Legend Mining (ASX: LEG) holds projects in Cameroon West Africa, with the company’s focus on the discovery of iron ore, base metal and precious metal deposits.
The company is currently exploring at its Ngovoyang project, which covers more than 2,000km2 and is well serviced by existing road, rail and port infrastructure. Legend believes Ngovoyang’s size, prospectivity and infrastructure has the potential to be a “company maker”.
Legend Mining (ASX: LEG) has received assay results from first two diamond drillholes from the Alpha and Hill 419 targets at the Ngovayang Project in West Africa, returning 98 metres at 28.8% iron and 33.78 metres at 29.6% iron.
The 2011 drill programme is designed to cover multiple targets at the Ngovayang project.
Legend said both intersections compare favourably with the previous metallurgical test sample, which returned a concentrate of 70.8% iron with low impurities.
Managing director Mark Wilson said the assay results of the magnetite discovered so far at the company's Ngovayang Project in the Cameroon, West Africa, produces a high grade, low impurity concentrate at a relatively coarse grind.
"The fact we have empirical evidence that the Niton readings consistently undercall the assay values and that further good intercepts of magnetite have been found in the first pass reconnaissance drilling at Melombo North are all positive signs for the project.”
A ten hole drilling program has also recently been completed at the Melombo North target, where downhole intersections of 94.85 metre and 58.42 metres magnetite gneiss were discovered.
Nine of the ten drillholes intersected “magnetic” rocks of varying intensity and thickness explaining the large magnetic response of the prospect.
Magnetic modelling is being undertaken to assist interpretation and ultimately whether there is potential for sufficient tonnages of magnetite gneiss to be viable for mining.
Legend’s 2011 drill program is designed to cover multiple targets at the Ngovayang, with drill rigs already mobilised at the Melombo West target, with drill pad preparation and access works progressing at Melombo East and Plateau 1 and 2 prospects.
In other good news for Legend, earlier in the week the company struck a rail and port access agreement with fellow Australian Cameroon iron ore company, Sundance Resources (ASX: SDL).
The letter of intent provides for the two Australian‐based companies with iron ore assets in Cameroon to examine ways for Legend to use Sundance’s proposed infrastructure and rail and port haulage to Legend’s Ngovoyang Project.
The infrastructure forms part of Mbalam Iron Ore Project located in Cameroon and Congo in central West Africa.
Both Sundance’s Mbalam Project and Legend’s Ngovoyang Project are located in the southern region of the Republic of Cameroon.
The proposed rail route being developed by Sundance passes in close proximity to the southern boundary of Legend's Ngovoyang Project.