Legacy Iron Ore Ltd (LCY) has finalised the purchase of two of six highly prospective tenements in Queensland. Legacy Iron Ore Limited is a Western Australian based Exploration Company, focussed on iron ore and gold exploration and discovery. Legacy Iron’s mission is to increase shareholder wealth through capital growth, created via the discovery, development and operation of profitable mining assets.
Commenting on the development, Legacy Iron Chairman, Mr NK Nanda said: “The acquisition of the two tenements is an initial entry into the Queensland coal sector, with the remaining four tenements awaiting grant. An aggressive drilling program and environmental clearances are being prepared to rapidly identify a resource. Legacy is also continuing negotiations for additional investment in potential coking coal assets in Australia”.