Legacy Minerals Launches Ground Geophysics at Mt Carrington Battery and Mascotte

Legacy Minerals Fires Up Ground Geophysics at Mt Carrington, Targeting High‑Grade Gold, Silver, and Copper

Legacy Minerals Holdings Ltd (ASX: LGM) has commenced its first ground geophysical surveys at the Battery and Mascotte Prospects within the Mt Carrington Project in New South Wales. The Legacy Minerals Mt Carrington ground geophysics at Battery and Mascotte prospects marks a significant step forward, with these Dipole‑Dipole Induced Polarisation (DDIP) surveys focused on defining extensions to high‑grade gold‑silver breccia zones at Mascotte and vectoring towards potential higher‑grade copper mineralisation at Battery.

The program is being carried out by specialist contractor Fender Geophysics, with on‑ground work expected to be completed within three weeks and results anticipated shortly after data processing and interpretation.

"The commencement of the DDIP survey at the Battery and Mascotte prospects represents an important step forward in unlocking the potential of these highly potential target areas. Our technical team identified strong evidence for a well‑mineralised epithermal gold‑silver system at Mascotte and a potentially large, fertile copper system at Battery. These surveys will deliver critical subsurface data to refine our geological model and support the design of follow‑up targeted drilling programs."

— Christopher Byrne, CEO & Managing Director, Legacy Minerals Holdings Ltd

Legacy Minerals Holdings Ltd reports that this work forms part of a broader exploration and study pipeline at Mt Carrington that includes a new Mineral Resource Estimate (MRE), an updated Scoping Study, and active drilling at the Emu Prospect.

What Is Happening on the Ground at Mt Carrington?

Fender Geophysics has mobilised field crews to Mt Carrington and commenced running DDIP survey lines across the Mascotte and Battery target areas. According to Legacy Minerals Holdings Ltd, the focus is on high‑priority lines that directly test zones of known mineralisation and mapped alteration.

Key elements of the current DDIP program include:

• Six priority DDIP lines designed over Mascotte, targeting mineralisation intersected in earlier drilling and observed at surface.
• A survey objective to detect large accumulations of disseminated sulphide and/or silicification at depth, which may indicate buried epithermal boiling zones or porphyry‑style copper systems.
• Fieldwork expected to be completed within three weeks, subject to terrain and operating conditions.
• Survey results to be integrated with surface sampling and geological mapping to refine drill targeting at Mascotte and Battery.

The company reports that field crews are actively establishing and running lines across challenging terrain, as shown in site imaging referenced in the ASX announcement.

Understanding DDIP and Why It Matters

What Is Dipole‑Dipole Induced Polarisation (DDIP)?

Induced Polarisation (IP) is a geophysical method that measures how the ground temporarily holds an electrical charge when a current is passed through it.

In practical terms:

• Electrodes are placed in the ground and an electrical current is applied.
• When the current is turned off, some rocks release the stored charge more slowly.
• This delayed response is called chargeability.

Rocks that contain sulphide minerals, such as those often associated with gold, silver and copper mineralisation, tend to show higher chargeability. This makes IP a useful tool for identifying zones that may host sulphide‑bearing mineralisation without having to drill every target.

The dipole‑dipole configuration refers to the specific spacing and arrangement of current and potential electrodes. It is commonly used where good horizontal and vertical resolution is needed and where the aim is to detect both near‑surface and deeper targets along a line.

Why Use DDIP at Mascotte and Battery?

Legacy Minerals Holdings Ltd has stated that the primary aim of the Mascotte DDIP survey is to detect disseminated sulphide and silicification — hard, silica‑rich zones that can be associated with fluid pathways and mineral deposition.

These characteristics can mark:

• Epithermal gold‑silver boiling zones, formed where hot fluids cooled and deposited metals at shallow depths.
• Porphyry copper systems, which are large, intrusive‑related copper and gold deposits.

At Mascotte, DDIP is furthermore expected to help trace extensions to high‑grade breccia zones already intersected in drilling, as well as assess whether mineralisation continues at depth or along strike. At Battery, the objective is to vector towards potential higher‑grade copper mineralisation, following geochemical and geological indications of a fertile copper system.

For investors, geophysical surveys such as DDIP can improve targeting of future drill holes, reduce the risk of drilling low‑priority locations, and provide a better three‑dimensional understanding of how mineralised systems extend beyond currently drilled areas.

What Previous Drilling Has Shown at Mascotte

According to Legacy Minerals Holdings Ltd, prior drilling at Mascotte has already intersected encouraging gold and base metal mineralisation, with the discovery remaining open at depth and along strike. The current DDIP program is intended to support definition of extensions to this mineralisation.

Key intersections previously reported at Mascotte include:

These results indicate gold mineralisation over tens of metres in width, with local zones carrying very high grades of lead (Pb) and zinc (Zn) alongside elevated silver (Ag).

The current Legacy Minerals Mt Carrington ground geophysics at Battery and Mascotte prospects program is consequently aimed at identifying chargeability and resistivity responses that correlate with these breccia‑hosted zones, while also highlighting potential down‑dip or along‑strike continuations not yet tested by drilling.

