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- Legacy Iron Ore (LCY) has commenced the next round of drilling at its Mt Celia project in Western Australia
- This drilling aims to facilitate a resource upgrade at both the Kangaroo Bore and Blue Peter deposits
- The drilling is expected to take approximately three weeks, with results expected in a further six week
- Diamond drilling at the project is also planned to commence in the next few weeks
- Legacy remains steady on the market this afternoon and is selling shares for 0.2 cents each
Legacy Iron Ore (LCY) has commenced the next round of drilling at its Mt Celia project in Western Australia.
This drilling aims to facilitate a resource upgrade at both the Kangaroo Bore and Blue Peter deposits.
The drilling is expected to take approximately three weeks with results expected in a further six weeks.
The initial pit optimisation study based on the resource estimates showed that Mt Celia has the potential to be a technically and economically viable project.
A reverse circulation (RC) rig has been moved to the site and will undertake approximately 3000 metres of drilling.
Following the capital raise in January, the company is now well funded to carry out its plans for the next 12 months.
These plans include converting Kangaroo Bore and Blue Peter into an indicated resource to update the feasibility study, develop an understanding of the area and increase the overall resource at Mt Celia.
Diamond drilling at the project is also planned to commence in the next few weeks.
Legacy remains steady on the market this afternoon and is selling shares for 0.2 cents each at 12:54 pm AEST.
