Rods turning again for Legend in Fraser Range

Legend Mining has kicked off the next phase of exploration at its Rockford project in the Fraser Range of Western Australia with the commencement of a two-hole diamond drilling program that will test for nickel-copper sulphide mineralisation at the D1 and D5 prospects. The company is targeting nickel-copper sulphide mineralisation similar to the nearby Nova and Silver Knight deposits.

Rockford covers over 3,088 square km of prime exploration real estate in the Fraser Range, 120km northeast of IGO’s revered Nova-Bollinger discovery and 100km south of Tropicana, operated by AngloGold Ashanti and IGO. 

The D1 and D5 prospects were highlighted by a low-frequency moving loop electromagnetic, or “LF-MLTEM” survey recently completed by the company.

The D5 prospect was identified initially through a MLTEM survey and is located in a favourable structural setting, near a large regional fold in the rocks. Historical air core drilling to the south of the D5 prospect yielded a notable result of 14m at 0.37% nickel, 0.43% copper and 0.03% cobalt from 72m down-hole.

Further aircore drilling at D5 defined a coherent 500m by 200m blanket of anomalous nickel-copper-cobalt values up to 47m thick.

Meanwhile, Legend received the first $250k monthly payment from Jindal Mining and Exploration for the sale of the Cameroon Iron Ore project. The company is set to receive these monthly windfalls over the next 11 months for a total owing of $3 million, which will also attract an additional 4% interest payment on the outstanding amount.

Legend Mining is well supported by Western Australia’s mining glitterati with wily prospector, Mark Creasy’s, Creasy Group and the $3.75b market capped Independence Group, owning nearly 27% and 14.2% of the company respectively.

Legend’s combination of unique Fraser Range experience and knowledge, sizeable cash at bank figure and gaggle of well-to-do bbackers give the companya real chance at a new find in this most revered of mineral provinces.

Is your ASX-listed company doing something interesting? Contact : matt.birney@businessnews.com.au