Weekly
Daily
HIGHLIGHTS
EXPLORATION
Focus on Mt Bevan Iron Ore Project.
First phase RC drilling completed.
Maiden JORC compliant Inferred Resource of 617 Mt at 32.1% Fe - covers only 40% of strike of first iron ore target.
Overall Exploration Target for magnetite revised to 1.5 – 2.0 Bt grading 30% - 40% Fe*– for southern part of Western BIF target alone.
Excellent results from comprehensive laboratory testing.
Average weight recovery of 44.63% and iron concentrate grade averaging 69.8%.
Very low silica content averaging 3.3%, with very low levels of sulphur and phosphorus.
Coarse grind still yields low silica concentrate.
High concentrate purity indicates potential for project to deliver BF (Blast Furnace) or DR (Direct Reduction) grade pellets.
Next phase drilling planned for August 2011 to extend resource over whole extent of the southern part of the Western BIF.
CORPORATE
Signs Memorandum of Understanding (MOU) with National Mineral Development Corporation Ltd (“NMDC”) for cornerstone investment, subject to regulatory approvals.
NMDC and Legacy look to acquire and develop additional resource projects.
Ongoing review of potential acquisition and corporate opportunities.
PLANNED ACTIVITIES – SEPTEMBER 2011 QUARTER
As detailed above, the principal activities will consist of:
Mt Bevan: Second phase 6,000m RC drilling over the rest of the southern Western BIF iron ore target, and calculation of a combined resource for this target. Diamond drilling and further metallurgical testing. Commencement of scoping study. Geological mapping and assessment of other magnetite/hematite targets in project area particularly Mt Alexander and 20km long Eastern BIF unit(s).
Mt Celia: Commencement of 1,200m RC drilling program at Blue Peter prospect. Assessment of other targets and prospects in project area.
South Laverton: Assessment and geochemical sampling.
East Kimberley: Further assessment of REE and base metal targets.
Robertson Range: Mapping and sampling at Narmana manganese prospect in E46/818.
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