Legacy Minerals Gets Diamond Drilling Underway at Bauloora
THE DRILL SERGEANT: Legacy Minerals (ASX: LGM) has commenced a new phase of diamond drilling at the company’s Bauloora project in New South Wales.
Legacy Minerals has the new phase of drilling underway targeting high-grade gold and silver prospects at the Bauloora project.
The company has plans for a total of eight holes for up to 1,300 metres targeting high-grade gold and silver epithermal mineralisation within an approx. 29 square kilometres epithermal vein field (Primary Vein Field).
The current round of drilling is being funded under the Phase 1 Earn-In of the $15 million Bauloora Joint Venture with Newmont.
“Over the past six months, the Bauloora Team has completed an extensive systematic data acquisition process across the Primary Vein Field at Bauloora,” Legacy Minerals CEO & managing director Christopher Byrne said in the company’s ASX announcement.
“This work has included wide-ranging geophysics, geochemistry, and boots on ground mapping and sampling and it’s exciting to see the rig spinning to test the first of the compelling targets that have been generated.
“As with Legacy Mineral’s initial diamond drilling into the low-sulphidation vein field at Bauloora last year, most of these targets have never been tested by drilling despite having strong surface signatures and even outcropping veins in some instances.
“As the rig spins on our Bauloora project the exploration team continues to work on our 100 per cent-owned epithermal projects at Drake and Black Range.
“With drill results coming from two of New South Wales’ epithermal systems in the coming months, and a backdrop of strong demand and prices for gold and silver, now is a great time to be targeting new discoveries at these high-potential projects.”
Legacy Minerals CEO & managing director Christopher Byrne at RI Sydney Resources round-up
TO READ THE FULL ANNOUNCEMENT: CLICK HERE