Legacy Iron Ore (ASX: LCY) has delivered an updated Mineral Resource Estimate following several drilling programs at the Golden Rainbow deposit within its Yilgangi Gold Project area in Western Australia.
The JORC-2012 compliant Inferred Resource, carried out by BM Geological Services, has delivered 225,834t @ 1.40g/t for 10,136 ounces of contained gold, which the company says demonstrates the potential of the project.
In addition, the work has identified a series of follow-up targets within the project.
Legacy notes that identified gold mineralisation within the deposit is present along linear zones of alteration, within a variety of host rocks. Gold is reported to occur in irregular quartz veins associated with pyrite, chlorite alteration and silver.
Golden Rainbow’s mineralisation has been interpreted to be within four north-northwest striking lodes that plunge to the south and to the west.
Map of the Yilgangi Gold Project. Image: Legacy Iron Ore LimitedThe update replaces an earlier Resource which was completed in 2005 under the previous 2004 JORC code.
The Yilgangi Project sits within Legacy’s South Laverton Gold Project, which also includes Mt Celia, Yerilla, Patricia North and Sunrise Bore.
The project, which was acquired in 2009 from Jackson Gold Ltd, includes two exploration tenements (E31/1019 and E31/1020) and two mining leases (M31/426 and M31/427), and has been subject to a number of drill programs designed to increase resource confidence and quality.
