Join our daily newsletter At The Bell to receive exclusive market insights
- Legacy Iron Ore (LCY) provides an update of exploration activities at its South Laverton Gold Projects in Western Australia
- Additional reverse circulation drilling is underway at the Mt Celia project to test extension of the Blue Peter and Kangaroo Bore mineralisation
- A first phase geophysical induced polarisation (IP) survey, over the Blue Peter deposit was completed to identify new targets for gold exploration
- Results are pending for follow-up reverse circulation drilling completed last week at the Yilgangi project, once received, the company plans to start additional resource estimation work
- Shares are trading in the grey at 1.5 cents at 3:30pm AEST
Legacy Iron Ore (LCY) has provided an update of exploration activities at its South Laverton Gold Projects in Western Australia.
At the Mt Celia project, the company has begun additional reverse circulation drilling to test the strike extensions of the Blue Peter and Kangaroo Bore mineralisation.
The definition drilling will cover 2200 metres and is expected to be completed within a fortnight.
Additionally, Legacy said four monitoring water bores and one production water bore were constructed last month, to support ongoing hydrogeological studies with an outcome from the study expected at the end of the month.
A first phase geophysical induced polarisation (IP) survey, over the Blue Peter gold resource within the Mt Celia project, and adjoining area was also completed earlier this month.
The survey is said to have picked up anomalous chargeability over kangaroo Bore and Blue Pete deposits and indicated anomalous areas in the area surveyed.
Legacy said the IP survey will assist in identifying new targets for gold exploration with drill testing of anomalies and targets potentially adding to the current indicated and inferred resources of Mt Celia.
On that point, the company has incorporated recent assay results from drilling in March in the ore body model, with a review of the current resource estimates underway.
In other news, LCY completed another reverse circulation drilling program at the Yilgangi project following on from work completed in December last year.
The program consisted of 33 holes that aimed to uncover strike continuity of known mineralisation at Golden rainbow and Rainbow prospect.
Once assay results are received, the company plans to carry out additional resource estimation work.
Shares were trading in the grey at 1.5 cents at 3:30pm AEST.
