Avid market followers will no doubt look to punt Legend Mining’s stock today at around .008c/.009c a share after the company announced they were commencing a 1050m drilling campaign to identify the source of three conductors at the Fraser Range.
The drilling campaign will target three recently identified fixed loop electromagnetic conductors known as D6, D7 and D8.
The three targeted conductors were identified during a recent drilling campaign that discovered two conductors known as D2 and D5 amongst others.
The D2 conductor was recently drill tested with a 10m dreaded graphite schist appearing at the 141m mark.
However, the on ground team did not feel that this adequately explained the strength and depth modelling of the original conductor and further survey work was undertaken in the area.
Another deeper and stronger conductor now known as D6 was subsequently identified immediately to the south east of the D2 conductor and Legend commenced drill testing this target today.
D6 is considered a priority target and shows a modelled conductance of 5,000S-8,000S, at a target depth of 325-400m
The original D5 conductor was poorly constrained and subsequent ground surveying work discovered that in fact there are two conductors at D5 now known as D7 and D8.
The latest campaign will also target those two conductors which have a modeled conductance of 6,000-8,000S for D7 and 3,000-4,000S for D8.
Legend’s ground is on a similar tenor gravity ridge to the Sirius Resources Nova Bollinger find just 120km away which will make this campaign a little more interesting than most – particularly if they hit something.
By Matt Birney
