Legend chases source of magnetic conductors
The intrigue around Legend Mining’s Rockford project in the famed Fraser Range is building as the company prepares to undertake two Down Hole Electromagnetic Survey’s in search of the source of two strong magnetic conductors.
The company is hoping that at least one of those magnetic signatures might turn out to be another Nova Bollinger style nickel deposit with similarities to Sirius Resources’ celebrated discovery.
The Nova Bollinger deposit sits on a similar tenor gravity ridge to that of Legend’s Rockford Project and the two projects are only about 120km apart at their extremities in the Fraser Range.
The company recently completed a 5 hole RC drilling program at the Rockford project with two holes abandoned before reaching target depth due to technical difficulties and one 11 000S conductor explained by the presence of a 22m graphite schist from 174m down hole.
Conductor D2 however is far more interesting. Whilst this drill hole did intersect a 10m graphite schist at the 141m mark, the company has interpreted that it is unlikely to be responsible for the very strong 17000S magnetic signature emanating from that area.
Legend believes there may be a second conductor in this area, possible at around the 250m mark however the drill hole that finished at 284m failed to directly intersect it.
This has led to the interpretation that the drill hole may have missed the centre of the magnetic source and a down hole survey is now being undertaken to determine if the conductor is just off hole with the down hole survey able to find magnetic signatures up to 100m away from the drill hole.
Conductor D4 is also still a live option for Legend with a down hole electromagnetic survey now planned to test the existence of off hole conductors in this area.
Importantly, samples from all five drill holes have been submitted for full multi-element analysis with results expected within 3-4 weeks.
The company says the current round of drilling is just the beginning of a larger exploration play designed to fully understand the geology of the region whilst systematically honing in on the more promising targets.
Legend Managing Director Mark Wilson said, "These five holes are another step in the process of systematic exploration of our entire project. We are looking forward to the upcoming DHEM programme and the assay results from the RC holes to integrate with existing datasets to assist in the planning of future works”
And with $8.7m in cash and liquid investments, Legend are pretty well placed to find whatever might be lurking beneath the surface at the Rockford Project.