Legacy Minerals Launches CSIRO Field Programme at 115Moz Mt Carrington

CSIRO Boots on the Ground: Legacy Minerals Activates Advanced Science at Mt Carrington's 115Moz Silver-Equivalent Project

The Legacy Minerals Mt Carrington CSIRO field program at the 115Moz silver equivalent project has officially commenced, with researchers now physically on site at the flagship Mt Carrington Project in northern New South Wales. This marks the beginning of a multi-week field campaign under a collaborative research programme supported by the CSIRO Kick-Start Program. The on-site activation follows the collaboration agreement announced in April 2026 and represents the first field phase of a programme designed to sharpen exploration targeting ahead of the next drilling campaign at a project hosting an existing 115Moz silver-equivalent (AgEq) Mineral Resource.

This is a meaningful step forward — not just in terms of technical progress, but in what it signals for Legacy Minerals' positioning as a junior explorer with access to analytical capabilities well beyond what most companies at its stage can deploy.

What's Actually Happening on the Ground?

The CSIRO team is currently working alongside Legacy Minerals' technical personnel across four priority deposits: Strauss, Kylo, Guy Bell, and White Rock North, with additional prospect-scale logging extending across the broader Mt Carrington field.

The on-site work programme centres on two key activities:

• Structural logging of oriented drill core — capturing detailed fault, vein, and fabric data from existing drill holes to build 2D and pseudo-3D structural models of the system
• Sample selection and collection — identifying representative drill core and RC chip samples for transfer to CSIRO laboratories, including the selection of high-grade ore samples designated for MAIA mapper scanning

These activities set up the next phase of laboratory analysis, which will include SEM-TIMA, LIBS, and p-XRF integration work at CSIRO facilities. Results and structural interpretations are expected to be delivered progressively over approximately the next nine months.

The total programme value is $196,000, which includes a $50,000 matched contribution from the CSIRO Kick-Start Program.

CEO & Managing Director Christopher Byrne commented:
"It is excellent to have the CSIRO team on site at Mt Carrington progressing the field component of the collaboration we announced in April. Working alongside CSIRO researchers gives our technical team direct access to analytical techniques that are not typically accessible to junior explorers. Previous drilling and results indicate that this system has the potential for a Tier-1 gold-silver and copper deposit, and the programme is designed to improve our understanding of alteration and structural controls on mineralisation."

Understanding the Technology: Why SEM-TIMA, LIBS, and MAIA Matter

For investors less familiar with exploration analytics, the three primary analytical tools being deployed here are worth understanding — because together they represent a level of mineralogical and geochemical precision that meaningfully changes what a company can do with its existing drill data.

SEM-TIMA (Scanning Electron Microscopy – TESCAN Integrated Mineral Analyser)

This tool provides automated, high-resolution mineral identification at the microscopic scale. It can identify exactly which minerals are present in a sample, their textures, grain sizes, and associations — information that is critical for understanding how gold and silver are locked within the rock and how they might be extracted. For targeting purposes, SEM-TIMA can reveal alteration zonation patterns that indicate proximity to mineralised centres.

LIBS (Laser-Induced Breakdown Spectroscopy)

LIBS fires a laser at a sample surface and reads the light emitted to determine elemental composition rapidly across a drill core. Furthermore, it enables high-resolution geochemical profiling of drill core at speed, identifying subtle trace element patterns that can vector toward higher-grade mineralisation.

MAIA Mapper (High-Definition X-Ray Fluorescence Microscopy)

The MAIA mapper produces high-definition elemental maps of ore samples, revealing the spatial distribution of gold, silver, copper, and associated elements at fine scales. For an epithermal system like Mt Carrington, this helps decode the structural and chemical pathways that controlled where the highest grades were deposited.

Why it matters for investors: These techniques are not routinely accessible to junior explorers. Gaining access to them through the CSIRO collaboration means Legacy Minerals can extract significantly more intelligence from existing drill core without spending on new drilling — before then applying that intelligence to sharpen the targeting of future holes.

The Mt Carrington Resource: What the Programme Is Working With

The existing Mineral Resource at Mt Carrington provides important context for why this technical work matters. The project hosts a multi-deposit, district-scale resource base, summarised below.

