Legacy Iron Ore (ASX: LCY) continues to unlock the vast potential of the Mt Bevan Iron Ore Project joint venture in the central Yilgarn, with very strong Davis Tube Recovery (DTR) metallurgical test results.
The average iron concentrate grade is 69.8%, with a very low silica content averaging 3.3%, and low levels of sulphur and phosphorus.
The average weight recovery is 44.63%.
These results confirm the potential for the project to deliver blast furnace or direct reduction grade quality pellets.
Sharon Heng, chief executive officer added, “Mt Bevan is attracting several overseas companies for potential investment in the company.
“It combines a potentially very large magnetite resource with low strip ratios and excellent metallurgy, in a location close to road, rail and an existing deep water port."
The overall exploration target for magnetite has been revised to 1.5 – 2.0 billion tonnes at 30% - 40% iron, just for the southern part of the western banded iron formation target.
The next phase of drilling at the project is planned for August 2011 to extend the resource.
Legacy Iron is earning a 60% interest in Mt Bevan from Hawthorn Resources (ASX: HAW), by committing $3.5 million to exploration and completion of Pre-Feasibility studies before the end of calendar year 2012.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/18015/legacy-iron-ore-magnetite-recoveries-of-698-with-low-impurities-at-mt-bevan-18015.html
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