UK Investment Guides Loader

Legacy Minerals verified more gold in Lachlan Fold Belt

written by Bella Palmer
australian-securities-exchange

It has received further assays from three holes completed at the Harden gold mine prospect

Following its Australian Securities Exchange (ASX) listing less than a month ago, Legacy Minerals has verified more gold at its Harden project in New South Wales’ Lachlan Fold Belt.

Legacy debuted on the ASX mid-last month after raising $5.8 million in its IPO.

It has received further assays from three holes completed at the Harden gold mine prospect.

Better results were 8m at 2.45 grams per tonne gold from 77m, including 3m at 4.62g/t gold from 79m; and 9m at 0.56g/t gold from 120m, and 4m at 0.51g/t gold from 133m.

The 8m at 2.45g/t gold intersection is 50m up-dip of a previous hole, which hit 5m at 7.81g/t gold from 110m, including 2m at 19.09g/t gold.

Legacy managing director Christopher Byrne said the Harden gold mine prospect has continued to deliver “exceptional” results for the company.

The grades, strike and widths seen in the recently completed drill holes greatly expand the knowledge of the mineralisation, he said. It is exciting to see the extent of the mineralisation through these broad zones, which expands both the scale and potential for the system.

Legacy is still expecting assays for six holes drilled at Harden.

To-date, the Legacy exploration team has completed 1,546m of drilling at Harden and has budgeted for over 5,000m across the project, Mr Byrne noted. This gives the company significant room to expand on the discovery.

Mr Byrne said the company was now planning the next drilling program for the project.

The upcoming round of drilling is expected to begin after all assays have been received along with completion of a campaign at the Bauloora mine prospect.

Mr Byrne said the company was well funded to advance its “exciting portfolio” that contains numerous opportunities for discovery.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

You can tell friends this post!