Mt Carrington Mineral Resource Summary (AgEq Basis)

The resource encompasses 34.4 million tonnes across ten deposits, with contained metal of approximately 653,000 oz gold, 24.3 million oz silver, 20,000 tonnes copper, 33,000 tonnes lead, and 146,000 tonnes zinc on a combined basis.

Importantly, the CSIRO programme is focused on deposits including Strauss, Kylo, Guy Bell, and White Rock North — collectively representing a substantial portion of the current resource base and the areas management has identified as offering the strongest potential for resource extension and discovery.

High-Grade Drill Results From Focused Deposits Illustrate the System's Potential

The structural logging and sample selection currently underway at Strauss, Kylo, and White Rock is being conducted on drill core that has already returned some striking individual intercepts. These results highlight the geological character of the system.

Kylo-Strauss

• KYDD001 at 62.5m: 11.9% Cu, 2% Zn — interpreted porphyry D vein lode comprising quartz-pyrite-chalcopyrite
• KYDD011 at 140.5m: 99.7 g/t Au, 3.17% Cu, 231 g/t Ag — quartz-sulphide lode in andesite porphyry

Red Rock

• RRDD005 at 52.5m: 6.6 g/t Au, 12.2 g/t Ag — sigmoidal vein in andesite
• RRDD019 at 62.5m: 4.11 g/t Au, 6.3 g/t Ag — sulphide fill breccia

White Rock

• WRDD026 at 78.3m: 632 g/t Ag — marcasite overprinting red sphalerite
• WRDD022 at 42.2m: 529 g/t Ag — quartz-pyrite breccia

These results are not new; however, they are highly relevant as context for what the CSIRO programme is designed to build on. The SEM-TIMA and structural logging work aims to understand why and where intercepts of this quality occur — and where analogous or superior mineralisation might exist untested.

The Roadmap Ahead: Nine Months of Progressive Deliverables

The programme is structured to deliver results progressively, with the field component already underway and laboratory work to follow as samples are transferred to CSIRO facilities.

Programme Timeline

The company has confirmed it will report material outcomes as they are received, meaning investors can expect a series of potentially catalytic updates over the balance of 2025 and into 2026.

This programme also directly complements the recently released Mt Carrington Scoping Study (announced 4 May 2026), which confirmed the project's development potential. Consequently, the CSIRO collaboration now sits alongside that economic work to strengthen the technical framework underpinning future drilling decisions.

Why This Matters for the Investment Case

Several elements of this development are worth examining through an investment lens.

1. Technical Leverage Without Drilling Cost

The programme extracts additional value from existing drill core through advanced analytics. This means Legacy Minerals is building its targeting confidence before committing to drilling expenditure — a capital-efficient approach to de-risking the next phase of work.

2. Access to Institutional-Grade Science

Junior explorers typically operate with standard assay workflows. Access to SEM-TIMA, LIBS, and MAIA mapper analysis via the CSIRO collaboration puts Legacy Minerals in a materially different technical position when it comes to understanding mineralisation controls at Mt Carrington.

3. Multiple Catalyst Points Over Nine Months

Progressive delivery of results over approximately nine months creates a series of potential news flow catalysts for investors tracking the stock. Each structural model or alteration interpretation released represents a step toward the next drilling decision.

4. A Large, Multi-Deposit Resource Base to Build From

The 115Moz AgEq Mineral Resource across ten deposits in a 393km² district-scale tenure position provides a meaningful foundation. The CSIRO work is focused on understanding how to extend and add to this resource, not simply validate what's already known.

5. Scoping Study Provides Economic Context

The recently completed Scoping Study (May 2026) provides an independent economic framework for the project, meaning the technical improvements being pursued through the CSIRO programme now have a direct line to potential project value enhancement.

Understanding Epithermal Systems: The Geological Context

Mt Carrington represents a district-scale epithermal gold-silver system within the New England Fold Belt of northern New South Wales. Understanding this geological context helps explain why the Legacy Minerals Mt Carrington CSIRO field program at the 115Moz silver equivalent project matters for targeting future exploration.

What Is an Epithermal System?

Epithermal deposits form from hot, metal-bearing fluids that circulate through volcanic rocks at relatively shallow depths beneath ancient volcanoes. These systems can produce exceptionally high-grade gold and silver mineralisation concentrated in vein structures and breccia zones.

