- Legacy Iron has completed its UAV magnetic survey over the Yilgangi project, with multiple areas of interest identified.
- High priority targets adjacent and along strike to known gold mineralisation.
- Iron-rich host rocks featuring BIF and magnetite-bearing units.
Legacy Iron Ore (ASX:LCY) has taken to the air to identify a range of priority gold targets at the Yilgangi project in Western Australia. The comprehensive geophysical review and UAV magnetic interpretation of data from a survey flown over the Yilgangi tenements have identified numerous areas of interest, along the significant structural domains highly prospective for gold mineralisation.
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The explorer’s CEO, Dr Ranajit Das, said the interpretation of the UAV survey data acquired by Pegasus Airborne Systems has already provided “critical insights” into the structural domains of the Keith–Kilkenny shear system.
“Given the highly prospective nature of the area, we are already considering the next phase of exploration, which will include target refinement using IP survey, follow-up geochemistry and drilling,” he told Legacy Iron Ore shareholders today.
Magnetic interpretation has identified the presence of three regional magnetic domains within the Yilgangi tenements, the Western Australian company confirmed.
These have been differentiated based on the different magnetic texture, strain pattern, and stratigraphy, particularly the truncation difference of long strike; length features have been used to identify the domain boundaries.
The identified magnetic domains are:
- Central, characterised by strong, long strike length magnetic units which have been offset by abundant WNW striking faults.
- Rainbow, a relatively narrow domain with moderate to low magnetic response.
- Western, which is magnetically subdued with a general trend of NW direction, similar to the central magnetic domain.
Yilgangi lies within the Eastern Goldfields superterrane of the Yilgarn Craton. Mineralisation is situated within a 25km long package of north-south trending greenstone stratigraphy, specifically along the Keith-Kilkenny fault zones, which host multiple gold occurrences, including Golden Rainbow and Yilgangi Queen.
Historically, exploration at Yilgangi was concentrated within a narrow corridor surrounding historic workings. In CY23, a total of 20 RC holes were drilled to test the extension along strike and depth at Golden Rainbow with a reported inferred mineral resource of 225,834 tonnes at 1.40 grams per tonne (g/t) for 10,136 ounces.
Next steps for Legacy Iron Ore at Yilgangi will include full integration of new data, target refinement using induced polarisation and the design of follow-up mapping, geochemistry and drilling work programs.
LCY will open at 0.7¢. Mkt cap $68.33M.
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