Legacy Iron Ore Limited (ASX:LCY) Announces Progress on Mt. Bevan Magnetite Project
Project Progress
Legacy Iron Ore Limited has submitted Mining Lease application M29/448 to the Department of Energy, Mines, Industry Regulation and Safety. Additionally, miscellaneous licences for water infrastructure, infrastructure, and transport corridors have been lodged, with access agreements progressing with existing tenement holders.
Operational Developments
The design of the drilling program for water exploration has been completed and will commence once relevant tenements are secured. Product logistics studies and optimisations are ongoing, and alternate power supply solutions are being explored to enhance efficiency. Environmental and heritage-related surveys are scheduled to begin in Autumn 2025.
Future Plans
The Forward Works Program includes securing project tenure, converting the Exploration Licence to a Mining Lease, conducting groundwater exploration, and optimising transport and power options. The project remains on track to complete the Forward Works Plan within the anticipated timelines and budget.
Executive Comments
Chief Executive Officer Rakesh Gupta stated, “The planned activities as per the Feasibility studies Stage 1 for the Mt. Bevan project are progressing as per the project timeline. An application of a Mining Lease over the project marks a significant step towards the further development of the project, which has huge potential to shape the Yilgarn region mineral landscape. The Company with the support of its major shareholder, NMDC Limited, is committed to developing the project, along with its JV partner (Hancock).”
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