Legend Mining (ASX:LEG) - Managing Director, Mark Wilson (left)
Managing Director, Mark Wilson (left)
Source: Business News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Legend Mining (LEG) has received assay results from its first diamond drill hole of 2020
  • The results have come from the Mawson prospect, which is part of the Rockford Project in WA
  • This first hole aimed to test a high-grade conductor that was identified by an electromagnetic survey in December last year
  • Results from the next three holes are expected to be released tomorrow
  • After entering a trading halt yesterday, Legend’s shares are locked up at 18.5 cents each

Legend Mining (LEG) has received first assay results from diamond hole RKDD008 at the Mawson prospect.

Mawson is part of the Rockford Project, which is located in the highly prospective Fraser Range district in Western Australia.

Exploration at this project is primarily focused on nickel-copper mineralisation, volcanogenic massive sulphide (VMS) style zinc-copper-silver, and structurally controlled gold mineralisation.

Hole RKDD008 was designed to test an offhole conductor that was discovered by an electromagnetic survey in hole RKDD007 in December 2019.

This offhole conductor was believed to represent a down-plunge extension of significant nickel-copper sulphide mineralisation.

As announced to the market on March 31, Legend also intersected five significant areas of nickel-copper sulphide mineralisation in hole RKDD008.

The samples were then sent to the laboratory for analysis and results have been received today.

The results

Two areas of semi-massive and massive nickel-copper sulphides were intersected and returned results of 10.4 metres at 1.32 per cent nickel, 1.11 per cent copper and 0.07 per cent cobalt from 153.8 metres, and 5.8 metres at 0.97 per cent nickel, 0.61 per cent copper and 0.05 per cent cobalt from 148 metres.

The remaining three areas intersected zones of massive nickel-copper sulphides and returned results of 12.8 metres at 2.76 per cent nickel, 1.36 per cent copper and 0.14 per cent cobalt from 234.9 metres, 5.6 metres at 2.85 per cent nickel, 1.86 per cent copper and 0.15 per cent cobalt from 199.4 metres, and 6.9 metres at 2.55 per cent nickel, 1.67 per cent copper and 0.14 per cent cobalt from 218.2 metres.

“The results and photos from the sulphide zones in hole eight confirm economic grades of nickel-copper-cobalt. In simple terms this is pay dirt,” Managing Director Mark Wilson commented.

What’s in store?

Despite entering a trading halt yesterday, the company is still preparing an exploration update, which will announce the results from holes nine, 10 and 11. This is expected to be released tomorrow.

Legend shares are locked in at 18.5 cents each.

LEG by the numbers
More From The Market Herald
The Market Herald Video

" Latin Resources (ASX:LRS) confirms lithium spodumene discovery at Colina West

Latin Resources (ASX:LRS) has confirmed a new lithium spodumene discovery 500 metres west of the Colina…
The Market Herald Video

" Elementos (ASX:ELT) off to an “encouraging” start at Oropesa

Elementos (ASX:ELT) intersects additional tin mineralisation at its Oropesa project in Spain.
The Market Herald Video

" African Gold (ASX:A1G) appoints Canyon Resources (ASX:CAY) co-founder as new MD

African Gold (ASX:A1G) has appointed Phillip Gallagher as its new Managing Director.
The Market Herald Video

" Nexus Minerals (ASX:NXM) intersects more broad high-grade gold at Crusader-Templar, WA

Nexus Minerals (ASX:NXM) has intersected broad high-grade gold at the Crusader-Templar prospect within its Wallbrook gold…