Legend Mining Ltd (ASX:LEG) shares have climbed another 7.1% to 4.5 cents in afternoon trade, with over 6 million changing hands.
Driving the valuation of the company are exploration results which continue to map out the potential scale of the Rockford Project in the Fraser Range of Western Australia.
The importance of today’s new assays and petrology results are that they confirm anomalous nickel-copper geochemistry in olivine gabbronorite in third intrusive body at Area D.
Aircore highlights include:
- RKAC253: 21 metres at 0.34% nickel, 0.05% copper and 0.04% cobalt from 64 metres; and
- RKAC255: 37 metres at 0.25% nickel, 0.03% copper and 0.04% cobalt from 78 metres.
Both holes ended in mineralisation, adding potential at depth.
Earlier in the month, when there was confirmation of a second mineralised intrusive body, results included: 19 metres at 0.23% nickel, 0.33% copper and 0.02% cobalt from 52 metres with the hole ending in mineralisation.
Mark Wilson, managing director, commented:
"These new results confirming a third mineralised intrusive body, support Legend’s earlier statements that Area D is prospective for multiple such intrusions.
"Also the anomalous nickel-copper assays in holes 249/252/253 some 800 metres east of holes 167/230 add a dimension to that previously identified intrusion.
"We see these and other recent results as demonstrating the prospectivity for nickel-copper-cobalt deposits at not only Area D but the whole of our Rockford Project and indeed the entire Fraser Zone."
Rockford background
Rockford is positioned in the highly prospective Fraser Range and covers a total area of 2,792 square kilometres.
The majority of the project is the subject of a joint venture between Legend (70%) and Creasy Group (30%), with Legend operator and manager.
Legend wholly-owns 262 square kilometres of the project.
Upcoming news flow
Legend's upcoming exploration program has it commencing regional aircore drilling over selected targets in the southern area of the Rockford Project.
The company will also conduct a full geological and geochemical assessment of the Area D aircore drilling program, and integrate the results of the geophysical review with a geological/geochemical dataset to assist in the planning of future programs.