- Legacy Iron Ore (LCY) has received encouraging assay results from its recent reverse circulation (RC) drilling program at the Mt Celia Project in WA
- All up, 17 RC holes were drilled across the Kangaroo Bore and Blue Peter prospects to test the strike extensions of the mineralisation
- Of the 17 holes drilled, 13 intersected mineralisation with grades peaking at 8.76g/t gold
- The results show the ongoing continuity of the mineralisation and highlight the potential for additional mineralisation beyond the ore body
- Legacy will now undertake a ground geophysical induced polarisation survey to identify new targets between and around Blue Peter and Kangaroo Bore
- Further exploration drilling will also be completed to increase the known resources
- Legacy has ended the day a healthy 14.3 per cent in the green with shares trading at 1.6 cents
Legacy Iron Ore (LCY) has received encouraging assay results from its recent reverse circulation (RC) drilling program at the Mt Celia Project in WA.
The company drilled 17 RC holes, for 1080 metres, across the Kangaroo Bore and Blue Peter prospects to test the strike extensions of the mineralisation and determine the grade variation.
Of the 17 holes drilled, 13 intersected mineralisation, establishing strike extensions and increasing the confidence in the mineralisation.
Best results include four metres at 2.63g/t gold from 52 metres including one metre at 8.76g/t gold from 54 metres, and three metres at 6.62g/t gold from 87 metres.
These results show the ongoing continuity of the mineralisation and highlight the potential for additional mineralisation beyond the ore body.
This allows for increased confidence in outlining additional resources, ultimately leading to an upgrade in resources.
Pleasingly, the results have also outlined the possibility of joining the Blue Peter and Blue Peter south pits to form a single pit.
Legacy will now undertake a ground geophysical induced polarisation (IP) survey to identify new targets between and around Blue Peter and Kangaroo Bore.
Further exploration drilling will also be completed to increase the known resources.
Legacy has ended the day a healthy 14.3 per cent in the green with shares trading at 1.6 cents in a $89.66 million market cap.