Tue, 19 July,2011
Legacy Iron Ore (ASX: LCY) is an iron ore exploration company that is based in Western Australia, and is developing the Mt Bevan Iron Ore Project, which has the potential to develop into one of the largest resources of iron ore in the Central Yilgarn.
Legacy is also developing an advanced gold exploration project at Mt Celia, at the South Laverton Project, and holds other prospective areas including Robertson Range for iron and manganese, Hammersley for iron, and East Kimberley for gold.
The company is earning a 60% interest in the Mt Bevan Project from Hawthorn Resources (ASX: HAW), by committing $3.5 million to exploration and completion of Pre-Feasibility studies before the end of calendar year 2012.
The tenements are located 100 kilometres west of Leonora, and cover 25 kilometres of Banded Iron Formation (BIF) that abut and extend from Jupiter Mines (ASX: JMS) Mt Ida magnetite iron ore resource of 530 million tonnes of 31.94% Fe, and a resource of 5.75 million tonnes of haematite grading 59.9% Fe at Mt Mason.
A first stage drilling campaign tested 4,600 metres of the western side of the Banded Iron Formation that runs through the Mt Bevan Project area, and targeted around 40% of the potentially mineralised strike line.
The 20 drill hole program was completed along 5 drill lines that were spaced 1,000 metres apart, where all of the holes intersected a shallow dipping, magnetite bearing ore body that varied in true vertical thickness of around 80 to 140 metres, and exhibited strong continuity between drilling lines. For more visit Proactiveinvestors
Legacy Iron Ore (ASX: LCY) is an iron ore exploration company that is based in Western Australia, and is developing the Mt Bevan Iron Ore Project, which has the potential to develop into one of the largest resources of iron ore in the Central Yilgarn.
Legacy is also developing an advanced gold exploration project at Mt Celia, at the South Laverton Project, and holds other prospective areas including Robertson Range for iron and manganese, Hammersley for iron, and East Kimberley for gold.
The company is earning a 60% interest in the Mt Bevan Project from Hawthorn Resources (ASX: HAW), by committing $3.5 million to exploration and completion of Pre-Feasibility studies before the end of calendar year 2012.
The tenements are located 100 kilometres west of Leonora, and cover 25 kilometres of Banded Iron Formation (BIF) that abut and extend from Jupiter Mines (ASX: JMS) Mt Ida magnetite iron ore resource of 530 million tonnes of 31.94% Fe, and a resource of 5.75 million tonnes of haematite grading 59.9% Fe at Mt Mason.
A first stage drilling campaign tested 4,600 metres of the western side of the Banded Iron Formation that runs through the Mt Bevan Project area, and targeted around 40% of the potentially mineralised strike line.
The 20 drill hole program was completed along 5 drill lines that were spaced 1,000 metres apart, where all of the holes intersected a shallow dipping, magnetite bearing ore body that varied in true vertical thickness of around 80 to 140 metres, and exhibited strong continuity between drilling lines. For more visit Proactiveinvestors
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