Proactive Investors - Run By Investors For Investors

Legacy Iron Ore eyes nickel, copper resources at Mt Bevan

Legacy Iron Ore (ASX:LCY) has commenced a ground electromagnetic survey program at its Mt Bevan project in Western Australia to identify potential drilling targets for nickel and copper mineralisation.
Legacy Iron Ore eyes nickel, copper resources at Mt Bevan
Legacy Iron Ore eyes nickel, copper resources at Mt Bevan

The Mt Bevan project (Legacy 60%, Hawthorn Resources 40%) is located immediately south and adjacent of St George Mining’s (ASX:SGQ) Mt Alexander Project tenement.

The project hosts 1170 million tonnes of magnetite resource at 34.9% iron, as well as a significant potential for the discovery of nickel–copper mineralisation in the northern part of the tenement.

St George recently had significant success identifying nickel-copper sulphide mineralisation at Cathedrals, Stricklands and Investigators prospects along the Cathedrals Shear zone.

Legacy selected the area for the electromagnetic survey based on the high priority targets identified from the ground magnetic survey completed recently.

The interpretation of ground magnetic data identified six different target zones, which include three high priority targets, having significant potential to host nickel sulphide mineralization.

This is based on their structural and geological setting and similarities to the adjoining Cathedrals fault.

Legacy is also planning a follow-up program of drill testing high priority targets identified from the electromagnetic survey.

In October, the company received significant gold results from a reverse circulation drilling program at its Mt Celia Gold Project in the Eastern Goldfields of Western Australia.

The company is well funded with a cash balance of $5.5 million as at 30 September 2016.

View full LCY profile View Profile

Legacy Iron Ore Ltd Timeline

Related Articles

copper wire
June 11 2019
Strategic Minerals has a portfolio of projects in New Mexico, UK and Australia
January 23 2019
Experienced contract miner QME is considering several development scenarios
March 19 2019
The project is situated in a developed iron ore mining region with well-established infrastructure

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use