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Legend Mining returns 116 metre magnetite intersection from drilling in Cameroon

Legend Mining (ASX: LEG) has confirmed the magnetite potential of the Ngovayang Project in Cameroon based on assays from Melombo East, as the company works towards an exploration target.

Assay results from two diamond drill holes at Melombo East returned commercially significant intercepts of:

-    116.2 metres at 26.2% iron, including 79.1 metres at 29.7% iron; and
-    80.5 metres at 36.6% iron.

Both holes ended in high grade, plus-35% iron mineralisation.

The current drilling program aims to delineate the extent and dimensions of the magnetite gneiss and provide information which could be used in establishing an Inferred Resource.

Legend managing director Mark Wilson said: “These assay results, coupled with the coarse grained nature of the magnetite and width of the intercepts, are potentially very significant for the project.

“The depth of both holes was constrained by the capability of the drilling equipment and the grades at the bottom of both the holes are at the higher end of the results. Our challenge now is to increase the pace of our drilling activity and as quickly as possible better define the magnetite potential at Melombo East.”

Based on the existing drilling and ongoing geophysical modelling, Legend expects to deliver an exploration target in the near future.

Melombo East has a current mapped footprint of 2.5 square kilometres, containing coarse grained magnetite.

To date, seven holes of a 22 hole program have been drilled at Melombo East, testing a complex aeromagnetic feature that stretches 6 kilometres by 1.5 kilometres.

Detailed geological mapping has defined two areas of outcropping and subcropping magnetite, biotite and garnet gneiss.

In total, Legend has an extensive 3900 square kilometre land holding in the Republic of Cameroon, prospective for gold and iron ore.

The company has announced plans to spin off its assets in Western Australia’s Pilbara region in order to focus on its operations in the country.

Infrastructure agreement

The potential of Legend’s Ngovoyang project is supported by a rail and port access deal struck earlier this year with fellow Cameroon-focused Australian iron ore company Sundance Resources (ASX: SDL).

Under the agreement, the two companies will examine ways for Legend to use Sundance’s proposed infrastructure and rail and port haulage.

This infrastructure forms part of Sundance’s Mbalam Iron Ore Project, located on the border of Cameroon and Congo.

Both Mbalam and Ngovoyang are located in the south of the Republic of Cameroon, with Sundance’s proposed rail route passing close to Ngovoyang.