Thomson Intrusive Gold-Copper Royalty

Red Hill Minerals own a 1.5% Net Smelter Royalty over the Intrusion Related Gold and Copper Thomson Project tenements in New South Wales⁽¹⁾.

The tenements subject to the Royalty (EL 9190 and EL 9194) form part of ASX listed Legacy Minerals Holdings Limited’s (ASX: LGM) Intrusion Related Gold and Copper (IRG-Cu) Thomson Project and cover approximately 553 square kilometres.

Legacy Minerals has confirmed the presence of a broad mineralised gold system, interpreted as an intrusion related gold system^(2,3).

Recent results returned from previously unsampled historic drilling include⁽²⁾:

• 377 metres at 0.1 grams per tonne gold from 225 metres (no cut-off) including 11 metres at 0.8 grams per tonne gold from 283 metres and 41 metres at 0.4 grams per tonne gold from 420 metres at the Cut-A anomaly;
• 1 metre at 6.73 grams per tonne gold from 370 metres at the Cut-B anomaly.

The tenements host several untested or underexplored magnetic anomalies, providing potential for a major discovery.

Under the royalty documentation, Legacy Minerals holds a buyback right in respect of the Royalty, whereby one half of the Royalty may be repurchased for $2 million, with the remaining half for a further $4 million.