South Laverton

Legacy’s gold projects lie within the Laverton Tectonic Zone, considered to be one of the worlds most prolific gold belts holding approximately 30Moz.

The South Laverton project includes the flagship gold asset Mt Celia, as well as Yerilla, Yilgangi, Patricia North and Sunrise Bore projects. The Company has successfully upgraded the resources for Mt Celia and Yilgangi to JORC 2012, adding ounces, and identifying additional gold occurrences within close proximity to historical drill results.

Mt Celia Project

The Mt Celia Project lies within the Laverton Tectonic Zone, some 40km south of the Sunrise Dam gold mine, holding approximately 8Moz. The Project currently contains several known gold occurrences including Kangaroo Bore and Blue Peter prospects, and hosts a JORC 2012 resource of 6.97 Mt @ 1.39g/t for 312,600 ounces.

MT Celia Project – Aerial Image showing prospect locations

As announced on 3 March 2022, the Company has upgraded the mineral resource estimates for Mt Celia Kangaroo Bore and Blue Peter orebodies.

The previous mineral resource estimates for Kangaroo Bore and Blue Peter were prepared by SRK in November 2017, January 2018 and February 2021, respectively. Since then, Legacy has conducted several drilling programs aimed at increasing the geological confidence of the resource quality.

The data acquired from these programs up to June 2021 have been used in conjunction with the existing data to update the mineral resource estimates. Mineral Resource Statements for Kangaroo Bore. Blue Peter and Margot Find released to the ASX on 3 March 2022 are presented in table 1 to table 4 below. The estimates for both deposits are based on a cut-off grade of 0.7 g/t Au.

The resource estimation results are summarized in tables 1, 2, 3 and 4.

Note: values are based on a 0.7 g/t Au block cut-off.

(Note: please refer to ASX announcement made on 03 Mar 2022 for the complete statement about the above Kangaroo bore, Blue Peter and Margot Find resource estimates.)

Yilgangi Project

The Yilgangi Project hosts the Golden Rainbow JORC 2012 deposit, containing 225kt @ 1.40g/t for 10,316 ounces. The project includes two exploration tenements (E31/1019 and E31/1020) and two mining leases (M31/426 and M31/427) and contains numerous gold occurrence/anomalies.

The Company plans to further systematically explore at surface, and delineate gold mineralisation both along strike and down dip from historical drill results.

RC drillhole locations completed in this year in the Yilgangi Project

RC drilling was carried out in the Yilgangi tenements in June 2021. A total of 25 holes were drilled for 1335 meters over all four tenements. The drilling has returned strong results, increasing confidence in the known mineralisation at the Rainbow and Golden Rainbow prospects.

Yerilla Project

Yerilla is part of the South Laverton Gold Project and comprises three Mining Leases (M31/107, M31/229 and M31/230). Murrin Murrin Holdings Pty Ltd and Glenmurrin Pty Ltd are the registered holders of the leases; Legacy Iron holds 90% of the rights for precious metals on the tenements.

Yerilla project lies within the Kurnalpi Terrane of the Eastern Goldfields Superterrane. Outcropping geology comprises a sequence of northwest-striking mafic volcanics, ultramafic rocks and felsic volcanics variably intruded by the McAuliffe Well Syenite.

The project hosts known gold mineralisation at the Bull Terrier deposit related to a sub-vertical NNE-striking brittle fault zone in the McAuliffe Well Syenite. Mineralisation is characterised by hematite alteration with the addition of biotite, calcite and pyrite.Legacy Iron plans to update the resource estimate at Bull Terrier in accordance with JORC 2012 standards.

Patricia North Project

Patricia North is part of the South Laverton Gold Project and comprises Exploration licence E 31/1034. The tenement is considered highly prospective for gold mineralisation and lies 1 km north of the Patricia Mine. The tenement is situated on the eastern margin of the Norseman-Wiluna Archaean Greenstone Belt within the Kurnalpi Terrane of the Yilgarn Craton. The tenement overlies part of a north – northwest trending stratigraphy comprising mafic and felsic volcanics and metasediments of the Mulgabbie formation (1:100 K GSWA Geology).

Several northwest and northeast trending mafic dykes cross-cut the regional stratigraphy. The NNW trending Mt. Celia Tectonic Lineament passes through the project area.The Company plans to drill test the tenement (provided the clearance from Heritage group), drill plan shown in figure below.

Map showing planned exploratory drillholes at Patricia North Project

Sunrise Bore

The Sunrise Bore project lies some 12 km east of the world class Sunrise Dam gold mine operated by AngloGold Ashanti. A number of prospective shear structures have been identified within the project area associated either with gold anomalism noted in earlier field work and/or nugget gold found by recent prospecting. Work done to date has identified numerous anomalies for follow-up.

Map Showing identified anomalies in the Sunrise Bore project

In the past, significant geochemical auger soil sampling covered the significant portion of the tenement. The geochemical assays resulted in the identification of high priority gold anomalies, the best of which was the anomalism at Kingsley 1 and 2.The company plans to drill test the geochemical targets in the tenement in the near future and further increase the ounces in the South Laverton Gold hub.

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