Legacy Minerals (ASX:LGM) reported high-grade mineralisation results from its recent drilling campaign at the Bauloora Project in the Lachlan Fold Belt, New South Wales.
Assays include up to 468g/t Ag, 3.8g/t Au, and 22.8% Zn+Pb from shallow, wide-spaced reconnaissance drill testing.
The successful intercepts were found across multiple new prospects.
At the Moonlite prospect, the best result was 4.1m at 5.0g/t AuEq from 149m, highlighted by 1m at 10.9g/t AuEq.
The Ben Hall area reported 24m at 0.5g/t Au from 70m, while the Breakout area yielded 4.3m at 3.2g/t AuEq from 106m.
CEO and Managing Director Christopher Byrne commented, "The latest results have delivered shallow and high-grade hits up to 468g/t Ag, 22% Zn+Pb and 3.8g/t Au from wide-spaced reconnaissance drill testing."
Byrne added that multiple vein trends with strong mineralisation had been confirmed, with three out of four new prospects returning promising results.
The drilling was part of the Phase 1 earn-in of the $15 million Bauloora joint venture with Newmont, with the next stages including further exploratory drilling planned for the fourth quarter.
Other areas of interest, such as Bluecap, also showed compelling results, with intercepts like 13m at 3.6g/t AuEq.
Legacy Minerals remains focused on exploring this previously undrilled terrain.
The Bauloora Project's potential has been further validated by the initial findings, anticipated to significantly contribute to the company’s growth strategy in the sector.
At the time of reporting, Legacy Minerals' share price was $0.23.