Quarterly Activities and Cash Flow Reports 31 March 2024
Released
Released
Announcement PDF
ASX ANNOUNCEMENT
30 April 2024
March 2024 Quarterly Report
Exciting start to 2024 with emerging PGE-Ni-Cu discovery at Fontenoy and major new exploration
programs underway at Bauloora and Black Range; Landmark Joint Venture agreement secured
with S2 Resources at Glenlogan, and Mt Carrington acquisition completed
Exploration Highlights
Bauloora Project
•
Deep diamond drilling at the Breccia Sinter Prosect has successfully defined a new vein trend, with
further drilling required to vector towards a potential high-grade Au-Ag shoot.
•
Foundational geochemical and geophysical surveys underway, including Audio Frequency
Magnetotelluric (AMT) survey, ground gravity survey, Bulk Leached Extractable Gold (BLEG)
stream sediment sampling and detailed geological mapping.
•
Survey programs to provide a world-class dataset to prioritise epithermal gold targets for drilling
in Q2 2024.
•
Newmont has met its Stage 1 minimum commitment and confirmed it will proceed with sole
funding the Phase 1 Earn-In of the $15M Bauloora Joint Venture.
Black Range
Planning for an initial phase of drilling to test coincident gold-silver geochemical and IP anomalies
at the Sugarbag Hill Gold-Silver Prospect at Black Range.
•
Fontenoy Project
•
Strategic exploration partner, Earth AI, has made a new magmatic PGE-Ni-Cu discovery at
Gramont, with a discovery drill hole of 34m at 0.5g/t 3E PGE, including a higher-grade zone of 10m
at 1.2g/t 3E PGE, 0.2% Ni and 891ppm Cu. i,1
•
This is the first known discovery of this mineralisation style in the Lachlan Fold Belt, NSW.
Corporate Highlights
•
Highly regarded exploration group S2 Resources, led by Dr Mark Bennett, entered into $6M Farmin at the Glenlogan Porphyry Project in central NSW with Legacy Minerals, for S2 to fund
exploration to test a highly prospective Cadia ‘look-alike’ porphyry target. ii
•
Transformational acquisition of the Mt Carrington Project in northern NSW completed. Together
with an adjacent Exploration Licence Application, this forms the new Drake Project, which includes
a Resource of 356koz of gold and 23Moz of silver together with an exceptional exploration
opportunity in the under-explored New England Fold Belt. iii
1
Refer to page 16 “ENDNOTES” for these references.
Page 1 of 16 | ABN 43 650 398 897
3/202 Russell Street Bathurst, 2795
www.legacyminerals.com.au
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Management comment
Legacy Minerals CEO & Managing Director, Christopher Byrne, said:
“The March Quarter has been a hive of activity at Legacy Minerals, with our exploration work programs
advancing across multiple projects.
Pleasingly, we kicked-off 2024 with an exciting new discovery at our 100%-owned Fontenoy Project,
which is being explored under an exploration alliance with Earth AI. Earth AI uses artificial intelligence
technology to generate drill targets, with the first target to be drill tested – the Gramont Prospect –
yielding a new magmatic PGE-Ni-Cu discovery.
This is the first time this style of mineralisation has ever been discovered in the Lachlan Fold Belt,
providing a strong vindication for Earth AI’s targeting technology. Follow-up drilling at Fontenoy is
planned for the June Quarter.
At the Bauloora Gold Project, which is the subject of a $15 million farm-in agreement with leading gold
producer Newmont, assay results reported during the March Quarter from diamond drilling at the
Breccia Sinter prospect provided strong geological evidence for the potential presence of an epithermal
gold system.
The assay results defined a new vein trend at Breccia Sinter, but drilling is yet to define the high-grade
shoot interpreted from previous rock chip sampling. To help enhance our understanding of the geology
at Bauloora, we have recently commenced a multi-faceted geochemical, geophysical, and geological
data acquisition program, with the intention of compiling a comprehensive exploration dataset to
inform our future drill targeting. Our next phase of drilling at Bauloora is scheduled to commence in
the June Quarter.
We have also recently kicked off a major drilling program at our flagship 100%-owned Black Range
Project to test a large, compelling gold-silver target at the Sugarbag Hill prospect, which was last
explored by Newmont more than 30 years ago. This is an exciting drilling program and we are eagerly
awaiting initial results.
