Join our daily newsletter At The Bell to receive exclusive market insights
- Legacy Iron Ore (LCY) wrapped up metallurgical testwork at its Western Australian Mt Celia prospect with some encouraging gold recoveries
- Findings were based on samples taken from Mt Celia in December last year in a bid to push the project to the prefeasibility study stage
- Gold recovery came in at 96.1 per cent, 93.9 per cent and 92.4 per cent, which Legacy says represents a high gold recovery and supports further development of the project
- Looking ahead, prefeasibility mining and hydrogeological studies are expected within the coming weeks
- Legacy is up 7.14 per cent following the announcement, trading at 1.5 cents per share
Legacy Iron Ore (LCY) wrapped up metallurgical testwork at its Western Australian Mt Celia prospect with some encouraging gold recoveries.
The company undertook initial testwork back in December last year and has since been working on three additional composite samples and geochemistry assessments to progress to prefeasibility studies.
All up, eight composite samples were tested from the Kangaroo Bore, Blue Peter and Coronation deposits which make up the Mt Celia Gold Project and have returned gravity gold recovery averaging 47.5 per cent across all tests.
High total metallurgical gold recovery came in at 96.1 per cent, 93.9 per cent and
92.4 per cent at 75 micrometres, 125 micrometres and 180 micrometres respectively after 24 hours.
This increased to 97 per cent, 95 per cent and 94 per cent recovery respectively after 48 hours.
In a broader context, Legacy says the testing demonstrates Mt Celia hosts free milling gold ores suited to processing through conventional processing facilities found in the West Australian Goldfields.
“These follow up metallurgical testwork results continue to confirm gold recoveries are high, with plenty of gravity recoverable gold and overall gold recovery in the mid-nineties,” Legacy Iron CEO Rakesh Gupta said.
“These results also support the further development of our project and a pathway to production with all processing options being investigated,” he added.
In terms of next steps, Legacy is advancing the project to the mine development stage with prefeasibility mining and hydrogeological studies tipped for the coming weeks.
Legacy is up 7.14 per cent following the announcement, trading at 1.5 cents per share at 12:40 pm AEDT.
