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The Central Cobar licence is located within the central sub-province of the Lachlan Fold Belt. It covers 24km of prospective strike length immediately adjacent to the Cobar Gold Field (~>7Moz equivalent). The project area is considered highly prospective for structurally controlled massive sulphide deposits (Cobar Style), and quartz-sulphide vein deposits.

Cobar Style deposits are typically high-grade precious and base-metal deposits. They have a steeply plunging “pipe-like” geometry with short strike lengths and persistent depth extent. Most sit within smaller displacement faults in proximity to first order faults such as the Rookery, Myrt and Buckwaroon Faults. LGM believes there is strong supporting evidence for the interpreted prospectivity of the tenement based on the current understanding of mineralising fluid sources, structural architecture, fluid pathways and depositional characteristics.

​The tenement contains numerous untested late time electromagnetic (AEM) conductors, coincident with faults, aeromagnetic and induced polarisation targets; anomalous pathfinders in soil and rock chip samples including significant gold in surface lag samples; and magnetics indicate encouraging structural complexity and antiforms.

Prospective for high-grade gold and base metal deposits

Operating mills nearby with potential capacity for high grade ore feed

Excellent local infrastructure and skilled workforce

Close proximity to, and containing favourable host rock sequences

Favourable fault structures coincident with anomalous geochemistry

Magnetic anomalies and discontinuities indicate structural complexity

Close proximity to major Au/Cu (Pb/Zn) deposits including Great Cobar, New Occidental, Peak, Perseverance, New Cobar and Chesney mines

Tenement hosts structures along strike of the Langtons Prospect (ASX:AMI) that has RAB drilling intersections up to 2m @ 12 g/t Au.

Within 2.6km of the operating Peak Gold Mine mill

Depth of cover is shallow and regolith amenable to low cost exploration

Low sovereign risk jurisdiction with highly skilled mining workforce

Clear exploration strategy given current lack of systematic exploration over the tenement