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Legacy Iron Ore (ASX:LCY) today announced a significant resource upgrade to its Mt Bevan iron ore project in Western Australia, following the third phase of its definition drill program.
Legacy Iron Ore (ASX:LCY) today announced a significant resource upgrade to its Mt Bevan iron ore project in Western Australia, following the third phase of its definition drill program.
The drill program has upgraded the inferred resource for the 2-km section to 322 million tonnes indicated iron ore, graded 34.7 percent iron. The resource has a mass recovery rate of 44.2 percent, suggesting it is amenable to simple magnetic separation, according to the company.
Legacy Iron Managing Director Sharon Heng said: “The upgrade to a JORC Indicated Resource is a welcome development and a key milestone in support of a future development at Mt Bevan, especially considering that the upgraded resource comes from merely a 2km section of the Western BIF. There remains an additional 8km of known strike where, based on these results, we are confident of achieving a similar conversion following additional drilling.”
Read the full press release by Legacy Iron Ore (ASX:LCY) here