Legacy Minerals (ASX: LGM) has received exciting results at its Bauloora Project in New South Wales which build confidence ahead of a planned drilling programme.
High-grade rock chip assays have confirmed a widespread and growing footprint of gold and silver across the project in the world-class Lachlan Fold Belt.
The company is currently finalising plans for the upcoming drilling programme and expects to test initial targets in Q4 2022. Notably, the newly defined gold target zones outlined in these results have not been drilled.
Highlights
• Rock chip assays show a widespread and growing footprint of gold and silver across one of NSW’s largest low-sulphidation epithermal-style gold-silver systems within the Lachlan Fold Belt (LFB).
• World-class mineral district – the LFB is known to host world class epithermal deposits including Cowal (15Moz) and Bowden’s (275Moz Ag Eq).
• As part of ongoing work multiple new gold bearing vein trends are actively being identified by the field team and expanding the previously interpreted extents of the system.
• The rock chip sampling infills and extends known areas of gold mineralisation with gold bearing veins grading > 0.2g/t Au now defined across a 11.25 sq. km area.
o 35% (55 of 156) of samples assayed greater than 0.5g/t Au
o 65% (102 of 156) of samples assayed greater than 0.2g/t Au
“The Bauloora Project continues to exceed our expectations with multiple rock chips greater than half an ounce and new parallel gold veining discovered within the expanded 11.25 sq. km gold zone. Infill sampling has confirmed continuous gold mineralisation, in some instances for over two km,” Managing Director, Christopher Byrne, said.
“What makes Bauloora’s widespread gold and alteration footprint so significant is that when you compare this footprint with analogous low sulphidation epithermal systems of comparable size, those similar systems almost universally host major gold deposits.”
Regional Setting in the Lachlan Fold Belt
The Bauloora Project is located in the Central Lachlan Fold Belt NSW, which is host to world-class orebodies including the Cadia-Ridgeway, Northparkes, and Cowal Mines. It is in a zone which is bounded to the west by the Gilmore Fault Zone and to the east by the Cootamundra Fault.
Bauloora contains structural remnants of Early Silurian dominantly dacitic volcanic rocks and related granites and Siluro-Devonian sediments and felsic volcanic rocks deposited on a basement of Late Ordovician turbidites, Late Ordovician to Early Silurian intermediate volcanic rocks and related intrusions and sedimentary rocks.
For further information please visit: https://legacyminerals.com.au/
