Legend Mining Limited (ASX:LEG) has received further evidence of the strong nickel-copper sulphide potential of the Mawson discovery at Rockford Project in WA's Fraser Range with new assays from diamond drilling including 14.45 metres at 2.63% nickel, 2.09% copper and 0.14% cobalt from 162.05 metres.
Managing director Mark Wilson said: “The overarching point is the amount of nickel-copper sulphide mineralisation we continue to see at Mawson speaks to a large system driving the mineralisation event at this prospect.”
Investors share the optimism with shares as much as 15% higher at the opening to 12 cents while the company's market cap is approximately $281.2 million.
Platinum and palladium as well
Wilson said: “The prospectivity at Mawson has been enhanced by the material widths and grades of the massive nickel-copper sulphide in hole 27 along with the presence of platinum and palladium numbers.”
Apart from the 14.45-metre intersection, other notable assays from hole RKDD027 are;
- 11.6 metres at 0.75% nickel, 0.67% copper, 0.04% cobalt from 187.4 metres, including 1.60 metres at 2.48% nickel, 1.50% copper, 0.12% cobalt from 188.85 metres;
- 6 metres at 1.7% nickel, 1.44% copper, 0.09% cobalt from 214 metres, including 3.75 metres at 2.60% nickel, 2.23% copper, 0.13% cobalt from 215.8 metres; and
- 6 metres at 1.07% nickel, 0.82% copper, 0.05% cobalt, 0.06 g/t palladium, 0.45 g/t platinum from 229 metres, including 1.75 metres at 2.75% nickel, 1.90% copper, 0.13% cobalt, 0.17 g/t palladium, 1.50 g/t platinum from 231.8 metres.
Additionally, drill hole RKDD029 returned assays of 2 metres at 2.75% nickel, 1.63% copper, 0.15% cobalt from 171.2 metres.
Observations in RKDD032
Wilson said: “The mineralisation observed in hole 32 is continuing to develop our knowledge of the nature of the remobilised nickel-copper sulphide in the vicinity of this hole.”
An interval of 38.79 metres of nickel-copper sulphide mineralisation was observed in drill hole RKDD032 including:
- 10.97 metres of massive and semi-massive sulphide; and
- 27.82 metres of disseminated, vein, and heavy disseminated sulphide.
Mawson diamond drill hole locations.
Mawson future programs
The company will undertake the following activities in the near term:
- Completion of DHTEM program on completed DD and RC drill holes;
- Ongoing DD drilling program targeting known sulphide mineralisation, geochemical anomalies, DHTEM targets, and structural targets;
- Ongoing integration of DD, RC, aircore and geophysical datasets to evolve 3D emplacement model of Mawson and assist future diamond drill hole planning/design; and
- Phase I sighter metallurgical test-work on massive sulphide identified at Mawson.