Legacy Iron Ore (ASX:LCY) has completed the airborne electromagnetic survey at its Koongie Park basemetals-gold project in Western Australia, that would help it identify mineralisation targets for potential exploration.
The tenement is contiguous with ground under exploration by Anglo Australian Resources (ASX:ARR), which has defined substantial base metal -gold-silver mineralisation in two deposits totalling a JORC resource of 8 million tonnes at 3.3% zinc, 1.2% copper, 0.3%g/t gold and 23g/t silver.
The VHMS style of mineralisation is also similar to that found at Sandfire Resource's Doolgunna/DeGrussa discovery and at the Teutonic Bore/Jaguar/Bentley deposits of Independence Group.
The 365 line kilometre survey covers the base metal – gold prospective stratigraphy in the northern sector of the project area including the recently discovered Jillaroo prospect.
It also extended sufficiently south to include the area of uranium anomalism associated with the Angelo Fault area - a potential unconformity related uranium occurrence.
The high resolution aeromagnetic data at Legacy has shown the presence of the same stratigraphic units that host the AAR base metal mineralisation.
Results from the EM survey are likely early next month.
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