Legacy Minerals (ASX:LGM) announced a major breakthrough in its exploration strategy, confirming a new greenfields gold discovery following a maiden drilling campaign.
The discovery was made at the Mascotte prospect, situated within the broader Mt Carrington project area.
Initial results from the first-pass drill program have been described as "outstanding," providing a strong validation of the company’s geological targeting in this previously untested zone.
The new discovery lies entirely outside the existing 115Moz AgEq (silver equivalent) mineral resource estimate, suggesting substantial potential for resource expansion.
Geological analysis indicates that the mineralisation style and grades are highly consistent with a Mt Carrington Epithermal System, a known geological setting for high-grade precious metal deposits.
Visual data from drill core MSDD003 at a depth of 180m reveals promising mineralisation, though formal assays remain pending to confirm exact values.
Looking ahead, the company is pivoting its strategy toward targeting high-grade zones to further delineate the scale of the find.
The discovery represents a pivotal moment for Legacy Minerals, as it shifts the Mascotte prospect from a conceptual target to a confirmed mineralised system.
At the time of reporting, Legacy Minerals' share price was $0.16.