Wedoany.com Report on Mar 13th, Legacy Minerals (ASX:LGM) recently provided an update on the operational progress at the Mascotte silver-gold exploration area within its Mt Carrington project in New South Wales. Drilling work is nearing completion, and the company is advancing a scoping study. At the Mascotte exploration area, six out of eight planned drill holes have been completed. Drilling results have revealed zones of fine-grained sulphide mineralisation associated with hematite and adularia alteration within veins and breccias.

The Mascotte exploration area, defined based on historical work, has seen drilling intersect high-grade silver mineralisation, including an intercept of 18.3 meters grading 237 g/t silver from 3 meters depth, with 9 meters grading 394 g/t silver. The main strike trend of the area is approximately 1.3 kilometers and may contain parallel mineralised structures. Recent airborne Mobile-MT data has identified a conductive linear zone extending to the northeast, which shows a broad association with known mineralisation.

Managing Director Christopher Byrne stated: "The company is pleased with the discovery-focused drilling update. As of January 30, 2026, Mt Carrington holds a Mineral Resource of 115 million ounces of silver equivalent and approximately A$10 million in cash, positioning the company well to advance its discovery and development strategy. The current drilling targets silver and gold mineralisation at the Mascotte exploration area, with the penultimate hole of the initial eight-hole program currently in progress. It is very encouraging that the drilling has intersected extensive zones of very fine-grained sulphide mineralisation within veins and breccias, in a style similar to mineralisation observed in other deposits within the Mt Carrington region."

In addition to drilling activities, Legacy Minerals is progressing its 2026 scoping study. The mining schedule and pit optimisation have now been completed, with process plant engineering and financial modelling underway. The company expects to release the scoping study by mid-April 2026. Legacy Minerals is a gold, silver, copper, and base metals exploration company operating in New South Wales, Australia, focused on resource exploration and development.