Takeaways:

  • Legacy Minerals (ASX: LGM) has partnered with CSIRO to apply advanced geoscience techniques at the Mt Carrington project in NSW.
  • The collaboration uses a CSIRO Kick-Start voucher and includes A$50,000 in additional funding for the technical study.
  • Mt Carrington hosts a 115-million-ounce silver-equivalent mineral resource.
  • A scoping study is scheduled for completion in Q1 2026, alongside a renewed drilling program at the Mascotte silver-gold prospect.
  • The CSIRO Partnership is expected to improve targeting confidence for extensional and step-out drilling.

Legacy Minerals (ASX:LGM) has formalised a research collaboration with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) to support the next phase of work at its Mt Carrington gold-silver project in New South Wales. The agreement is structured around a CSIRO Kick-Start voucher and is bolstered by an additional A$50,000 in funding to enable a larger, more robust technical study.

The work is intended to provide a more detailed view of how alteration and structure interact across the key deposits and prospects within the Mt Carrington field. Better resolution on these controls is expected to lift targeting confidence and help refine extensional drilling priorities, particularly at deposits where historical data has been fragmentary or geologically complex.

What the technical program covers

The CSIRO program will deploy a suite of advanced techniques. Scanning electron microscope-based mineral analysis (SEM-TIMA) provides quantitative mineralogy at micro-scale, helping identify the alteration assemblages and ore minerals present. Laser-induced breakdown spectroscopy (LIBS) offers rapid in-field elemental analysis, useful for orienting drill crews and prioritising assay submissions.

Structural logging will complement these methods, focusing on the geometry of faults, veins and shears that are likely to control mineralisation. Together, the techniques are designed to deliver a richer geological model than legacy historical datasets — many of which date from earlier exploration cycles when these methods were not available.

Mt Carrington’s 115Moz silver-equivalent resource

Mt Carrington is a brownfield silver-gold project that already hosts a substantial mineral resource. The combined endowment is reported at around 115 million ounces of silver equivalent, placing the project among the larger ASX-listed undeveloped silver-bearing Assets. The resource includes deposits with both silver-dominant and gold-dominant character, providing flexibility around metallurgical and economic optimisation.

Legacy has commenced a comprehensive scoping study at Mt Carrington, scheduled for completion in Q1 2026. The scoping study is expected to outline indicative production scenarios, Capital intensity ranges and operating cost profiles, providing a framework for further engineering, environmental and community consultation work in the subsequent phases.

Mascotte: high-grade silver-gold reactivation

Alongside the broader Mt Carrington program, Legacy has launched a drilling campaign at the Mascotte silver-gold prospect, described as the first modern exploration at the prospect in more than 50 years. Mascotte sits within the Mt Carrington field and is interpreted as having potential for high-grade silver-gold mineralisation that may not have been adequately tested by historical drilling.

Reactivating prospects like Mascotte is a recurring theme on the ASX small-cap board in 2026. Improved geophysics, better understanding of structural controls and stronger silver-gold prices have changed the Economics for revisiting historical districts that earlier explorers walked away from when prices were lower or methods less advanced.

Why the CSIRO link matters

CSIRO collaborations have become increasingly common for ASX small caps seeking access to advanced techniques and validation of their geological interpretations. Beyond the technical benefit, partnerships with CSIRO carry institutional credibility, which can support investor confidence and engagement with Downstream Stakeholders, including offtakers, regulators and project finance providers.

For Legacy, the timing is significant. With a scoping study due in Q1 2026 and active drilling at Mascotte, the CSIRO program could feed directly into resource updates, drill targeting and the geological framework underpinning any economic study.

Sector context: NSW silver-gold reactivations

The New South Wales silver-gold sector has experienced renewed investor interest as silver prices have firmed and gold has remained at elevated levels. Legacy joins a cohort of ASX-listed companies revisiting historical NSW silver districts, often using modern geophysics and geochemistry to reframe the targeting case.

Investor focus has been on resource quality, metallurgical complexity and the path to a credible scoping or pre-feasibility study. Project financing for silver-dominant Assets has historically been more challenging than for gold or copper, but the rising silver price and broader critical minerals tailwind have improved the funding environment.