We were also very pleased during the Quarter to secure a landmark Joint Venture with S2 Resources
for our recently acquired Glenlogan Project. S2 Resources is a highly regarded exploration company,
led by Dr Mark Bennett, with an exceptionally strong discovery track record. S2 can acquire up to an
80 per cent interest in the Glenlogan Project by spending $6 million on exploration, with a loan
financing option that would see Legacy Minerals carried from discovery through to commercial
production without the need to raise capital for the project.
With S2 funding exploration at Glenlogan and Newmont funding exploration at Bauloora, Legacy
Minerals is firmly focused on delivering on near-term discovery opportunities at our 100%-owned Black
Range and Drake Projects and following up the emerging discovery at Fontenoy.
This sets up the Company’s shareholders for a very exciting period ahead.”
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Black Range Project
The Black Range Project is located in the Lachlan Fold Belt of NSW, which hosts world-class coppergold orebodies including the Cadia-Ridgeway, Northparkes and Cowal Mines.
Subsequent to the end of the Quarter, iv Legacy Minerals commenced an initial phase of drilling to test
coincident gold-silver geochemical and IP anomalies at the Sugarbag Hill Gold-Silver Prospect at Black
Range.
The 1,100m diamond drilling (DD) program represents the first drilling program at this target since
drilling by Newcrest Mining Limited in 1992.
Legacy Minerals has identified coincident Induced Polarisation (IP) and geochemical targets at
Sugarbag Hill that were not recognised by previous explorers and remain untested by drilling. The
strong resistive target areas are closely associated with a 2.2km long gold trend where soil sampling
returned assays of >20ppb Au (up to 296ppb Au), including a higher-grade 800m long gold zone with
an average grade of 107.5ppb Au.
Recent rock chip samples collected along the resistivity trend have confirmed altered lithologies to be
gold and silver-bearing, with assays up to 2.27g/t gold and 29.6g/t silver.
The Sugarbag Hill Prospect is located in an underexplored area of the Lachlan Fold Belt, NSW.
Mineralisation is hosted within early I-type Devonian felsic rocks of the Mountain Creek Volcanics.
Indications of a preserved epithermal sinter were identified during ground reconnaissance of
historically mapped “cherts” within the Prospect area. Petrography has now confirmed an extensive
silica sinter outcrop at the Prospect. Alteration at the Prospect is moderate to intense silica-sericite
+/- pyrite in association with the exposed agglomerate and ignimbrite hosted in the Mountain Creek
Volcanics v.
Figure 1: Sugarbag Hill Prospect IP line 200S, historical Newcrest drill hole, gold in soils, and feeding zone
targets vi
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Figure 2: Sugarbag Hill gold in soils,vi with target areas (white) and historic IP lines vii
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Bauloora Project
The Bauloora Project (EL8995 and EL9464) is located in the world-class Lachlan Fold Belt of New South
Wales and covers a large hydrothermal alteration zone spanning 27km2. Within this broader alteration
zone sits an anomalous gold zone currently mapped to 15km2. The Bauloora Project is subject to a
Farm-In and Joint Venture agreement secured with Newmont Exploration Pty Ltd in 2023.
During the December Quarter, diamond drilling at the Bauloora Project intersected multiple
epithermal-style veins at the Breccia Sinter Prospect, with visual analysis suggesting the drilling hit the
top of a “boiling zone”, which may suggest the presence of a preserved epithermal system at depth.
Diamond Drilling Program
Three deep diamond drill holes were completed at the Breccia Sinter Prospect during the December
2023 Quarter. Assay results were reported during the March Quarter, with the drilling successfully
defining a new vein trend, however further drilling is required to vector towards a potential high-grade
Au-Ag shoot.
The 3-hole diamond cored drill campaign returned a best result of 1.25m at 45.6g/t Ag, 0.2g/t Au,
1.35% Cu, 3.7% Zn+Pb (from 329.75m) in drill hole BX002.
The Breccia Sinter target remains open, with drilling not yet identifying the source of high-grade rock
chips encountered on surface which returned grades up to 32.2g/t Au and 16.3g/t Au.
Full details of the assay results from the diamond drilling program were provided in the Company’s
ASX Announcement dated 19 March 2024.
