Legacy (ASX:LCY) mark mining at Mt Celia
November 7, 2023Legacy Iron Ore has turned from explorer into producer with the milestone commencement of gold mining at its Mt Celia operations south of Laverton in Western Australia.
Sunday’s opening ceremony marked the culmination of all final statutory approvals and signing of the mining contract, attended by the Secretary of India’s Ministry of Steel, the Perth Consul General, NDMC Limited and key Legacy personal and contractors.
The first ore for processing is expected for early next calendar year, and Legacy CEO Rakesh Gupta said the event was the culmination of its evolution to a producer, bringing in its first mining as it continues to unlock the value of its collection of South Laverton gold projects.
“I would like to acknowledge the support of our shareholders including NMDC Limited, and the incredible effort by the Legacy iron team and our consultants, who have worked diligently with state government agencies and community stakeholders to transition Mount Celia to production,” Mr Gupta said.
“The asset will generate revenue to fund ongoing exploration at the prospective South Laverton Projects, as the Company plans to bring more resources to a mine-ready stage and add additional shareholder value.”
Holding exploration plays for iron ore, battery metals, base metals, and gold across Western Australia and the Northern Territory, Legacy has been able to swiftly deliver production from one of the world’s most prolific gold belts.
The Laverton Tectonic Zone is believed to hold around 30 million ounces of gold, and alongside a producing Mount Celia flagship, adjacent Yerilla, Yilgangi, Patricia North, and Sunrise Bore projects all offer potential for an expanded resource base.
Already holding a 6.97 Mt @ 1.39g/t for 312,600 ounces JORC resource at the flagship, Legacy will continue work to extend the life of Mount Celica and plan infill drilling in the first half of next year alongside early-stage drilling on its regional prospects.
South Laverton gold projects
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