Legend Mining (ASX:LEG) has only been on the ground for less than three months at its Rockford Project in the Fraser Range of Western Australia, and the first conductors have already been identified.
To date, five conductors have been identified at Area D.
There is high conductivities of 9,000-17,000S associated with the three large and relatively shallow bedrock conductors.
Mark Wilson, managing director, commented:
“It is very satisfying to have identified these conductors using new and innovative EM techniques.
"We have only been on the ground at Rockford for 11 weeks and it is still early days.
"Our first half 2016 field work will now include reverse circulation drill testing of these conductors along with regional aircore and further EM work, details of which will be released, once final assessment of the 2015 field work is completed early in the new year.”
Area D
Area D has a discrete 1.5km x 1km gravity high (4mgal) with an associated magnetic signature suggestive of a structural fold closure or intrusive feature.
Legend said a total of 11 high powered (~200amp) MLEM lines spaced 150/300m apart were completed, identifying five highly to moderate conductive bedrock conductors at relatively shallow depth.
Conductors 1, 2 and 3 all have very high conductance levels which required infill lines utilising lower base frequencies (originally 1 Hz down to 0.5Hz & 0.125Hz) to better define the conductors and allow accurate modelling.
Conductor 4 represents a moderate strength, localised (~300x200m) conductor located within the central zone of the gravity high.
Conductor 5 is a strong and deeper level bedrock conductor defined along the western margin of the gravity high.
Analysis
The Rockford Project is part of an acquisition Legend recently made with the Creasy Group, which transitioned Legend to be one of the most dominant players in the Fraser Range.
Legend is well funded with $7.3 million in cash at the end of September 2015, which does not include investments (market value 26 October 2015 $3.5 million), and a $3 million receivable due in December 2016.
The next steps for Legend at Rockford include MLEM surveying at Areas A, E and F up to the Christmas break, which will continue in 2016 to complete any untested targets.
Legend is also planning a reverse circulation / diamond drilling program to test the conductors in Q1 2016.
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