Legend Mining’s tenacious search for the next Nova-Bollinger lookalike in the Fraser Range just got real after the company encountered multiple intercepts of sulphides in the first drill hole. The hits include mineralization that is similar to that found at Nova-Bollinger and investors will no doubt be sitting on the edge of their chairs whilst the results are being assayed.
Legend Mining’s tenacious search for the next Nova-Bollinger lookalike in the Fraser Range just got real with multiple intercepts of sulphides from the first diamond drill hole in the latest program.
The company last month began a drill program to test a number of strong conductors encountered in the northern area of the Rockford project.
They announced on Tuesday that the first diamond drill hole in the program had intercepted multiple sulphide-bearing mafic intrusives at conductor N1. This included two prominent sulphide-rich intervals in a metasediment/granulite package.
The first interval of 1 metre from 693.8 metres features matrix to net-textured sulphides and includes massive sulphides over a 6 centimetre section.
The second interval of 2.8 metres from 738.7 metres contains zones of matrix sulphide that were clearly magmatic in origin, which is the mineralisation style of Nova-Bollinger. Assays from both sections will be reported as soon as they are available.
The company said the presence of multiple sulphide-bearing mafic intrusives in close proximity to metasediment/granulite made Area N a favourable location for the formation of magmatic nickel-copper mineralisation.
Legend is moving ahead quickly with a downhole electromagnetic survey to test for offhole conductors that might provide more clues as to the potential location of nickel-copper sulphides. A second diamond drill hole to test conductor N2, about 1 km northeast of N1 is already underway.
Legend Managing Director Mark Wilson said: “Legend has consistently characterised Area N as a developing story. The presence of massive and matrix to net textured sulphides in the right rocks in the first diamond drill hole is considered encouraging. The results from the downhole EM survey and next diamond drill hole are awaited with great interest.”
Investors were encouraged by the results, with Legend shares improving by 8% following the announcement.
Legend is exploring Rockford in a 70/30 joint venture with the revered Creasy Group. The partners have mounted a large, systematic and high-tech campaign that is rated by many as the best hope for a follow-up discovery to Nova-Bollinger in the region.