Figure 3: Breccia Sinter geological cross section (6174475mN) interpretation showing lithology, faults and
veining viii.
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Figure 4: Map view of the Bauloora primary vein field area including highlighted red recent Breccia Sinter
Drilling and significant intercepts and underground sampling to date across the Project ix,x,xi
Geochemical and geophysical survey program
Following the completion of the diamond drilling program at the Breccia Sinter Prospect outlined
above, the Company commenced a multi-faceted geochemical, geophysical, and geological data
acquisition program during the March Quarter to further enhance its geological dataset at the
Bauloora Project.
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Programs include:
•
•
•
•
Audio Frequency Magnetotelluric Survey: A large-scale audio frequency magnetotelluric
(AMT) survey is underway for 83 line-km’s across 10km2 of the Primary Bauloora Epithermal
Vein Field.
Ground Gravity Survey: A significant ground gravity survey is underway of 100m x 100m
spaced stations over 10km2.
Geochemical Surveys: A tenement-wide Bulk Leached Extractable Gold (BLEG) stream
sediment sampling program is underway across 330km2.
Geological Mapping: Detailed geological mapping is underway across 10km2 of the Primary
Vein Field.
The completion of these exploration activities will provide a world-class dataset which the Company
intends to use to drill test epithermal gold mineralisation targets, with drilling scheduled to commence
in Q2 2024.
Newmont Joint Venture
During the Quarter, Newmont met its Stage 1 minimum expenditure commitment and confirmed it
will proceed with the sole funding of the Phase 1 Earn-In of the $15M Bauloora Joint Venture.
Drake Project
During the Quarter, the Company finalised its acquisition of 100% of the Mt Carrington Exploration
Licence (EL6273) for $190,000 from White Rock Resources (MTC) Pty Ltd (“WRM”, or the
“Administrator”).
The Drake Project sits within the highly prospective New England Fold Belt (NEFB) and is one of a
number of epithermal gold, silver, base metal districts that formed along the east coast of Australia
during the Permian age as back arc extensional volcanic basins. A number of major mines and deposits
occur within the NEFB including the Cracow gold mine (2.5Moz Au @ 4.97g/t) xii, Mt Carlton gold mine
(1.2Moz Au, 12Moz Ag) xiii, Mt Rawdon gold mine (2.5Moz Au xiv), and Mt Morgan (8Moz Au xv).
In addition to EL6273, the Drake Project also includes granted Exploration License EL9616. An
Exploration Licence Application, ELA6642, has also been lodged over all the WRM Mining Leases
(ML’s). In July 2023, WRM lodged applications with the NSW Government for the surrender of all MLs
at Mt Carrington.
Upon the completion of the ML relinquishment, the rights to the Mineral Resources will be held by
Legacy Minerals through the granting of the ELA.
The two existing EL’s and the pending ELA at Drake collectively host a significant existing Resource
totalling 356,000oz of gold and 23.315 million oz of silver, which equates to an acquisition cost of
$0.53 per oz of gold (including 65.5 oz of silver).
Extensive, shallow gold, copper and silver results from across the Project area demonstrate compelling
discovery potential, with assays including:
•
•
•
•
RED003: 8m at 16.92g/t Au, 17g/t Ag, 0.53% Cu, 1.45% Pb and 6.89% Zn, from 52m
KYDD003: 118m at 1.71g/t Au, 6.9g/t Ag, 0.1%Cu and 1.12% Zn from 2m
KYDD001: 16m at 5.8% Cu from 58m and 10.1m at 7.26% Cu from 88m
MODD004: 26.5m at 220g/t Ag and 0.1g/t Au from 133.3m
Unencumbered by any mining liabilities, Legacy Minerals intends to change the approach taken by
previous owners from near-term mine development to exploration targeting a Tier-One deposit.
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Figure 5: Endowment of the New England Fold Belt with major mines and the location of the Drake Project
Fontenoy Project
During the Quarter, the Company’s strategic exploration partner at the Fontenoy Project, Earth AI,
made a significant new magmatic PGE-Ni-Cu discovery at the Gramont Prospect. The discovery
drillhole, diamond cored EFO7D, returned magmatic-related platinum group elements (PGEs) and NiCu-Fe sulphides with a broad zone of mineralisation assaying 34m at 0.5g/t 3E PGE 2, including a higher
grade zone of 10m at 1.2g/t 3E PGE, 0.2% Ni and 891ppm Cu from 388m down-hole.
