Legacy Iron Ore Limited (ASX: LCY) – $0.005

14 Oct 2016

Legacy Iron Ore Limited (ASX: LCY) has received assay results from reverse circulation drilling at its Mt Celia Gold Project located north of Kalgoorlie in Western Australia (Figure 1).

 

lcy-mt-celia-au

Figure 1. Location of the Mt Celia Gold Project

 

 

Drilling highlights include:

 

  • 8m at 5.32g/t gold including 2m at 11.9g/t gold from 78m to 86m
  • 8m at 7.22g/t gold including 2m at 20.1g/t gold from 108m to 118m
  • 4m at 3.35g/t gold including 2m at 5.24g/t gold from 112m to 116m

 

A 1,960 metre (15 drillholes) reverse circulation drilling program was conducted with the aim of upgrading and expanding the company’s known gold resources at Mt Celia.

 

The drilling targeted the Blue Peter and Coronation prospects where previous drilling revealed high grade gold mineralisation.

 

Mt Celia contains two JORC compliant gold resources; Kangaroo Bore with an inferred resource of 46,000oz gold (1.04Mt at 1.4g/t gold using a 0.7g/t cut off) and Blue Peter with an inferred resource of 30,554oz gold (239,232t at 3.97g/t gold using a 1.0g/t cut off).

 

 

For further information, visit www.legacyiron.com.au

 

 

Resources Stocks to Watch (RSTW) is the leader in research on over 600 ASX listed micro to small-cap mining stocks and commodities. We are independent and do not accept commissions. We tell it like it is. Our reports are researched by experienced geologists and resources analysts, the experts in the field.

 

 

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