Legacy Minerals Holdings Ltd (ASX:LGM) has intersected “significant” epithermal vein and semi-massive sulphide mineralisation zones in a maiden drilling program at Mee Mar prospect within the Bauloora Gold Project in central New South Wales.
The company’s drill program comprised 10 diamond-cored holes across 1,649.6 metres testing the two-kilometre-long gold-silver bearing low sulphidation epithermal Mee Mar Vein which remains open in all directions.
Results from this work strongly support the assessment that there is significant potential for a major low sulphidation epithermal-style gold-silver deposit at the Bauloora Project near the town of Cootamundra and within the prolific Lachlan Fold Belt.
Notably, LGM’s drilling tested beneath soil and rock-chip geochemical results which graded up to 55.5 g/t gold, 904 g/t silver, 1,810ppm antimony and 7,970ppm lead.
Looking ahead, this supports the potential for a major epithermal gold-silver system across a 27 square kilometre vein field with extensive sinters confirmed supporting preservation of the boiling zone.
“Potentially very large district-scale area”
Legacy CEO and managing director Christopher Byrne said: “The Legacy Minerals Team is extremely pleased to confirm the completion of the maiden diamond drilling at the Mee Mar prospect with an exemplary safety outcome and fantastic looking drill core.
“Well done to the exploration team, the drillers and local suppliers from the Cootamundra district.
“The drilling has intercepted significant zones of epithermal veins and associated sulphide mineralisation.
“We are excited to see the results which will be used to focus future drilling on the high-grade shoots of the vein trend.
“Textural vein observations to date are interpreted to indicate we are still at a high level in the system above the boiling zone and as such we expect the system to develop further with depth.
“The diversity in the rock textures is impressive – classic low sulphidation banded quartz-adularia veins, cockade breccias and semi-massive sulphides with numerous overprinting events.
“We believe we are uncovering an epithermal system that, some 400 million years ago, was pulsing away and depositing a significant amount of mineralisation across a potentially very large, district-scale area.”
Drill highlights
LGM’s recently completed drill hole MM009 intersected a two-metre-wide zone of colloform-crustiform chalcedony and lead-zinc-copper sulphide epithermal-style mineralisation.
This follows the ‘exceptional’ intersections seen at MM008 which delivered 16 metres of epithermal-style mineralisation parallel to the Mee Mar Vein trend.
Semi-massive sulphides such as galena, sphalerite, chalcopyrite and pyrite exhibit multiple generations of sulphide deposition, brecciation and fluid flow, along with chalcedonic silica and hematite suggestive of rapid deposition and quenching.
About Bauloora
Legacy Minerals has progressively developed the Bauloora Project through systematic exploration including geological mapping, rock chip sampling, gradient array IP surveying, detailed ground magnetic surveying, ASTER data acquisition and interpretation, and widespread soil sampling.
The company's exploration to date strongly supports the assessment that there is significant potential for a major low sulphidation epithermal-style gold-silver deposit at the Bauloora Project.
The Bauloora Project is in the Central Lachlan Fold Belt NSW, which is host to world-class copper-gold orebodies including the Cadia-Ridgeway, Northparkes and Cowal mines.
Bauloora contains structural remnants of Early Silurian dominantly dacitic volcanic rocks and related granites, 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.