The PGE component includes 10m at 0.89g/t palladium, 0.19g/t platinum, and 0.1g/t gold.
The mineralisation is associated with disseminated sulphides pentlandite, chalcopyrite and pyrrhotite.
The result has unlocked the potential for magmatic-related PGE-Ni-Cu at Fontenoy and represents the
first known discovery of this mineralisation style in the Lachlan Fold Belt. Magmatic-related PGE-NiCu sulphide deposits can be very large and valuable deposit styles, with examples including NovaBollinger (IGO) and Julimar (Chalice Mining).
Platinum-group elements and nickel are both recognised as critical strategic minerals by the Australian
Government, as essential to our modern technologies, economies and national security.
Gramont represents the first target to be drill tested at Fontenoy using Earth AI’s artificial intelligence
deposit targeting system. This technology has generated a range of additional drill targets across the
Fontenoy Project, with further drilling planned both at the Gramont discovery and across the broader
Project area.
2
No cut-off grade applied
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Figure 6: Drill hole cross-section (6,187,700mN) of the discovery hole EFO7D 3 showing historical holes (*No
cut-off grade applied).
3
Drill holes were not surveyed, and the exact trajectory of the hole trace may have deviated from collared dip
and azimuth. Refer to the JORC Table in ASX Announcement dated 26 February 2024 for further details.
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Figure 7: Drill hole EFO7D (10m at 1.2g/t 3E PGE from 388m) showing disseminated interstitial Ni-Cu-Fe
sulphides (yellow) in diamond drill core at 397.8m (left) and photomicrograph (field of view 1mm across) of
the mineralisation (composed of bronze pentlandite, yellow chalcopyrite and brown pyrrhotite).
Full details of the Fontenoy drilling were provided in the Company’s ASX Announcement dated 26
February 2024.
Exploration Activities on other Projects
No exploration was reported for the remaining Legacy Minerals projects in this quarter.
Corporate
S2 Resources farms-in to Glenlogan Porphyry Project
S2 Resources entered into a A$6 million farm-in and joint venture agreement at the Glenlogan (Cowra)
Project (EL9614) in central NSW during the March Quarter.
The highly regarded exploration group, led by Dr Mark Bennett, will fund exploration at Glenlogan to
test a highly prospective Cadia ‘look-alike’ porphyry target.
Under the terms of the Joint Venture, S2 can spend $6 million over 5 years to earn a 70% interest in
EL9614 in two stages:
•
Stage 1 – $2 million over 2 years to earn a 51% interest; and
•
Stage 2 – $4 million over 3 years to earn a further 19% interest.
Minimum commitments include 1,200m of diamond drilling in Stage 1 and 8,000m in Stage 2.
At the decision to progress towards mining, Legacy Minerals has the option of contributing at its 30%
interest level or converting to a 20% loan-carried interest, to be repaid through future production
revenue.
This would mean that Legacy Minerals would have 20% ownership of a mine that is fully financed
through to production, with no need to undertake a dilutive capital raising.
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Full details of the Joint Venture agreement were provided in the Company’s ASX Announcement dated
29 January 2024.
Finance
At the end of the quarter, the Company had $3.1M cash at bank.
ASX Additional Information
Exploration and evaluation expenditure and licence fees during the quarter totalled $630,000 4. This
included $88,000 for drilling and drilling ancillary costs, $87,000 for geophysical programs, $79,000
for geochemistry programs $18,000 for land access and compensation and $358,000 for other costs
including ancillary costs, salaries, and sub-contractors. Full details of exploration activity during the
quarter are set out in this Report.
There were no substantive mining production and development activities during the quarter.
Payments to related parties of the Company and their associates during the quarter totalled $182,000
for salaries, superannuation and director’s fees.
ASX Market Sensitive Announcements
4
•
16 April 2024
Drilling Underway at Sugarbag Hill Gold-Silver Prospect
•
28 March 2024
Transformational Acquisition of the Mt Carrington (Drake) Project
•
19 March 2024
Drilling Update
Diamond Drilling Assays Returned at Bauloora and Portfolio Wide
•
26 February 2024
Artificial Intelligence makes New Magmatic PGE-Ni-Cu Discovery
•
1 February 2024
Significant Exploration Programs Underway at Bauloora
•
29 January 2024
S2 Resources enters $6M Farm-in at the Glenlogan Porphyry Project
Further details of exploration and evaluation expenditure are included in the Company’s Appendix 5B “Mining
exploration entity or oil and gas exploration entity quarterly cash flow report” for March 2024 Quarter.
