Legacy Minerals Ramps Up Mt Carrington Exploration Amid Supportive Gold Price Trends

Legacy Minerals (ASX:LGM) said on Monday (August 25) that it has received approval from the New South Wales Government to recommence drilling at its gold and copper battery prospect at the Mt Carrington project.

The approval covers an upcoming program that includes land access in place for up to nine holes at 4,500 meters of diamond drilling. It will also target new areas identified in a recently completed airborne survey.

Historically, Mt Carrington has returned results up to 12.82 meters at 48 grams per tonne (g/t) gold per 2,589 g/t gold from 16 meters over 100,000 meters. It also holds 1.2 million ounces of gold-equivalent resources, with almost half being critical minerals.

“(The upcoming drilling program) will build on the historical data collected by previous companies,” said CEO and Managing Director Christopher Byrne.

Mt Carrington reportedly closed due to low metal prices in 1990, with the last mine at the site closing in 1993.

Byrne added that the company’s ongoing exploration programs are “well-funded,” citing Legacy’s successful AU$7.75 million capital raise announced last May 16.

The upcoming drilling will form part of Phase 1 of the project, which focuses on drill testing the Battery, Mascotte amd Emu prospects in the next few months.

Pending cultural heritage clearances, Legacy also plans to conduct staged drilling at Red Rock, Kylo, Strass and White Rock.

Last August 14, Legacy also announced initial drilling assays and further drilling plans for its Thomson project.

Thomson is also located in New South Wales, with its recent results including 377 meters and 0.1 g/t gold (no cut-off) from 225 meters.

“We are exploring a new frontier, being the first company to drill test some of these large geophysical anomalies and pursue the opportunity for a significant new gold and copper discovery,” Byrne said in the Thomson update.

First testing of select anomalies at Thomson is scheduled for the fourth quarter of 2025, while results from the Mt Carrington surface geochemical campaigns are expected within the next six weeks.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.