I decided to update my personal summary of Legacy's portfolio...

I decided to update my personal summary of Legacy's portfolio with the latest news and possible timelines taken from announcements and updates as they get released. Some of the notes are for my learning. Sharing here for visibility.

Legacy Exploring the followingdeposit types:

• Epithermal - smaller, nuggety, but higher grade and usually close to surface (surface to 400+ metres deep) - cheaper to mine
• IOCG - larger, lower grade, potentially starting from 200+ meters to ??? depth - think they can still be open cut, so not too expensive to mine - can be very economical
• Porphyry - very large lower grade, deep deposits, often starting from 600+ metres - underground mine, very expensive but can be huge and just keep on giving for decades
• Cobar-style deposit: "A Cobar-style deposit is a large-scale, high-grade deposit characterised by a small footprint in a deep vertical extension within a polymetallic ore body. This type of deposit is valuable because it allows for the extraction of multiple metals from a single deposit, reducing mining costs and increasing profitability."
• PGE – Platinum Group Elements

• Bauloora - Newmont (Farm-in Agreement) – Au/Cu/Pb+Zn
  • Low-sulphidation Epithermal
  • First phase drilling completed 9th March - mixed results
  • Second phase drilling started 6th June
  • 29 km2 vein field at surface – grade is definitely there, we just need to hit it.
  • May continue drilling at Bauloora again before end of year
  • 8-hole DD program commenced 6^th June – up to 1,300 metres
  • First assays expected early September
    
    
• Fontenoy – Earth AI (Earn-in Agreement) - PGE-Ni-Cu
  • Earth AI - (Platinum Group Elements) – primarily Palladium + Platinum
  • First results received 27th Feb – announced initial discovery (not significant)
  • PGE Gravity Survey complete and high conviction targets identified
  • Diamond Drilling began early August- running for 2 months
  • Drilling testing highest PGE anomalism
  • First assays expected late Sept/Oct
    
    
• Glenlogan – S2R (Farm-in Agreement) – Cu/Au
  • Porphyry
  • S2 Resources planning drill program
  • Binary nature of outcome – copper/gold porphyry giant – discrete 600m wide body that plunges for over 1km
  • Same cover sequence as Cadia – undercover porphyry – elevated magnetic responses, discrete magnetic zone – looks like a textbook porphyry target – very high conviction – if it’s there they will hit it
  • Drilling commenced 18^th July
  • Assays expected Oct
    
    
• Drake – LGM 100% - Au/Cu
  • Low sulphidation Epithermal but possibly also porphyry deposits – big magmatic driver as well, have found porphyry D-veins (eg. Magmatic caldera)
  • Strong gold and copper story – but very large mineralised area, spread widely so they will be taking careful approach, takes time
  • Already 320kOz Au and 23Moz Ag discovered in open pit resources
  • Digitisation of historical data – update to market expected end June
  • Q3/Q4 2024 – field campaigns and drill target identification
  • Q4 possibly geophys surveys
  • 2 granted and 1 pending licence application
  • August 2024 – permitting underway – unclear on drilling timeline, possibly early 2025?
    
    
• Cobar – Helix (Earn-in Agreement) – Au/Cu/Pb/Zn
  • Cobar-style deposit – polymetallic
  • Coming back on the radar – lots of field work underway
  • Doing geochem and geophys on this tenement
  • 19 August 2024 - Farm-in agreement with Helix Resources
  • Minimum commitment of further geophysics and 700m drilling within 12 months
  • Helix may try and drill before end of year or early next year
    
    
• Blackrange – LGM 100% - Au/Ag
  • Low-sulphidation Epithermal
  • Drilling started 14th April
  • Assays submitted around 9^th May
  • Assays received in early July with no significant mineralisation
  • Team to go back to geophysics to identify new targets
  • Project seems to be deprioritised currently
  • No ETA on next drill campaign.
    
    
• Thomson – LGM 100% - Cu/Au
  • Iron Oxide Copper-Gold (IOCG)and Intrusion Related Gold (IRG)
  • Acquired 24^th June 2024
  • Starting with geophysics, Geochem and machine learning to refine drill targets
  • Gravity survey > magnetic and gravity modelling > drilling
  • Cover sequence geophysically transparent for gravity, magnetics, IP and potentially ground EM.
  • Shallow cover means cost-effective discovery rates
  • Likely drill via earn-in partnership – S2R??
  • No timeline advised