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Tenement Register
Table 1: LGM Tenement Register
Tenement Reference Location
Status
Beneficial Interest
Expiry
at 31/03/2023
EL8994
Cootamundra
Live
100%
2025-08-04
EL9464
Cootamundra
Live
100%
2027-09-16
Black
Range
EL9466
Yass
Live
100%
2027-09-19
EL9589
Yass
Live
100%
2029-07-28
Cobar
EL9511
Cobar
Live
100%
2028-01-13
Cowra
EL9614
Cobar
Live
100%
2026-11-02
EL6273
Drake
Live
100%
2024-07-15
EL9616
Drake
Live
100%
2029-11-23
ELA6642
Drake
Application
NA
NA
EL8995
Wallendbeen
Live
100%
2025-08-04
ELA6714
Wallendbeen
Application
NA
NA
EL9257
Harden
Live
100%
2027-08-04
EL8809
Harden
Relinquished 0%
NA
ELA6694
Harden
Application
NA
NA
EL8296
Rockley
Live
100%
2028-12-20
Bauloora
Drake
Fontenoy
Harden
Rockley
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Approved by the Board of Legacy Minerals Holdings Limited.
For more information:
Investors/Corporate:
Media:
Chris Byrne
Nicholas Read / Kate Bell
CEO & Managing Director
Read Corporate
chris.byrne@legacyminerals.com.au
info@readcorporate.com.au
+61 (0) 499 527 547
+ 61 (0) 419 929 046
PREVIOUSLY REPORTED INFORMATION AND DISCLAIMER
Information in this announcement is extracted from reports lodged as market announcements referred to above
and available on the Company’s website https://legacyminerals.com.au/. The Company confirms that it is not
aware of any new information that materially affects the information included in the original market
announcement and that all material assumptions and technical parameters underpinning the estimates in the
relevant market announcement continue to apply and have not materially changed.
This announcement contains certain forward-looking statements. Forward looking statements are only
predictions and are subject to risks, uncertainties and assumptions which are outside of the control of Legacy
Minerals Holdings Limited (LGM). These risks, uncertainties and assumptions include commodity prices,
currency fluctuations, economic and financial market conditions, environmental risks and legislative, fiscal or
regulatory developments, political risks, project delay, approvals and cost estimates. Actual values, results or
events may be materially different to those contained in this announcement. Given these uncertainties, readers
are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this
announcement reflect the views of LGM only at the date of this announcement. Subject to any continuing
obligations under applicable laws and ASX Listing Rules, LGM does not undertake any obligation to update or
revise any information or any of the forward-looking statements in this announcement to reflect changes in
events, conditions or circumstances on which any forward-looking statements is based.
COMPETENT PERSON’S STATEMENT
The information in this Report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore
Reserves is based on information compiled by Thomas Wall, a Competent Person who is a Member of the
Australian Institute of Geoscientists. Mr Wall is the Technical Director and a full-time employee of Legacy
Minerals Pty Limited, the Company’s wholly-owned subsidiary, and a shareholder of the Company. Mr Wall has
sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and
to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the
Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Wall consents
to the inclusion of the matters based on his information in the form and context in which it appears in this
announcement.
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About Legacy Minerals
Legacy Minerals is an ASX listed public company that has been involved in the acquisition and
exploration of gold, copper, and base-metal projects in NSW since 2017. The Company has eight
projects that present significant discovery opportunities for shareholders.
Au-Ag Black Range (EL9464, EL9589)
Cu-Au Drake (EL6273, EL9616, ELA6642)
Extensive low-sulphidation, epithermal system with
limited historical exploration. Epithermal
occurrences across 30km of strike.
Large caldera (~150km2) with similar geological
characteristics to other major pacific rim lowsulphidation deposits.
Cu-Au Rockley (EL8926)
Au-Cu (Pb-Zn) Cobar (EL9511)
Prospective for porphyry Cu-Au and situated in the
Macquarie Arc Ordovician host rocks with historic
high-grade copper mines that graded up to 23% Cu.
