Legacy's South Laverton Project, is a gold tenement package, with between 80% and 100% equity in approximately 613 km2 of exploration tenure in the South Laverton region (Figure 1) located 125 - 180 km north-east of Kalgoorlie. The project has two Inferred Resources of 44,500 ounces and one Indicated Resource of 46,000 ounces (information detailed below). The tenements are located in the Norseman-Wiluna greenstone belt, the premier gold producing area in Australia. Locally, this geological zone has a known gold endowment of approximately 22 million ounces of gold and includes the major gold deposits of Sunrise Dam, Wallaby, Granny Smith, Carosue Dam, Red October and Mt Morgans.
Legacy's plans are to build a strong gold portfolio with the aim of defining new and upgrading existing resources with the view of taking them to feasibility quickly. The South Laverton tenement portfolio is highly prospective because of its location in a proven mining district where more than 2 million ounces of gold had been defined on adjacent properties.
The tenements are largely under explored and at least 25 untested targets have been identified in three distinct tectonic environments, namely the Murrin-Margaret Sector, Laverton Tectonic Zone and Keith Kilkenny Tectonic Zone. Legacy believes that the project area is highly prospective for the definition of further resources as the vicinity offers a full suite of prospects, from grass roots to advanced targets.
A review of available data has identified numerous untested conceptual targets; large scale, low level geochemical and RAB anomalies; some open bedrock mineralisation and two low grade Inferred resources. These tenements give Legacy a much greater chance of exploration success in a favourable commodity and security with a broad strategic tenement package in mineralised corridors.
Legacy's tenure is focused on a strategic portion of the well mineralised Wallbrook - Porphyry trend in the Edjudina Mining Centre, an area along strike from the Mulgabbie Mining Centre and a region within the Yerilla - Mount Remarkable Mining Area.
The South Laverton Project has two resources delineated at Yerilla (Bull Terrier) and Yilgangi (Golden Rainbow) with the Inferred Resource inventory totalling 731,600t at 1.89g/t Au for 44,500oz. The Bull Terrier Deposit has an Inferred Resource of 527,000t at 1.92g/t for 32,500oz (at a 1g/t cut-off) and at Golden Rainbow, a near surface oxide resource has an Inferred Resource of 204,600t at 1.83g/t for 12,000oz (at a 1g/t cut-off).
Significant infrastructure has been developed in the region in the last six years following the discovery and development of the Carosue Dam Operations. This Operation and associated infrastructure, and a large landholding in the area are owned by Saracen. The 2.4Mtpa plant is currently under care and maintenance following production of 800,000 ounces between November 2000 and June 2005. Saracen is currently finalising a definitive feasibility study for the re-commissioning of the Carosue Plant.
Overall, the lease package has a series of early stage (grass roots) to advanced stage (resources) targets and these provide a platform for growth in area with high exploration potential.
Figure 1: Tenement portfolio draped over geology and grey-scale aero-magnetics.
Mount Celia Project
On the 19th June 2009, Legacy finalised the purchase of the Mount Celia gold project, a series of tenements under application, covering an area of 25.9km2. These tenements are (Figure 1 – outline in yellow) located 180 km north-east of Kalgoorlie and are a strategic fit to Legacy’s South Laverton project.
The tenements contain an Indicated Resource of 1,031,000t at 1.4g/t for 46,000 ounces (at a 0.7g/t cut-off) and extends to 50m below surface at Kangaroo Bore.
The Mount Celia project is underlain by over 7km of greenstone within the Edjudina – Laverton greenstone belt and has been subject to sporadic modern exploration since the late 1980’s. The focus of much of the exploration has been delineation drilling on the Kangaroo Bore gold deposit. Many soil programs and successive reconnaissance RAB drilling with limited RC follow up have been successful in locating several less well defined gold prospects.
A SAM (sub-audio magneto-telluric) survey has been conducted over the tenement package which essentially measures thickness in clay (Figure 2 – hotter colours). Increased thickness in clay may indicate weathering around a potentially mineralised structure or stratigraphic horizon. The survey has identified additional conceptual targets that will require follow up.
There are also quite a number of open intersections, both at Kangaroo Bore and Blue Peter which will require RC drilling. Drilling is planned once the tenements are granted.
Figure 2: SAM Geophysics with maximum gold ( g/t ) in drillhole.
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Web page updated on 22 June 2009.