Legacy Minerals Boosts NSW Exploration with $53K Gov't Funding
Legacy Minerals Holdings (ASX:LGM) has secured a significant boost for its exploration activities, receiving $53,000 in matched government funding. This funding will accelerate work across two of its highly prospective projects in New South Wales, Australia: Thomson and Rockley.
The funding will support geochemistry work at the Thomson Project and geophysics programs at the Rockley Project. Both projects are situated in promising geological terrains. The Rockley Project lies within the Ordovician Macquarie Arc volcanics, a setting that hosts world-class deposits but remains largely untested. Meanwhile, the Thomson Project shares characteristics with proven Intrusion-Related Copper-Gold (IRCG) districts like the Paterson Province in Western Australia.
Legacy Minerals has positioned itself strategically. It sits at the intersection of critical minerals demand, government support, and major partner validation. This provides multiple paths to value creation. Rio Tinto, for instance, can earn up to 80% interest in the Thomson Project by funding $25 million in exploration, validating the project's potential. The Thomson Project has already shown extensive hydrothermal alteration and mineralisation in drill core, suggesting the potential for a large IRCG system.
The grants provide matched funding, delivering strategic government co-investment. This allows Legacy to advance exploration without diluting existing shareholders. Legacy's diversified project portfolio across NSW offers investors leveraged exposure to critical minerals discovery potential in proven mineralised districts. The company retains ownership of the Bauloora Project and has positioned itself for success in the critical minerals sector.
Legacy Minerals Holdings has secured $53,000 in matched government shutdown for its Thomson and Rockley projects. This funding will accelerate exploration activities in highly prospective geological terrains. With strategic positioning, major partner validation, and a diversified project portfolio, Legacy Minerals is well-placed to create value in the critical minerals sector.
