Legacy Minerals Launches 10,000-Metre Diamond Drilling Programme at Fontenoy

Major Drilling Campaign Targets Platinum-Copper-Gold Potential at Fontenoy

Legacy Minerals (ASX:LGM) has commenced a substantial 10,000-meter diamond drilling program at its Fontenoy Project in New South Wales, targeting newly identified electromagnetic conductors with potential for significant platinum group elements (PGE), nickel, and copper-gold mineralisation.

Ambitious Exploration Program Tackles High-Priority Targets

Legacy has launched what could be a transformative drilling campaign comprising 17 diamond drill-holes across the Fontenoy Project. The program is specifically designed to test high-priority conductivity features identified through a recent Versatile Time Domain Electromagnetic (VTEM) survey, along with step-out drilling from previous successful intersections.

Importantly for shareholders, this substantial exploration effort comes at no direct cost to Legacy, as it's fully funded through the company's Farm-in Joint Venture agreement with Earth-AI.

"The recently completed airborne electromagnetic survey has given the Earth AI team great encouragement to undertake a significant drilling program that will test multiple high-priority platinum group element-copper-gold targets across the Fontenoy Project." – Christopher Byrne, CEO

Newly Identified Conductive Zone Shows Major Potential

The standout target from the VTEM survey is a large, strike-extensive electromagnetic conductor that shows promising characteristics for hosting significant mineralisation. This conductive anomaly is particularly exciting because:

1. Previous drilling has already intersected the periphery of this anomaly, demonstrating a potential relationship between PGE mineralisation and conductivity.

2. The main "neck" of the conductivity anomaly – which remains untested – is strategically located adjacent to previous significant drill results.

3. The increased conductivity potentially reflects accumulated sulphides within the host rock – often a key indicator of significant mineralisation.

Historical drilling in the vicinity has produced notable results, including:

• 120m at 0.30g/t PGE from 298m, including 10m at 1.2g/t 3E PGE from 388m
• 19.8m at 0.19g/t Au and 0.33% Cu from 39.9m
• 22m at 0.67g/t Au and 0.34% Cu from 20m

Understanding the Norilsk Connection: What It Means for Investors

The geological characteristics at Fontenoy bear striking similarities to the world-famous Norilsk complex in Russia – one of the world's most significant nickel-copper-PGE deposits. This comparison provides important context for investors evaluating Fontenoy's potential.

What Makes a Norilsk-Type Deposit?

Norilsk-type deposits are characterised by:

• Mafic-ultramafic intrusive complexes with layered textures
• Rocks ranging from picrites and peridotites to gabbros
• Elevated chromium concentrations and high palladium-to-platinum ratios
• Disseminated magmatic nickel sulphide mineralisation

At Fontenoy, Legacy has identified similar characteristics, including:

• Complex, taxitic layered textures in the mafic-ultramafic intrusion
• Presence of platinum arsenide sperrylite and other PGE minerals
• Sulphides occurring interstitially within cumulate textures (indicating magmatic origin)

The identification of euhedral sperrylite and sudburyite crystals intergrown with Pd-Cu alloy as inclusions in olivine is particularly significant, as it suggests primary magmatic origin and early formation of PGE minerals. This relationship indicates a fertile magmatic system with potential for substantial Ni-Cu-PGE mineralisation.

Project Context and Historical Success

The Fontenoy Project covers prospective Ordovician-aged geological units including the Yandilla Volcanics, Warrenoy Diorite, and ultramafic rocks of the Wambidgee Serpentinite. These units are known to be favourable for hosting PGE, copper-nickel, and gold mineralisation.

Previous exploration has already demonstrated the project's potential, with disseminated and veined copper-gold mineralisation extending over approximately 8km of strike length within the Yandilla Volcanics.

Earth-AI Partnership Enhances Exploration Approach

The partnership with Earth-AI brings advanced exploration technology to the Fontenoy Project. Earth-AI plans to implement its artificial intelligence deposit targeting system to generate and refine drill targets across the tenement.

This technology-driven approach is complemented by on-ground geophysical and geochemical work, potentially accelerating the discovery timeline compared to conventional exploration methods.

What Are Platinum Group Elements (PGEs)?

Platinum Group Elements (PGEs) comprise six precious metals: platinum, palladium, rhodium, ruthenium, iridium, and osmium. These metals are highly valued for their:

• Catalytic properties: PGEs are essential components in catalytic converters that reduce harmful emissions in vehicles.
• Chemical resistance: Their exceptional resistance to corrosion makes them valuable for laboratory equipment and industrial applications.
• Electrical conductivity: PGEs are used in electronic components due to their excellent electrical properties.
• Rarity: PGEs are among the rarest elements in the Earth's crust, making economically viable deposits extremely valuable.

PGE deposits are typically associated with mafic-ultramafic intrusive rocks where the metals concentrate during magmatic processes. The presence of PGEs often indicates a complex mineralising system that may also contain significant nickel, copper, and gold values.

Next Steps and Potential Catalysts

In addition to the legacy minerals diamond drilling program currently underway, Earth-AI intends to follow up on the conductivity anomalies with 3D IP (Induced Polarisation) surveys. These surveys will:

1. Investigate the depth and extent of the anomalies
2. Evaluate the applicability of this geophysical technique to the Fontenoy Project
3. Further refine exploration targets for subsequent drill testing

These activities represent multiple potential near-term catalysts for the company as results are progressively reported.

Why Investors Should Watch Legacy Minerals

Legacy Minerals presents a compelling investment case based on several key factors:

1. Strategic Asset Portfolio: Beyond Fontenoy, Legacy holds ten diverse projects across NSW targeting gold, copper, and base metals, providing multiple pathways to success.

2. Funded Exploration: The Earth-AI partnership funds exploration at Fontenoy, preserving cash for other opportunities.

3. Norilsk-Type Potential: The geological similarities to one of the world's premier nickel-copper-PGE deposits provide significant upside potential.

4. Technical Approach: The combination of advanced geophysics, artificial intelligence targeting, and systematic drilling represents a sophisticated exploration strategy.

5. Near-Term Catalysts: The ongoing 10,000m drill program will generate consistent news flow as results are reported.

As drilling progresses at Fontenoy, investors should pay particular attention to conductivity measurements in conjunction with PGE values, as this relationship may prove key to unlocking higher-grade zones characteristic of world-class magmatic sulphide systems.

Want to Be Part of Legacy Minerals' Exploration Journey?

For investors seeking exposure to PGE, copper and gold exploration potential, Legacy Minerals' Fontenoy Project presents a compelling opportunity. With a major 10,000-metre drilling campaign now underway and similarities to world-class Norilsk-type deposits, the company is positioned for potential discovery success. To learn more about this ASX-listed explorer and stay updated on drilling results from this exciting project, visit www.legacyminerals.com.au today.