Legend Mining Ltd (ASX:LEG) is very well-funded with a treasury of circa $12 million, and the company is ready for the next exploration steps at its Rockford Project in the Fraser Range of Western Australia.
Legend recently encountered several similarities to a Nova-Bollinger style system from diamond drilling, and assays are currently pending.
The company has now commenced an extensive moving loop electromagnetic (MLTEM) program at Rockford, aimed at testing the newly defined targets for bedrock conductors.
These targets may represent massive nickel-copper mineralisation associated with mafic/ultramafic intrusives.
Mark Wilson, managing director, commented:
“The visual assessment and Niton XRF analysis of the first two diamond holes at the Rockford Project has greatly enhanced the prospectivity of the entire project area.
"As a result we have commissioned the next phase of MLTEM surveying to commence immediately.
"We will consider further drilling at Area D once a comprehensive review of all datasets is completed in the coming weeks."
Eight areas (Areas G to N) have been selected for MLTEM surveying, based on detailed aeromagnetic/gravity data and from recently gained knowledge from diamond drilling at Area D.
The encouraging results from Area D including; sulphides in cumulate gabbro and sulphide bearing country rocks, validate the process of target selection.
Legend has also recently completed a 2,423 station infill gravity survey over the eastern portion of Rockford, which has greatly assisted target selection and prioritisation.
Rockford covers 2,939 square kilometres and comprises eight contiguous granted exploration licences, with a large portion of the project subject of a joint venture between Legend (70%) and the Creasy Group (30%).
Legend is the operator and manager of the joint venture.
The primary target is Nova style nickel-copper mineralisation hosted in high grade mafic granulites within the Fraser Complex.
A secondary target is Tropicana style structurally controlled gold mineralisation.
The project is 120 kilometres north-east of Nova, and 100 kilometres south of Tropicana.
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