Nickel-copper-cobalt explorer Legend Mining (ASX:LEG) is refining drill targets within the Alpha North prospect at the Pinnacle Well project in Western Australia after identifying features over 700 metres of strike.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The company is using results from low-impact geophysical surveys and chip sampling at Alpha North in its drill planning at the newly-acquired project.
The surveys identified coincident chargeable and resistive features that are interpreted to represent sulphides at relatively shallow depth, which the company is aiming to test in its maiden drilling there. These, chair Mark Wilson said, have gone some way to enhancing the gold prospectivity of the project.
“What attracted us to the project initially was the presence of widespread gold anomalism at surface and no significant recent exploration activity. The last hole at the project was drilled in 2014,” Mr Wilson told shareholders.
“Our soils and mapping are developing a better understanding of the geology, and, importantly, the geophysics is… shedding light on subsurface features,” he added. These will be bolstered by work Legend is already running that focuses on the new creation of 3D models of subsurface features.
The Alpha North prospect hosts extensive quartz veining over 3km, with two significant clusters identified. High-grade historic gold rockchip sample results of 91.9, 64.1, and 39.0 grams per tonne were returned from the location.
More recently, 56 chip samples were taken by Legend in December while sampling the extensive quartz veining at Alpha North. When combined with 41 historic rockchip samples from this area, 35 samples have now returned grades of 0.1g/t.
Also in recent news, the Australian company has acquired a 100% interest in four exploration licences over the area and has “right of first refusal” (ROFR) over seven adjacent “Linger and Die Group” tenements.
LEG is down -5% at 1c. The company’s market cap stands at $29.14 million.
Join the discussion: See what HotCopper users are saying about Legend Mining Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.