New Legend drill campaign to target 'compelling' Fraser Range prospect

LEGEND Mining has kicked off a 3000m RC campaign at its Mawson nickel-copper discovery in the Fraser Range that will target a “compelling” prospect and which is expected to take 4-6 weeks to complete as aircore drilling continues.
New Legend drill campaign to target 'compelling' Fraser Range prospect New Legend drill campaign to target 'compelling' Fraser Range prospect New Legend drill campaign to target 'compelling' Fraser Range prospect New Legend drill campaign to target 'compelling' Fraser Range prospect New Legend drill campaign to target 'compelling' Fraser Range prospect

Legend will idle down its diamond core drilling over the next couple of months in the Fraser Range

The prospect is described as an eastern geochemical anomaly featuring a large gravity high.

Legend said the RC rig is being used because it is cheaper and quicker than diamond, yet still provides a platform for downhole EM and allows for diamond tails to chase any deeper targets identified.  

Legend's discovered Mawson late last year after a number of years of systematic greenfields exploration.

The company raised A$20 million early this month by issuing new shares priced at 14c each.

The raising was cornerstoned by the explorers two major shareholders, Mark Creasy and IGO.

Shares in Legend were down 3.5% to 13.5c in early trade capitalising the company at $320 million.