Australian exploration company Legacy Iron Ore has completed its maiden ore sale from the Mount Celia Gold operations.
The Perth based company has been preparing for this moment since mining operations started in November of the previous year at the Blue Peter pit.
First delivery, consisting of around 21,000t of ore, is said to be a “significant milestone” for the company.
Initial sale is part of an ore purchase agreement with Paddington Gold, a subsidiary of Norton Goldfields, and aligns with the company’s previously stated guidance that processing of the first ore would begin in the first quarter of 2024.
Legacy Iron Ore’s ongoing mineral resource drilling at the Yilgangi deposit and the Patricia North prospect holds the potential to further expand the company’s mineral resources. This could significantly enhance the Mount Celia Gold Project’s output and longevity.
Legacy CEO Rakesh Gupta said: “This first ore sale marks a significant step in the company’s history as we move towards gold production and revenue generation.
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“In November 2023, we advised the market that we would have our first gold in Q1 2024, and we are delivering on that.
“We are excited to announce Legacy’s maiden ore sale from the Mount Celia Gold Operations, South Laverton Project, with revenue generated to fund the ongoing expansion of the Mount Celia deposits through exploration activities.”
Legacy Iron Ore is a Western Australian (WA) based company, focused on iron ore, base metals, tungsten and gold development and mineral discovery.
Last year in October, Legacy secured final approvals from the state government to start mining at its Mount Celia gold deposit.
Paddington Gold Mine agreed to procure ore from the mine, to be later processed at its plant 35km north of Kalgoorlie.
