Legacy Minerals’ survey produces new targets at Bauloora that coincide with historic hits
The new anomaly coincides with historical drilling that uncovered 3m at 1.31g/t gold, 15.8g/t silver, 34ppm mercury and 7.2% lead-zinc.
Explorer Legacy Minerals’ (ASX: LGM) recent survey has identified chargeable features that coincide with historic drilling results at its Bauloora project northwest of Cootamundra, New South Wales.
The old Bauloora mine area historically produced up to 3,701 grams per tonne silver and saw gold grades as high as 6.9g/t, with 29% lead, 26% zinc and 6.4% copper.
The 50m-spaced gradient array induced polarisation (GA-IP) survey over a 4km by 2km area encompassed the northern section where elevated rock chip sampling was reported.
Survey results ‘significant’ given no previous drilling
Legacy says these targets may represent disseminated sulphides or quartz veins.
Historic reverse circulation drilling in the area returned up 3m at 1.31g/t gold, 15.8g/t silver, 34 parts per million mercury and 7.2% lead-zinc.
The survey was to extend the company’s exploration strategy.
It covered the majority of the known Mee Mar strike length and prospects including Bauloora East and Bauloora North within the northern portion of the gold anomalous zone.
Legacy managing director Christopher Byrne said the survey results are “highly significant” for the company, as they correlate target areas with historic drilling.
“The important implication of this correlation with gold mineralisation is that they survey has defined similar chargeability and resistivity responses over a 2km strike length that has seen virtually no drilling,” he added.
Mt Felstead samples at lab, results in eight weeks
Meanwhile, 10 reverse circulation holes have been completed at the Mt Felstead target, also within Bauloora.
All cores have been sent to the laboratory and results are expected within eight weeks.
The old Mt Felstead mine was discovered in the early 1900s and there was intermittent mining up until the 1950s.
Drilling has been testing down dip and along strike of known mineralisation.
Mt Felstead is the first of several high priority targets to be drill tested within Bauloora.
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).