The Mt Carrington System Characteristics

• Host rocks: Permian volcano-sedimentary sequence dominated by andesites and associated volcaniclastics
• Mineralisation style: Low-to-intermediate sulphidation epithermal veins, stockwork zones, and disseminated mineralisation
• Structural setting: Large circular caldera complex characterised by extensive phyllic to silicic alteration
• Scale: District-scale system extending across 150km² within a low magnetic signature zone

Why This Matters for Exploration

Epithermal systems typically display strong zonation patterns — areas of intense alteration and high-grade mineralisation grade outward into broader zones of lower-grade mineralisation and distinctive alteration halos. In addition, the SEM-TIMA and MAIA mapper analysis can identify these zonation patterns with precision, helping to vector toward unexplored high-grade centres.

The structural logging component focuses on understanding the fault and vein geometries that controlled fluid flow and metal deposition. In epithermal systems, these structural controls are often repeatable — meaning similar geological settings within the district may host similar high-grade mineralisation.

Why Investors Should Keep Mt Carrington on Their Radar

Legacy Minerals is at an interesting inflection point. The company has a defined, district-scale resource base, a recently completed Scoping Study, and now a multi-month technical programme underway with one of Australia's leading scientific research organisations.

The combination of economic study and advanced technical analysis positions the company to enter its next drilling programme with more precision and confidence than most junior explorers can muster. The geological system at Mt Carrington — a low-to-intermediate sulphidation epithermal field within a large caldera complex — has already demonstrated high-grade gold, silver, and copper potential across multiple deposits.

What the CSIRO programme is designed to do is convert that geological complexity into actionable drill targets. For investors, the next nine months represent a period of progressive technical revelation, with each deliverable adding a layer of understanding to a project that management has described as having the potential for a Tier-1 gold-silver and copper deposit.

Key Takeaway:
The Legacy Minerals Mt Carrington CSIRO field program at the 115Moz silver equivalent project represents one of the more technically sophisticated exploration programmes currently underway in the junior sector. With the field phase now underway and results expected progressively over the next nine months — alongside a recently completed Scoping Study — the company is building the technical foundation for a potentially transformative drilling campaign. Investors should watch closely as structural models and targeting recommendations emerge.

Glossary of Key Terms

AgEq (Silver Equivalent): A method of expressing the combined value of multiple metals (gold, silver, copper, zinc, lead) as a single silver-equivalent figure, using metal price ratios and recovery factors.

Epithermal deposit: A type of gold or silver deposit formed at relatively shallow depths from hydrothermal fluids. These systems can carry very high grades in vein structures and are characteristic of volcanic environments like Mt Carrington.

SEM-TIMA: Scanning Electron Microscopy – TESCAN Integrated Mineral Analyser. An automated system that identifies minerals, textures, and associations at microscopic resolution.

LIBS: Laser-Induced Breakdown Spectroscopy. A rapid elemental analysis technique that uses laser pulses to profile chemical composition along drill core.

MAIA Mapper: A high-definition X-ray fluorescence microscopy system that produces detailed elemental maps of samples, revealing how metals are distributed at fine scales.

Structural logging: Systematic recording of geological structures (faults, veins, foliations) in drill core to understand the geometry and controls on mineralisation.

Oriented drill core: Drill core that has been marked to preserve its original orientation in the ground, allowing structural measurements to be correctly positioned in 3D space.

Kick-Start Program: A CSIRO programme that provides matched funding contributions to support collaborative research projects between CSIRO and industry partners.

JORC Code: The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves — the standard under which Australian mineral resource estimates are publicly reported.

Ready to Dig Deeper Into Legacy Minerals' Mt Carrington Opportunity?

With CSIRO researchers now physically on site, a 115Moz AgEq Mineral Resource across ten deposits, and a series of progressive technical deliverables expected over the next nine months, Legacy Minerals is building the scientific foundation for what management believes could become a Tier-1 gold-silver and copper deposit. For investors looking to understand the full scope of the Mt Carrington Project — including the recently completed Scoping Study and the advanced analytical programme now underway — visit www.legacyminerals.com.au to explore the company's project portfolio, technical updates, and investment case in detail.