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Legend Mining Ltd Commences Diamond Drilling In Fraser Range

Legend Mining Ltd (ASX:LEG) has the drill rig spinning at its Rockford Project in the Fraser Range of Western Australia.

A diamond drilling program has commenced at Area D, with the two hole 1050 metre program targeting the recently defined fixed loop electromagnetic conductors D6 and D7/D8.

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.

Drilling details

Drillhole RKDD001 is testing conductor D6, which has a modelled conductance of 5,000-8,000S, at a target depth of 325-400 metres.

The second drillhole is designed to intersect conductors D7 (6,000-8,000S) and D8 (3,000-4,000S) with target depths for the two features ranging between 400-550 metres.

Well-funded

Legend is the envy of many explorers, considering its cash position.

The company has cash and liquids of circa $8.7 million, plus $3 million at 4% in December 2016.

Analysis

Legend is set to increase news flow with its diamond drilling at Rockford, where the primary target is Nova style nickel-copper mineralisation.

Rockford is 100% within Fraser Zone, taking up 18% of the total area, with infrastructure access.

The project is 120 kilometres north-east of Nova, and 100 kilometres south of Tropicana.

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