Mt Carrington: Project Context and Multi‑Commodity Exposure

The Mt Carrington Project is described by Legacy Minerals Holdings Ltd as a large caldera system of about 150 km², with geological similarities to major Pacific Rim low‑sulphidation deposits. The project currently hosts a Mineral Resource of 1.2 million ounces gold‑equivalent (AuEq), which the company also expresses as 115 million ounces silver‑equivalent (AgEq).

Mt Carrington is being advanced as a copper‑gold‑silver project, with additional exposure to lead and zinc at specific prospects such as Mascotte. The company's broader New South Wales exploration portfolio includes:

This broader portfolio means that Legacy Minerals Holdings Ltd is exposed to multiple commodities and geological settings, while Mt Carrington remains its main focus for resource development work.

Multiple Workstreams: What Comes Next at Mt Carrington?

According to the ASX announcement, the DDIP program is one part of a coordinated sequence of technical work at Mt Carrington. In addition to the geophysical surveys, the company is advancing several parallel workstreams designed to support future study and drilling decisions.

Key Activities and Indicative Timing

Legacy Minerals Holdings Ltd outlines the following sequence of work:

• Complete drilling at the Emu Prospect, then move the drill rig to Mascotte for follow‑up drilling.
• Finalise an updated Mineral Resource Estimate for the Mt Carrington Project.
• Commence Scoping Study Optimisation once the new MRE is available.
• Integrate DDIP survey results with mapping and sampling before collaring new drill holes at Mascotte and Battery.

For investors, this schedule suggests that several data and news points are expected in a relatively short period, including geophysical survey interpretations, assay results from ongoing drilling, and an updated resource statement.

Why This Matters to Investors

From an investor perspective, the current phase at Mt Carrington is characterised by a number of important developments:

1. First ground geophysics at Mascotte and Battery — These DDIP surveys represent the first application of this ground‑based method over two high‑priority prospects, potentially providing new subsurface context beyond what drilling and mapping alone have offered.

2. Targeting extensions of known mineralisation — The program has been explicitly designed to define potential extensions to high‑grade gold‑silver breccia zones at Mascotte and to guide future copper‑focused drilling at Battery.

3. Data feeding directly into drilling plans — Legacy Minerals Holdings Ltd has stated that DDIP results will be combined with surface sampling and mapping ahead of planned drilling, supporting a more informed and efficient future program.

4. Upcoming resource and study milestones — A new MRE and Scoping Study optimisation are planned once current technical work is complete, representing key reference points for assessing project scale and conceptual economic potential.

5. Portfolio context — While Mt Carrington is the current development focus, Legacy Minerals Holdings Ltd continues to hold a pipeline of projects across New South Wales, providing additional optionality across gold, silver, copper, nickel, cobalt, lead, zinc, and platinum group elements.

Legacy Minerals is entering one of its most data‑intensive exploration phases at Mt Carrington, with ground geophysics, drilling, and a new Mineral Resource Estimate all progressing in parallel. With mineralisation at Mascotte reported as remaining open at depth and along strike, and the Legacy Minerals Mt Carrington ground geophysics at Battery and Mascotte prospects now designed to refine high‑priority targets, the company is positioning itself for a sequence of technical and resource‑related updates over the coming weeks.

Glossary of Key Terms

• DDIP (Dipole‑Dipole Induced Polarisation): A geophysical survey method where an electrical current is passed through the ground and the delayed voltage response is measured. It is often used to detect sulphide minerals that may host gold, silver or copper.
• Epithermal system: A mineral deposit formed from hot fluids at shallow depths in the crust. Epithermal systems can host high‑grade gold and silver veins or breccias.
• Porphyry copper system: A large mineral deposit type related to intrusive igneous rocks. These systems typically contain widespread, lower‑grade copper (and sometimes gold) that can be mined in bulk.
• Mineral Resource Estimate (MRE): A formal estimate of the size and grade of a mineral deposit, reported to standards such as the JORC Code. It is used as a basis for economic studies.
• Scoping Study: An early‑stage economic assessment that examines whether a project may justify further technical and financial evaluation.
• AuEq (gold equivalent): A method of combining the value of several metals into a single gold‑equivalent figure, using relative metal prices and recoveries.
• Boiling zone: In an epithermal system, the depth where hot fluids change from liquid to vapour. This zone can be a focus for gold and silver deposition.
• Strike: The direction or line of extension of a geological feature, such as a vein or orebody, on a horizontal plane.

Ready to Learn More About Legacy Minerals and the Mt Carrington Project?

With ground geophysics now underway at two high-priority prospects, an updated Mineral Resource Estimate expected within weeks, and active drilling at Emu progressing in parallel, Legacy Minerals Holdings Ltd (ASX: LGM) is entering one of its most active technical phases to date. Investors seeking to understand the full scope of the Mt Carrington Project — including its 1.2 Moz AuEq resource, multi-commodity exposure, and broader New South Wales exploration portfolio — can find further information by visiting www.legacyminerals.com.au.