Legend Mining Limited (ASX:LEG) is riding high after hitting multiple massive sulphide intersections in the first diamond drill hole this year at Mawson prospect within the Rockford Project in WA’s prolific Fraser Range.
Shares have been up almost 95% today to a new 12-month high of 13 cents on volume of 50 million by midday with a total of 41.5 metres of nickel-copper sulphide mineralisation intersected in hole RKDD008.
Legend managing director Mark Wilson said: “Legend’s 2020 field season has had a spectacular start. “The three massive sulphide intercepts clearly stamp this hole as the most significant and exciting discovery in the Fraser Range post Nova.
“It has been a true team effort, hats off to all concerned!”
Rockford project – Mawson location.
IGO and Creasy Group active
Rockford is in the same region as the operating Nova Bollinger Nickel-Copper Project of IGO Ltd (ASX:IGO) with IGO and prominent Fraser Range explorer Mark Creasy and his Creasy Group Pty Ltd holding investments in Legend.
The diamond drill hole was designed to test an off-hole conductor identified by a downhole electromagnetic survey in the initial ‘discovery’ diamond drill hole, which was reported in December 2019.
This discovery hole returned 14.9 metres at 1.07% nickel, 0.75% copper and 0.06% cobalt from 114 metres.
Visual and geological observations from the new hole demonstrate the presence of materially significant mineralisation at Mawson.
RKDD008 and proposed diamond drill hole locations on aeromagnetics.
The hole intersected five significant intervals of nickel-copper sulphide mineralisation, three of which comprise massive sulphides of pyrrhotite-chalcopyrite-pentlandite:
- 5.8 metres from 148 metres: Heavy disseminated to semi-massive nickel-copper sulphides;
- 10.4 metres from 153.8 metres: Semi-massive, heavy disseminated and massive nickel-copper sulphides;
- 5.6 metres from 199.4 metres: Massive nickel-copper sulphides;
- 6.9 metres from 218.2 metres: Massive nickel-copper sulphides; and
- 12.8 metres from 234.9 metres: Massive nickel-copper sulphides.
Sampling of the drill core for assay has not been undertaken at this stage and this will be completed immediately following detailed structural logging with assay results expected 2-3 weeks later.
An extensive program of DHTEM surveying with multiple loop configurations has begun to test for extensions to the mineralisation and will assist future drill hole design.
Wilson said: “A downhole EM survey and structural analysis of the core are now being undertaken.
“The results of these next steps will enable us to design the drill program to further delineate this mineralisation.
“Samples for assay will be sent to the laboratory following the completion of the structural analysis and results are expected 2-3 weeks thereafter.
“Meanwhile the diamond rig has relocated to drill the next hole under the discovery aircore hole RKAC151 and we look forward to updating the market as new results come to hand.”
Geological and geophysical data from the two diamond drill holes will be integrated into the Mawson 3D geological model.
Legend will continue diamond drilling of hole RKDD009 under previous aircore drill hole RKAC151, which returned anomalous nickel-copper-cobalt geochemistry.
Infill aircore drilling is also continuing.