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Material Exploration Results from Ponton JVA 2019 Tenements of Legend Mining

Mining News - Published on Wed, 28 Aug 2019

Image Source: legendmining.com.au
Legend Mining Limited has provided a summary of exploration results completed by Creasy Group over tenements E28/1716and E28/1717, Ponton JVA 2019 tenements, as background information for Legend's General Meeting to be held on 27 September 2019. The tenements cover a combined area of 709km2, which is contiguous with Legend’s existing Rockford Project in the Fraser Range of WA (see Figure 1) and contain the advanced Ni-Cu-Co prospects Octagonal and Magnus. Details of these prospects and key terms of the Ponton JVA 2019 are included in the body of this report. Legend Managing Director Mr Mark Wilson said, ‘With the release and despatch of the Notice of Meeting to shareholders for the upcoming General Meeting, we felt it was important that shareholders have these exploration results to assist them to make an informed decision when voting for Resolution 1 at that meeting. The results clearly demonstrate the statement that Octagonal is now the third publically disclosed example of massive nickel-copper mineralisation identified to date in the Fraser Range (along with Nova and Silver Knight) and that Magnus has the right host rocks for the mineralisation we are seeking. Our first task will be to conduct our innovative moving loop electromagnetic (MLTEM) surveys over both prospects. The interpretation of conductors identified in these surveys will be greatly enhanced by the known geological characteristics already identified in the work by the Creasy Group.”

Highlights

82m @ 0.18% Ni, 0.15% Cu, 0.01% Co from 168m in OCT006 (RC drillhole)
o Incl. 1m @ 1.55% Ni, 0.53% Cu, 0.08% Co from 174m
o Incl. 1m @ 2.24% Ni, 1.52% Cu, 0.12% Co from 199m

0.36m @ 0.89% Ni, 0.29% Cu, 0.12% Co from 497.07m in OCT002 (DD)

0.55m @ 0.82% Ni, 1.23% Cu, 0.05% Co from 181m in OCT014 (DD)

Magnus also has similar aeromagnetic character as Nova and drilling has identified the same host rocks as Nova

Tenements contain two advanced nickel-copper prospects Octagonal and Magnus Octagonal has similar aeromagnetic character as Nova and drilling returned multiple intersections of massive, semi-massive, net textured, stringer and disseminated pyrrhotite-pentlandite-chalcopyrite

Source :

Posted By : Rabi Wangkhem on Wed, 28 Aug 2019
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