Undrilled targets next door to the Peak Gold Mines.
Several priority geophysical anomalies and gold in
lag up to 1.55g/t Au.
Au-Ag Bauloora (EL8994, EL9464) Newmont JV
One of NSW’s largest low-sulphidation, epithermal
systems with a 27km2 epithermal vein field.
Cu-Au Glenlogan (EL9614) S2 Resources JV
Large, undrilled magnetic anomaly underneath
Silurian cover located 55kms from Cadia Valley.
Au Harden (EL9257, ELA6694)
Large historical high-grade quartz-vein gold
mineralisation. Drilling includes 3.6m at 21.7g/t Au
116m and 2m at 17.17g/t Au from 111m.
Au-Cu Fontenoy (EL8995) Earth AI Alliance
An 8km long zone of Au and Cu anomalism defined
in soil sampling and drilling. Significant drill
intercepts include 79m at 0.27% Cu from 1.5m.
Figure 8: Legacy Minerals Tenements, NSW, Australia xvi,xvii, xviii,xix
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Appendix 1 – Drake Project Mineral Resource
Mineral Resource Estimate as at 26 March 2024 xx
Deposit
Strauss
Kylo
Resource
Classification
Indicated (JORC
2012)
Inferred (JORC
2012)
Indicated (JORC
2012)
Inferred (JORC
2012)
Sub-Total
Red Rock
Guy Bell
Inferred (JORC
2004)
Inferred (JORC
2004)
Sub-Total
Lady
Hampden
White Rock
White Rock
North
Silver King
Indicated (JORC
2004)
Inferred (JORC
2004)
Indicated (JORC
2004)
Inferred (JORC
2004)
Inferred (JORC
2004)
Inferred (JORC
2004)
Grade
Metal
Tonnes
(Mt)
Au
(g/t)
Ag
(g/t)
Zn
(%)
Cu
(%)
Au
(koz)
Ag
(koz)
Zn
(kt)
Cu
(kt)
2.2
1.48
1.74
0.49
0.08
105
123
10.7
1.7
1.36
0.69
1.81
0.33
0.06
30
79
4.4
0.9
2.14
1.25
1.35
0.19
0.04
86
93
4.1
0.8
0.3
0.41
1.17
0.18
0.05
4
11
0.5
0.1
6
1.17
1.59
0.33
0.06
225
306
19.8
3.5
1.63
1.6
2.2
54
182
0.16
2.5
4.9
13
24
1.79
1.2
3.6
67
206
1.84
0.6
69
37
4056
2.47
0.3
51
27
4023
1.71
77
4214
2.66
47
3978
3.18
52
5314
0.64
59
1218
Sub-Total
8.95
Total (JORC 2012 + JORC 2004)
16.74
0.1
51
64
22803
356
23315
The Strauss and Kylo Mineral Resources have been estimated using a gold cut-off of 0.3g/t Au and
25g/t Ag, 0.1% Cu, 0.1% Pb, and 0.1% Zn. The Guy Bell Mineral Resource has been estimated using a
cut-off of 0.5g/t Au and Red Rock has been estimated using a 0.7g/t Au cut-off. Silver dominant
Mineral Resources (Lady Hampden, White Rock, White Rock North, and Silver King) have been
estimated using a cut-off of 25g/t Ag. The Red Rock, Guy Bell, Lady Hampden, White Rock, White Rock
North, and Silver King Mineral Resources was prepared and reported in accordance with the JORC
Code (2004). The Resources figures have not been updated since to comply with the JORC Code 2012
on the basis that the information has not materially changed since it was last reported.
