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Legend Mining drilling third hole at Area D looking for next Nova

The diamond hole is targeting nickel copper sulphides beneath scout aircore drilling that intersected nickel and copper mineralisation.

Legend Mining Limited - Legend Mining drilling third hole at Area D looking for next Nova
Core from diamond drilling being logged on site before being sent to the lab for assays

Legend Mining Limited (ASX:LEG) has commenced drilling its third diamond drill hole RKDD007 at Area D within the Rockford Project in Western Australia.

Legend’s managing director Mr Mark Wilson said: “The positive results from the first hole were a key driver in the decision to drill a third hole whilst the rig is on site.

“This hole will target the gabbronorite host rock beneath the previously identified anomalous aircore nickel-copper mineralisation.

“Further analysis of the core logging, assays and petrology from the second hole and reconciliation of previous LF-MLTEM with downhole EM models is required to plan the next programs at the D1 conductor.”

The map below shows the aircore results which diamond hole RKDD007 is targeting.

Industry heavyweight IGO increases stake in Legend

Earlier this year, nickel heavyweight Independence Group (ASX:IGO) became a substantial shareholder of Legend with an initial 11.94% stake.

The holding came as a result of agreements signed with Independence and well-known prospect Mark Creasy’s Creasy Group Pty Ltd.

These agreements included three new joint ventures covering parts of Legend’s large Rockford Project and raising $9.8 million in a two-tranche subscription arrangement with Independence.

In October 2019, Independence increases its stake from 11.94% to 14.18%.

Quick facts: Legend Mining Limited

Price: 0.042 AUD

ASX:LEG
Market: ASX
Market Cap: $99.63 m
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Legend Mining signs agreements with Creasy and Independence to boost value...

Legend Mining Limited (ASX:LEG) managing director Mark Wilson updates Proactive Investors on the signing of transformational joint venture agreements with super prospector Mark Creasy's Creasy Group Pty Ltd, and Independence Group NL (ASX:IGO), in farm-in deals aimed at unlocking more...

on 12/7/19

2 min read