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Legacy Iron Ore Ltd.
Summary
| Project: | Mt Celia | |
|---|---|---|
| Deposit: | Mt Celia | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/15/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-6-2018: Legacy Iron Ore Ltd. announces an Exploration/Drilling Update report for its Mt Celia deposit at the Mt Celia project. Drilling results incl. 4.0m @ 11.85g/t Au from 8m. Legacy Iron Ore Limited (Legacy Iron or the Company) is pleased to announc | |
| Resources: | (Resource, Inf.): 3.407Mt @ 1.68g/t Au for 184.1Koz Au contained at project | |
| CP/QP: | [Overall Report]: Bhupendra Dashora (Internal) | |
| ABSTRACT: | Legacy Iron Ore Limited (Legacy Iron or the Company) is pleased to announce encouraging gold results from the latest April 2018 round of exploration drilling at Mt Celia (Figure 1). These positive results have identified numerous additional targets which provide the potential for a further expansion of the current resource base for the project subject to the continued success in follow-up drilling. The major focus of field exploration undertaken at Mt Celia has been the completion of resource definition work at the Kangaroo Bore and Blue Peter deposits, with little additional drilling being conducted to further expand the resource base across other anomalies and prospects on the tenements. This round of drilling (1500m; RC drilling over 20 holes) focussed on the testing of several underexplored gold prospects and anomalies defined by soil and RAB geochemistry (historical data). The locations of the drill holes are as shown in Figure 3. Approximately 70% of the drill holes during this program were used to test the surface geochemical anomalies identified from historical Auger sampling and the remaining drill holes (six) were used to test the depth extension of the old prospects. Drill holes which were planned to test the northern extension of the Margot’s Find prospect, confirmed the potential for an additional 200 m of strike length in a NW direction (drill holes MC 10 and 11). Drill holes at Bitter End and Travellers Joy prospects have shown positive intersections potentially confirming the continuity of mineralisation at depth (drill holes, MC12 & MC15). A weak gold anomalism (up to 2.4g/t for 2 m interval) associated with quartz veins or prospective lithological contacts has been noted in most of the drill holes which were targeting the soil/RAB anomalies. Further exploration drilling is required to effectively evaluate the continuity of these anomalies. | |
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