New 3D modelling of magnetic anomalies has shown the quality of undrilled targets are consistent with an intrusion-related gold and copper deposit model (IRG-Cu), with the company confident the project has untapped belt-scale potential.
Plus, historical drill results have highlighted increased levels of pathfinder elements consistent with IRG-Cu systems adjacent to untested modelled magnetic and/or gravity bodies.
Essentially all of this points to potentially shallower drill targets, Legacy Minerals (ASX:LGM) CEO and MD Christopher Byrne said.
“The new 3D models have provided exceptional insights into the potential for the IRG-Cu systems within the Thomson project,” he said.
“Targeting mineralised zones in IRG-Cu systems can be difficult; however, the Legacy Minerals team and our consultants are very encouraged with the updated magnetic and gravity models as they remain consistent with the interpreted IRG-Cu target model.
“The models have given important resolution to the geometry of previously identified magnetic anomalies and highlight new shallower potential drill targets.”
One clear example of the success of the modelling is the identification of the F4 anomaly, with a strike length of around 3km x 300m around 200m below surface.
The anomaly’s isolated nature, its pipe-like geometry, and magnetism suggest hydrothermal alteration consistent with that seen elsewhere on the Thomson Project, which increases the target’s priority ranking for drilling – which will be funded through the company’s recent $3m capital raise.
The project is covered by younger sediments that range up 280m thick, which historically has partly deterred exploration and has limited the realisation of the project’s potential, the company noted.
But now – with the help of Fleet Space – LGM is aiming to kick off a 3D gravity and passive seismic survey (Ambient Noise Tomography) to refine high-priority targets for drill testing.
The survey will deliver real-time 3D mapping of the underlying geology and then artificial intelligence computing will be applied to the geophysical and new drill assay data to help increase the potential for a successful mineral discovery at the project.
“We believe that the Thomson project has the potential to host a new intrusion-related gold and copper mineral system and is poised for a major discovery in the region,” Byrne said.
“The addition of Fleet Space’s global knowledge of the geophysical characteristics of these systems and their cutting-edge AI and seismic technology makes them a tremendous addition in our search for globally significant deposits.”
The company is also planning to sample previously unsampled historic drill core from the project, which will commence shortly to inform future drill targeting.
These assays are expected in early Q1, 2025 and could potentially expand previously known mineralised drilling intercepts and provide vectors towards IRG-Cu mineralisation for future drill testing.
