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Legend Mining shares surge on Fraser Range nickel-copper sulphide discovery

Shares hit a new 12-month high of 12 cents this morning, nearly triple their last close of 4.2 cents, with almost 114.7 million being traded valued at more than $10 million.

Legend Mining Limited - Legend Mining shares set to rip higher on nickel-copper sulphide discovery
More assays are pending from the drill hole

Legend Mining Limited (ASX:LEG) shares have been up as much as 180% after the company revealed assay results for discovery diamond hole RKDD007 at its Mawson Prospect within the Rockford Project in Western Australia's Fraser Range.

The hole intersected 14.9 metres at 1.07% nickel, 0.75% copper, 0.06% cobalt from 114 metres including 2.1 metres at 2.03% nickel, 1.24% copper, 0.11% cobalt.

Notably, the 14.9-metre sulphide zone occurs within a larger 70.15-metre disseminated sulphide halo suggesting the presence of a large mineralised system.

The 70.15-metre disseminated sulphide halo starts at 76 metres below the surface and is open in all directions.

Mawson within large magnetic feature

Legend's managing director Mr Mark Wilson said: “This discovery hole at Mawson is an outstanding exploration success and a watershed moment for all Legend stakeholders and indeed all of the Fraser Range.

"The 2.1-metre high-grade intercept within a 14.9-metre sulphide zone is within a 70-metre disseminated sulphide halo and has all the hallmarks of a large mineralised system.

"Mawson lies within a 16km x 6km mag feature within a distinctly different stratigraphic package of rocks from the other known Fraser Range occurrences of massive sulphides at Nova, Silver Knight and Octagonal. Legend holds a dominant land position over this Eastern Stratigraphic package.

"I would like to thank all of our employees, consultants and contractors who have been part of this journey to date.

"I also acknowledge the contribution of the Creasy Group Exploration team, without whose advice and assistance we would not be where we are today.”

Assays received for only part of the hole

Only 30 metres from the 70.15-metre sulphide interval in the discovery diamond hole has been assayed to date.

Samples from 88.2-113 metres and 143-158.35 metres will be sent to the lab for assaying after the core has been logged.

Follow-up diamond drilling will be aimed at defining the extent of nickel-copper mineralisation at Mawson.

 

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Price: 0.14 AUD

ASX:LEG
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Market Cap: $353.5 m
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Legend Mining's Mark Wilson hails best results to date at Mawson and updates...

Legend Mining Limited's (ASX:LEG) Mark Wilson tells Proactive's Andrew Scott they've hit their best result yet at Mawson from hole 18 - an intersection of 4.5 metres at 3.05% nickel, 2.32% copper and 0.19% cobalt the best grades to date. Wilson adds that they recently received strong support...

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