Legend Mining Ltd (ASX:LEG) has completed its regional 64 hole aircore drilling program at its 70% owned Rockford Project located in the Fraser Range of Western Australia.
Ultramafic and mafic rocks were intersected in seven of the eight traverses, and importantly olivine was observed in 10 of the 64 drill holes.
These results are considered highly encouraging as olivine is a key component in favourable host rocks for nickel-copper mineralisation.
Assay results are expected within 3-4 weeks.
Mark Wilson, managing director, commented:
"The presence of olivine bearing ultramafic/mafic rocks in ten of the 64 drill holes, with ultramafic/mafic rocks in seven of the eight traverses in a 400m spaced first pass aircore program is a very positive outcome."
Drill program details
The aim of the program is to generate the next set of reverse circulation and diamond drill targets.
Drilling focused on eight features selected from aeromagnetic and datasets as well as electromagnetic surveys.
The aircore drilling has greatly improved the geological knowledge in relation to the aeromagnetics and gravity data across the project.
Legend will now undertake a 5,400 station gravity survey covering an area of 435 square kilometres over the southern portion of the Rockford Project commencing in late November.
Analysis
Preliminary results from the drilling show intersections of rock types associated with nickel and copper mineralisation in a proven base metals region.
The Rockford Project is held in a joint venture with the Creasy Group, run by legendary prospector Mark Creasy.
The project is located 120 kilometres from the Nova-Bollinger nickel-copper discovery and 100 kilometres from the Tropicana gold mine.
The primary target is a Nova style nickel-copper mineralisation.
Notably, Legend’s managing director, Mark Wilson recently became a substantial shareholder in the company by purchasing 30 million shares on market. He now holds 5.41% of the company.
At the end of the September quarter, Legend was well funded with $11.2 million in cash and liquid assets.