Legacy Iron Ore and its partners have begun drilling at the Mt Bevan joint venture, targeting lithium, caesium, and tantalum pegmatites.

The move follows extensive preliminary work, including reconnaissance, geophysics, and sampling.

The joint venture involves Legacy Iron Ore, Hawthorn Resources (ASX:HAW), and Hancock Magnetite Holdings. Drilling aims for 6,000m to 8,000m across five sites.

Hancock Magnetite may increase its stake to 51% by funding $17 million of additional exploration and development, contingent on drilling results.