Legacy Minerals intersects semi-massive sulphides at historic Bauloora project
Mt Felstead is the first of several high priority targets to be drilled within Legacy Minerals Bauloora project in NSW.
Explorer Legacy Minerals (ASX: LGM) reports that all three completed drill holes of its maiden program have intersected base metal sulphide mineralisation at the Bauloora project in New South Wales.
Veined base metal mineralised zones have been observed to extend over a width of up to 10m
The old Bauloora mine area historically produced silver at up to 3,701 grams per tonne silver and saw gold grades as high 6.9g/t with 29% lead, 26% zinc and 6.4% copper.
Drilling is under way at the old Mt Felstead mine, which lies 10km northwest of Cootamundra. It was discovered in the early 1900s and there was intermittent mining up until the 1950s.
Drilling is now testing down dip and along strike of known mineralisation.
The planned nine holes will total about 1,500m and will test a 650m strike of historically mined mineralisation and anomalous soil chemistry.
The three holes now completed ranged from 120m to 220m in depth.
Mt Felstead first of several priority targets
The drill site is exhibiting a carbonate base metal, gold-silver epithermal style of mineralisation, the company says.
Mt Felstead is the first of several high priority targets to be drill tested within the Bauloora project.
Legacy Minerals managing director Christopher Byrne says the observation of base metal sulphides in all three holes to date is very encouraging as they have demonstrated association with silver and gold mineralisation in historical drill and mining data.
There remain five drill holes to be completed that have the possibility of significantly extending the known mineralised strike and dip.
Historical sampling show potential for ‘bonanza’ silver
Legacy Minerals notes that historical sampling shows the potential for bonanza grade silver and gold mineralisation.
It been reported that an unmined production drive about 60m long 0.7m wide averaged assays of 1,021.5g/t silver, 7.2g/t gold, 22% lead+zinc, and 2.5% copper.
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).