Legend Mining Ltd (ASX:LEG) has used exploration data from multiple sources to conclude that the D5 conductor target is its top drill target at Area D within the Rockford Project in Western Australia.
Aircore drilling, geochemical analysis and geophysical modelling data was reviewed to confirm D5 as the highest priority diamond drilling target.
Diamond drilling is planned for later this year once final electromagnetic surveying and modelling is complete to finalise the diamond hole location at D5.
Legend’s managing director Mr Mark Wilson said: “This comprehensive wrap up of results from the Area D prospect represents the culmination of several months of fieldwork and desktop studies.
The nett result has given our team the confidence that conductor D5 represents our top priority diamond drill target at this prospect.
“Our geophysical consultants have recommended an additional low frequency EM survey to enable them to better model D5. Once the results from this survey are analysed the next step is the eagerly awaited diamond drill programme.”
Industry heavyweight IGO takes stake in Legend
This morning, nickel heavyweight Independence Group revealed that it has become a substantial shareholder of Legend with a 11.94% stake.
The holding comes as a results of the recent agreements signed with Independence and well-known prospector Mark Creasy’s Creasy Group Pty Ltd.
These agreements include three new joint ventures covering parts of Legend’s large Rockford Rroject and raising $9.8 million in a two-tranche subscription arrangement with Independence.
Proactive caught up with Legend last Friday for an update.