Legacy Minerals' Drake Project Review

Legacy Minerals Holdings Limited (ASX:LGM) has announced the identification of significant high-grade antimony mineralisation following the review of historical exploration at its 100%-owned Drake Project located in NSW, Australia. The rock sample results include historical pre-1989 exploration results, and the Company plans to undertake further sampling in 2024 using existing funds.

Executive Commentary on Drake Project

Legacy Minerals CEO & Managing Director Christopher Byrne expressed excitement about the ongoing review of the Drake Project, highlighting the impressive discovery potential. The high-grade antimony and gold numbers from the Lunatic Field demonstrate an area of untested potential and exploration upside for the critical resource of antimony. Byrne emphasized the strategic importance of antimony, especially with recent price increases and China's export restrictions, positioning it as a vital element in high-technology equipment and underlining its significance in national security frameworks.

Summary of Drake Project and Outlook

The Drake Project, situated within the highly prospective New England Fold Belt, presents significant exploration opportunities for Legacy Minerals. The identification of high-grade antimony mineralisation in the Lunatic Field underscores the untapped potential of the area. With antimony classified as a critical mineral by multiple key economies and recent market disruptions due to China's export controls, the strategic importance of antimony has been further emphasized. Legacy Minerals aims to continue unpacking the Drake Project and looks forward to providing further updates to shareholders, leveraging the discovery opportunity and the increasing significance of antimony in the global market.