Legacy Minerals (ASX: LGC) has a defined a large area which exhibits elevated and anomalous chargeability and resistivity responses over a 2km strike length with the results from a GA-IP at the Bauloora Project in NSW, Australia
The GA-IP survey identified zones of elevated chargeability and resistivity are found proximal to interpreted and known veins and mineralisation within the Bethungra and Cowcumbala Volcanics.
The newly identified chargeable features coincide with historical shallow reverse circulation (RC) drilling that intercepted up to 3m at 1.13g/t Au, 15.8g/t Ag, 34ppm Hg and 7.2% Pb+Zn from 69m.
“Our recently completed GA-IP survey has contributed significantly to our interpreted prospectivity at the Bauloora Project,” Managing Director, Christopher Byrne, said.
“The survey forms part of our approach to systematically explore and drill the Project and we are excited to see the early fruits of this work.
“The GA-IP survey focused on the northern section of an 8km2 anomalous gold zone, and the findings of this survey are highly significant for Legacy Minerals. The survey results support a correlation of identified target areas with historical gold in drill intersections.
“The important implication of this correlation with gold mineralisation, is that the survey has defined similar chargeability and resistivity responses over a 2km strike length that has seen virtually no drilling.
“Importantly, what we see in the Bauloora Project is all the right ingredients for a significant low sulphidation epithermal discovery: extensive gold and silver mineralisation, scale, alteration and system preservation.”
Results returned from the GA-IP survey indicate correlation between chargeability and observed clay alteration in the Bethungra volcanics, as well as with historical Mee Mar prospecting and mapped veining that has strong gold, silver and base-metal intersections reported in historic drill holes (e.g. HB4: 3m at 1.13g/t Au, 15.8g/t Ag and 7.2% Pb+Zn from 69m).
Chargeable anomalies within the Bethungra rhyolites and dacites that have been identified in the central and western parts of survey area are of significant interest as they present a contrast to the interpreted resistive bedrock lithology.
Resistive anomalies have also been shown to occur with known veining and surface gold mineralisation at Bauloora North , the Mee Mar vein and at Bauloora East.
Resistive anomalies may represent quartz veining and/or zones of silica alteration associated with gold and silver mineralisation. These resistive targets may represent the response of an extensive low-sulphidation quartz-carbonate vein system.
Target areas of interest extend along strike (north and south) and to the east of the current survey. The company is currently assessing plans to extend the survey to these areas in the future. The limited drilling at the Bauloora project and the anomalies defined through the GA-IP survey have highlighted the untested prospectivity.
Significantly, the company interprets high levels of the low sulphidation system to be preserved due to the presence of sinter related lithology, and diagnostic vein textures and geochemistry. This Project therefore, represents an excellent opportunity for a shallow high-grade gold and silver discovery to be made.
For further information please visit: https://legacyminerals.com.au/
