- Legacy Iron Ore (LCY) has received encouraging results from drilling at the Mt Celia Gold Project in Western Australia
- Drilling has extended mineralisation along strike at the Blue Peter deposit and confirmed parallel lodes at the Kangaroo Bore deposit
- Pleasingly, results have provided further confidence in Mt Celia’s inferred mineral resource upgrade, which is planned to be released next month
- Legacy is now conducting metallurgical studies and geotechnical work ahead of drilling early next year
- Company shares are up 14.3 per cent to trade for 0.8 cents
Legacy Iron Ore (LCY) has received strong results from the Mt Celia Gold Project in Western Australia.
The Mt Celia Gold Project is located around 40 kilometres south of the Sunrise Dam mine and lies within the Laverton Tectonic Zone. The project contains multiple gold occurrences including the Kangaroo Bore and Blue Peter deposits.
Legacy conducted a reverse circulation (RC) drilling program that was completed in July this year. This program aimed to infill mineralisation at a shallow depth within an optimised pit boundary identified in 2018.
Then, the company conducted follow-up drilling in September. In total, 39 RC holes were completed.
Pleasingly, drilling results show a 60-metre extension of mineralisation along strike to the north and south of Blue Peter and confirms parallel lodes at Kangaroo Bore.
Best results include two metres at 2.88g/t gold, five metres at 2.62g/t gold, three metres at 3.44g/t gold and six metres at 2.73g/t gold.
These intercepts provide an opportunity to extend the known inferred resource at Mt Celia which currently totals 3,407,200 tonnes at 1.68g/t gold for 184,100 ounces.
Legacy hopes to release an updated mineral resource estimate by mid-December. Metallurgical work, and flora and fauna surveys are also ongoing as the company prepares to obtain regulatory approval for mining activities in the new year.
Company shares are up 14.3 per cent to trade for 0.8 cents at 3:00 pm AEDT.