Legacy Minerals Holdings (ASX:LGM) reported an open pit mineral resource estimate for the Drake epithermal gold-silver project in New South Wales, according to a Thursday Australian bourse filing.
The estimate consists of 650,000 ounces of gold, 24.3 million ounces of silver, 147,000 tonnes of zinc, 33,000 tonnes of lead, and 20,000 tonnes of copper for 80,000 ounces of gold-equivalents from gold-rich deposits and 35 million ounces of silver-equivalents from silver-rich deposits.
It sits across four deposit groups, with all deposits mineralized from the surface. It is based on a gold price of AU$3,600 per ounce and a silver price of AU$43 per ounce.
A large, airborne MobileMT geophysical survey is being conducted at the project.
Its shares rose over 13% on market close on Thursday.
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