What's Happening?
Legacy Minerals has engaged WSP Global to update the mineral resource estimate (MRE) for its Mt Carrington Gold-Silver-Copper Project in New South Wales. The update aims to increase the estimates of silver ounces and copper tonnes, as well as enhance
resource confidence. This initiative will incorporate previously unincorporated high-grade silver and copper drilling results, updated density measurements, and revised metal payability assumptions based on the 2026 Ausenco Scoping Study. The current MRE, as of 2025, includes 1.2 million ounces of gold equivalent at 1.10 grams per tonne across 34.4 million tonnes, marking an 80% increase in tonnage from the 2022 estimate. The updated MRE will also include high-grade silver and copper results, such as 26.5 meters at 220 grams per tonne of silver and 18.9 meters at 5.8% copper. Legacy Minerals aims to upgrade the confidence categories of its resources, moving inferred resources to indicated status.
Why It's Important?
The update of the Mt Carrington resource estimate is significant for Legacy Minerals as it seeks to enhance the economic viability and attractiveness of the project. By incorporating high-grade drilling results and updated economic assumptions, the company aims to improve the project's financial metrics and appeal to potential investors and partners. This move could lead to increased investment in the project, potentially boosting the local economy and creating job opportunities. Additionally, the focus on increasing silver and copper estimates aligns with global demand for these metals, driven by their use in technology and renewable energy sectors. The successful update could position Legacy Minerals as a key player in the Australian mining industry, particularly in the context of rising metal prices.
What's Next?
Legacy Minerals plans to complete the updated MRE within four weeks. Following this, drilling at the Emu prospect is underway, with results expected four to six weeks after the final hole is completed. The drilling rig will then move to the Mascotte area to follow up on initial campaign results. These steps are part of Legacy Minerals' broader strategy to advance the Mt Carrington Project and potentially expand its resource base. The company will likely continue to engage with stakeholders and investors to secure the necessary funding and partnerships to bring the project to fruition.
