Legend Mining Ltd (ASX:LEG) is in a trading halt with an announcement pending in relation to a proposed capital raising and joint venture agreements.
The halt will remain in place until the start of ASX trading on Wednesday, July 10, 2019, or when an announcement is released to the market, whichever occurs earliest.
Securities of the company, which is active in the prolific Fraser Range of WA, last traded at 2.9 cents.
Legend is exploring multiple prospects for nickel-copper, copper-zinc-silver, and gold at its Rockford project, which hosts similar geology to Independence Group NL’s world-class Nova-Bollinger deposit.
READ: Legend Mining eyes the next Fraser Range discovery at Proactive’s CEO Sessions
The company’s managing director Mark Wilson will present Legend’s story to investors at the Proactive CEO Session in Sydney on Monday, July 25 and Melbourne on Tuesday, July 26.
There are two key target areas in the 2,379 square kilometre project – Area D and Rockford South – at which the company is focusing most attention.
Exploration at Area D has identified 17 targets labelled D1-D17 and three prospects have been identified at Rockford South being Shackleton, Crean, and Worsley.
READ: Legend Mining latest drill results at Worsley build case for VMS deposit
Earlier this month, Legend received assay results from 12 infill aircore drill holes drilled at the Worsley Prospect.
Results feature 28 metres at 0.17% zinc and 1.37 g/t silver from 40 metres including 4 metres at 0.71% zinc, 1.71 g/t silver, 0.11% nickel and 0.09% cobalt.
Legend believes these early results are indicative of a volcanogenic massive sulphide (VMS) system.
Register now for the CEO Sessions: