden northwest of Canberra (where drilling has hit grades up to 21.7g/t gold), Fontenoy southwest of Canberra (copper-gold) and Mulholland, north of Nyngan (tin-copper-nickel).

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