Legacy Minerals Ltd (ASX:LGM) has outlined several new porphyry copper-gold targets at the Rockley Project within the prolific Lachlan Transverse Zone of New South Wales through geophysical survey work.
The surveys have revealed a combination of magnetic, radiometric and geochemical anomalies associated with copper-prospective Ordovician-aged geology.
Widespread copper values in samples from the project have indicated the presence of a hydrothermal system, which Legacy has interpreted to be porphyry copper-gold related.
Overall, the project has so far demonstrated prevalent copper and gold anomalism, with historical high-grade gold and copper-bearing artisanal mines in the area returning copper values up to 21%.
“An outstanding success”
“The airborne magnetic and radiometric geophysical survey at Rockley is an outstanding success and has identified several new geophysical targets in new, unvisited areas which we will investigate further during upcoming geochemical survey programs at the project,” managing director Christopher Byrne said.
“The survey has defined several priority anomalies within an area of significant copper-gold rock chip geochemistry, on major northwest-trending faults which have not been drilled or investigated by previous explorers.
“Legacy Minerals intends to commence evaluation of the new targets in the coming months with exploration of this promising early-stage project to include further systematic soil sampling and ground geophysics.
“The company is now in a strong position to advance our exploration strategy at the Rockley Project alongside our other exciting programs progressing across NSW.”
Legacy intends to complete further systematic geochemical work across its tenement holding to build on previous geological campaigns.
This program of works will include a large-scale soil geochemical sampling program and further ground-based geophysical work.