Legend Mining Ltd (ASX:LEG) has received assays results from aircore drilling at its Shackleton prospect within the Rockford Project located in the Fraser Range region of Western Australia.
The 32-hole program for 1,139 metres at Shackleton showed indications of volcanic-hosted massive sulphides (VHMS) style mineralisation.
Notably, the mineralisation is similar to the Independence Group Ltd (ASX:IGO) Andromeda copper-zinc discovery located 7 kilometres to the southwest.
READ: Legend Mining continues systematic approach to exploration in highly prospective Fraser Range
Legend’s managing director Mark Wilson said: “These first assay results from our new Shackleton prospect have shown indications of VHMS style mineralisation and greatly enhance the prospectivity of the entire 24 kilometres of this stratigraphic trend.
“Follow-up aircore drilling and ground electromagnetic programs are scheduled to commence within the next fortnight and results from this work will shed further light in this area.”
The biggest block on the best street
Legend continues to hunt nickel sulphides in its 2,621 square kilometres of tenure in the globally renowned Fraser Range region.
The exploration focus is on the Rockford Project which is prospective for Nova style nickel-copper sulphides and Tropicana style gold deposits.
A regional aircore program is ongoing with 195 holes for 12,153 metres completed to date over aeromagnetic, gravity and structural targets in the Rockford South region.
The regional program has provided valuable geological information over the southern portion of Rockford and will be completed in mid-November 2018.
Nickel stockpiles diminishing
Legend believes the nickel market is well positioned with the supply-demand balance being in deficit since 2016.
Stockpiles continue to diminish from their peak of 900,000 tonnes in 2015, which has supported rising prices.