Perth-based explorer Legacy Iron Ore (ASX:LCY) is moving towards commercialisation with the completion of grade control drilling at the Mt Celia Gold Project in Western Australia.
The company reports the drill program totalled about 6,000m of reverse circulation (RC) drilling, targeting the mineralisation at the Blue Peter and Kangaroo Bore starter pits.
Drill samples will be used to determine the processing grade once production begins. Additionally, Legacy says samples will be dispatched to a laboratory in Kalgoorlie for geochemical analysis, with results expected to be reported in Q3 2023.
In February 2022, Legacy upgraded the mineral resource for Mt Celia to 6.975 million tonnes @ 1.39 grams per tonne (g/t) gold for 312,600 ounces of gold. The company plans to conduct additional drilling in early 2024 to increase its geological confidence and the ounces of the mineral resource.
Legacy Iron Ore is a Perth-based explorer focused on developing iron ore, gold, and base metal deposits in Western Australia. The company’s portfolio of assets includes the Mt Bevan Iron Ore/Manganese, South Laverton Gold, Mt Bradley Rare Earth Element (REE), and East Kimberley Base Metals projects.
The Mt Celia Gold Project lies within the wider South Laverton Gold Project, which hosts multiple prospective tenements along the Keith Kilkenny Tectonic Zone and the southern part of the Laverton Tectonic Zone.
The company says these structures host numerous gold mines, with the Laverton Tectonic Zone hosting a gold resource of about 20 million ounces. Along with Mt Celia, the Laverton South Project includes the Yilgangi deposit and the Patricia North, Sunrise Bore, and Yerilla prospects.