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Legacy Iron Ore Ltd ( (AU:LCY) ) has issued an update.
Legacy Iron Ore has completed a UAV magnetic survey over its Yilgangi Project, part of the South Laverton Gold Project, confirming that the tenements sit within the regionally significant Keith-Kilkenny Fault System in the Eastern Goldfields of the Yilgarn Craton. The survey work, carried out by Pegasus Airborne Systems and interpreted by Newexco Exploration, highlights strong correlations between gold mineralisation, major shear zones, cross-cutting structures and iron-rich host rocks such as banded iron formation and magnetite-bearing units.
The interpretation has outlined three distinct magnetic domains and identified multiple areas of interest, including several high-priority targets adjacent to and along strike from known gold mineralisation at prospects such as Golden Rainbow and Yilgangi Queen. Legacy plans to integrate the new geophysical data with induced polarisation surveys, mapping, geochemistry and follow-up drilling, positioning the Yilgangi Project for a more expansive exploration program beyond the historically narrow focus around old workings and potentially enhancing the company’s gold resource base in the region.
More about Legacy Iron Ore Ltd
Legacy Iron Ore Limited is a Western Australia-based resources company focused on the discovery and development of iron ore, base metals, tungsten and gold projects. Listed on the ASX since 2008, the company has built a portfolio that includes the Mt Bevan Iron Ore Project, the South Laverton Gold Project and the East Kimberley Gold, Base Metals and REE Project, with several prospects undergoing drilling and resource definition.
Technical Sentiment Signal: Sell
Current Market Cap: A$64.46M
Find detailed analytics on LCY stock on TipRanks’ Stock Analysis page.