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ENDNOTES
i
ASX: LGM: 26 February 2024 Artificial Intelligence makes Magmatic PGE-Ni-Cu Discovery.
ii
ASX: LGM: 29 January 2024 S2 Resources enter $6M Farm-in at Glenlogan Porphyry Project.
iii
ASX: LGM: 21 March 2024 and 28 March 2024 Transformational Acquisition - Mt Carrington Cu-Au Project and Clarification
of Mt Carrington Acquisition Announcement.
iv
ASX: LGM 16 April 2024 High-Grade Gold Drilling Underway at Black Range
v ASX LGM: 11 October 2023 Widespread Silica Sinter Confirmed at Black Range
vi ASX LGM: 23 October 2023 Large 2.2km Long Gold Anomaly defined at Black Range
vii ASX LGM: 1 November 2023 High Conviction Drill Targets Defined at Black Range
viii ASX LGM: 19 March 2024 Assays Returned at Bauloora and Portfolio Drilling Update
ix ASX LGM: 16 June 2022 High-Grade Silver, Gold Drill Results, Met-Testing Underway
x ASX LGM: 10 May 2023 Drilling Assays Confirm New Epithermal Discovery at Bauloora
xi Legacy Minerals Prospectus, dated 28 July 2021
xii Cracow Mining Staff, Worsley M R, Golding S D 1990 - Golden Plateau Gold deposits: in Hughes F E (Ed.), 1990 Geology of
the Mineral Deposits of Australia & Papua New Guinea The AusIMM, Melbourne Mono 14, v2 pp 1509-1514.
xiii Fredrik Sahlström, Paul Dirks, Zhaoshan Chang, Antonio Arribas, Isaac Corral, Matthew Obiri-Yeboah, Chris Hall; The
Paleozoic Mount Carlton Deposit, Bowen Basin, Northeast Australia: Shallow High-Sulfidation Epithermal Au-Ag-Cu
Mineralization Formed During Rifting. Economic Geology 2018;; 113 (8): 1733–1767. doi:
https://doi.org/10.5382/econgeo.2018.4611
Geochemistry And Hydrothermal Alteration At The Mount Rawdon Gold Deposit ,Ned Howard, Evolution Mining
Limited,.2015
xiv
Mt Morgan Gold Project, December 2017, Carbine Resources Limited https://carbineresources.com.au/wpcontent/uploads/2017/12/171204_RRS_FINAL.pdf
xv
xvi
CMOC
Northparkes
Mining
and
Technical
Information,
content/uploads/2022/05/northparkes-mining-and-technical-information.pdf
http://www.northparkes.com/wp-
xvii
Alkane Resources Kaiser Resource Estimate of ~4.7M Gold Equivalent 27 February 2023
xviii
Newmont 2023 Reserves Statement
xix
Evolution Mining 2022 Annual Report
xx
ASX LGM: 21March 2024 Transformational Acquisition - Mt Carrington Cu-Au Project
Major Mineral Resources of NSW
Project & Company
Mineral
Resource
Measured
Resource
Indicated
Resource
Inferred
Resource
Boda-Kaiser, NSW (Alkane Resources
Ltd)
7.26Moz Au,
1.38Mt Cu
-
-
7.26Moz Au,
1.38Mt Cu
Cadia and Ridgeway, NSW (2023)
(Newmont Corporation)
35Moz Au, 7.9Mt
Cu
0.30Moz Au,
0.041Mt Cu
30.98Moz Au,
6.97Mt Cu
4.06Moz,
0.91Mt Cu
Cowal, NSW (Evolution Mining
Limited)
9.618Moz Au
0.367Moz Au
7.33Moz Au
1.92Moz Au
Nth Parkes, NSW (Evolution Mining
Limited)
3.09Moz Au,
2.63Mt Cu
1.64Moz
Au,1.2Mt Cu
1.1Moz Au, 1.1Mt
Cu
0.35Moz Au,
0.33Mt Cu
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Rule 5.5
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
LEGACY MINERALS HOLDINGS LIMITED
ABN
Quarter ended (“current quarter”)
43 650 398 897
31 March 2024
Consolidated statement of cash flows
Current quarter
Year to date (9
months)
$A’000
$A’000
1.
Cash flows from operating activities
1.1
Receipts from customers
1.2
Payments for
70
152
exploration & evaluation
-
-
development
-
-
production
-
-
staff costs
(179)
(416)
administration and corporate costs
(272)
(626)
1.3
Dividends received (see note 3)
-
-
1.4
Interest received
-
-
1.5
Interest and other costs of finance paid
-
-
1.6
Income taxes paid
-
-
1.7
Government grants and tax incentives
-
-
1.8
Other (provide details if material)
54
(5)
1.9
Net cash from / (used in) operating
activities
(327)
(895)
2.
Cash flows from investing activities
2.1
Payments to acquire or for:
(a) entitie
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