- Legacy Iron Ore (LCY) has commenced additional resource drilling and the construction of water bores for hydrogeological studies at its Mt Celia gold asset in WA
- The company plans to drill 10 to 12 reverse circulation (RC) holes, for 900 metres, with drilling expected to be completed within a week
- While the rig is on-site, Legacy plans to construct four monitoring water bores and one production water bore
- On the market this afternoon, Legacy is up 14.3 per cent and trading at 1.6 cents per share
Legacy Iron Ore (LCY) has commenced additional resource drilling and the construction of water bores for hydrogeological studies at its Mt Celia gold asset in WA.
The company plans to drill 10 to 12 reverse circulation (RC) holes, for 900 metres.
RC drilling will test the strike extension of the Blue Peter mineralisation and the possibility of joining the Blue Peter and Blue Peter South pits.
Legacy expects drilling to be completed within a week.
While the rig is on-site, the company plans to construct four monitoring water bores and one production water bore to support ongoing hydrogeological studies.
Mt Celia is located 180 kilometres northeast of Kalgoorlie in the Eastern Goldfields of Western Australia.
Additionally, plans are in place to carry out an induced polarisation (IP) geophysical survey at Mt Celia to delineate new targets for gold mineralisation.
Legacy also continues to advance discussions with the local Native Title group to finalise an agreement to facilitate the earliest possible grant of a mining lease for Mt Celia.
On the market this afternoon, Legacy is up 14.3 per cent and trading at 1.6 cents per share at 1:44 pm AEDT.