공고 • Jul 29
Legacy Gold Mines Reports Assay Results from Phase 1 Core Drilling At Baner Gold Mine Property
Legacy Gold Mines Ltd. reported assay results from the first two holes of the Phase 1 core drilling portion of its 2026 drill program at the Baner Gold Mine Property in Idaho County, Idaho, USA. The Company expects the Phase 1 core drilling portion of the drill program to be completed this week. The Phase 2 reverse circulation drilling portion, which is testing both the previously drilled Main Zone and other target areas, is well underway. The first hole, LG26-009, intersected five mineralized zones and extended mineralization up to 150m south of the nearest previous intersection. The 150m offset intersection graded 2.9 g/t Au and 41.8 g/t Ag over 3.6m and is thought to represent the north-south extension of mineralization in the Main Zone. The same hole also intersected 0.43 g/t Au over 16.9m from 6.1m downhole (2.5m vertical), which is thought to represent the east-west trending Baner vein mineralization. Results from hole LG26-015 filled in a 150m gap at the northern end of the Baner Main Zone and returned four mineralized zones, with the two best zones, located mid-way among the four, grading 1.1 g/t Au over 12.4m and 0.42 g/t Au over 14.5m. The oriented core from holes LG26-015 and LG26-010 (assays pending) proved the premise underlying the Exploration Target set out below – that the mineralization is flat and east-dipping. The first phase of the 2026 drill program was designed to strategically core drill the first 12,000ft (3,658m), followed by up to 28,000ft (8,536m) of RC drilling. This program follows up on the successful 2025 results by targeting both the Main and Northeast Zones, as well as new exploration targets to the northwest indicated by large gold-in-soil anomalies coincident with geophysical conductors and similar magnetic highs as are in the Main Zone. To date, ten core holes have been drilled, with one more core hole pending: one exploration hole to the west; two holes at the south end of the Main Zone and Baner Zones; three holes up the hill in the western portion of the Main Zone; three holes at the north end of the Main Zone; and one hole in the west portion of the Northeast Zone. The final hole is also located in the Northeast Zone. LG26-009 intersected 0.43 g/t Au over 16.9m at a vertical depth of 2.5m, including 1.44 g/t Au over 1.5m, 2.0 g/t Au over 1.0m, and 1.36 g/t Au over 0.8m, plus 0.6 g/t Au over 3.3m at 18m vertical, plus 2.2 g/t Au over 1.6m at 25m vertical, plus 0.79 g/t Au over 4.4m at 50m vertical, including 1.64 g/t Au over 0.9m, plus 2.9 g/t Au and 41.8 g/t Ag over 3.6m at 120m vertical. This hole was drilled 150m west of the nearest previous drilling, and the 2.9 g/t Au intersection is located 150m southwest of the nearest previous intersection. LG26-015 intersected 0.8 g/t Au over 4.5m at a vertical depth of 30m, including 1.7 g/t Au over 1.5m, plus 1.1 g/t Au over 12.4m at a vertical depth of 32m, including 3.05 g/t Au over 0.3m, and 2.6 g/t Au over 1.1m, plus 0.42 g/t Au over 14.5m at a vertical depth of 42m, including 1.94 g/t Au over 1.4m and 1.3 g/t Au over 0.8m, plus 0.6 g/t Au over 3.1m at a vertical depth of 91m, including 1.8 g/t Au over 0.5m. This hole was drilled in the 150m gap uphill where previous holes LG25-013 to LG25-016 intersected mineralization at surface, including a best intersection of 1.0 g/t Au over 19.8m (LG25-016), and the northernmost previous intersection (again from surface) of 0.57 g/t Au over 64.0m (LG25-006). Drilling in 2025 intersected very wide zones such as new assays of 0.55 g/t Au over 187.5m in the middle, 0.52 g/t Au over 108.2m in the south, and new assays of 0.57 g/t Au over 64.0m in the north. The deposit remains open in all directions. Drilling in 2026 will primarily drill uphill from the drilling to date in the Main Zone to follow the interpreted flatter east-dipping veins to surface. On the south end of the north-south Main Zone are the Baner Zones. They are east-west trending and have up to 20 historical adits and shafts along them for 3,000ft. Thirty-five holes are planned in this area (7 core holes and 28 RC holes). The NE Zone is separated by a 400m undrilled gap from the Main Zone. It has limited drilling from 2020 by previous operators but contains multiple mineralized zones of similar grades/widths like the Main Zone. Together with the Main Zone, these are the areas that the initial exploration target at the Baner Property is based on and which Legacy Gold is aggressively drilling in 2026 in order to delineate a mineral resource. Ten holes are planned in this NE zone (2 core holes and 8 RC holes). The NW Zone is located 1700m NW of the Main Zone along similar geophysical and geochemical anomalies as the Main Zone. Similar magnetic highs, IP conductors and high gold-in-soil anomalies (up to 1.0 g/t gold) are located along this NW trend, as is found at the Main Zone, yet it has never been drilled. The closest drill hole is the step-out hole #6 drilled in 2025 that returned a continuous intersection of 0.57 g/t Au over 64.0m from surface. It was located approximately 136m northwest of the other nearest drilling. Another zone that will be drilled is located to the west and is identified by a 530m long north-south soil anomaly with a high of 1.1 g/t. Altogether, six holes are planned in the NW zone (4 core holes and 2 RC holes). The 2025 surface drill program at the Baner Property focused on testing for continuity of high-grade and wide low-grade zones of mineralization with a new flatter-dipping interpretation of zones controlled by major structures that acted as conduits for gold bearing fluids. This would result in better continuity of mineralization, the potential resource can be far greater, and the strip ratio in a production scenario would be greatly decreased. The Company is targeting high grade mineralization that is amenable to open pit, heap-leach development. Results from the recent 2025 drilling and previous drilling and exploration have supported the initial exploration target at the Baner Property of approximately 50.3 million to 55.3 million tonnes, at average grades ranging from approximately 0.72 g/t Au to 0.91 g/t Au. Furthermore, this initial Exploration Target was estimated prior to the receipt of the new assays reported by the Company in March 2026, which represent approximately 30% of the 2025 drill program. The potential quantity and grades of the Exploration Target are conceptual in nature.
