ASX:LEG

15 December 2020

ASX Announcement

Rockford Regional Aircore Assays Received

  • Anomalous nickel-copper assays returned from Hurley Prospect
  • New nickel-copper targets identified in Rockford's Northwest

Legend Mining Limited (Legend) is pleased to announce the results from the first batch of assays received from an extensive 291 hole aircore drilling programme from the Rockford Project, Fraser Range, Western Australia. The programme commenced in September 2020 and was completed in the last week of November 2020 with assays from 96 of the 291 holes completed still pending as at the date of this announcement. Details of the results from the first 195 holes are discussed in the body of this announcement.

Legend Managing Director Mr Mark Wilson said: "We previously identified the Hurley prospect as a priority target from its favourable geophysics, geochemistry and geology. The anomalous assays returned from the up dip projection of the H3 conductor in the right host rocks is seen as further enhancement of the prospectivity of Hurley, which is on 100% owned Legend tenure. Diamond drilling will be prioritised there next year.

"The three anomalous assays returned in the Northwest are validation of our exploration philosophy in using broad spaced aircore drill programmes to identify areas for follow up aircore drilling and moving loop electromagnetic surveys. Closer spaced aircore is planned at these three areas in 2021."

Regional Aircore Drilling - Rockford Project

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Registered Office: Level 1 / 8 Kings Park Road, West Perth WA 6005, Australia

TECHNICAL DISCUSSION

Regional Aircore Drilling Programme

An extensive aircore drilling programme comprising 291 holes (RKAC916-1206) for 14,797m has been completed over the western and southern regions of the Rockford Project (see Figure 1). The drilling tested the up dip projection of three MLTEM conductors at Hurley (H1-H3) and one at Crean (C1) (see Figure 2), as well as 12 aeromagnetic and gravity features interpreted to be related to mafic/ultramafic intrusives.

Figure 1: Rockford Project - Aircore Drilling Areas and Anomalous Drillholes

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Registered Office: Level 1 / 8 Kings Park Road, West Perth WA 6005, Australia

Assay results from 195 of the 291 holes have been received with anomalous nickel-copper results from this first batch shown in Table 1 below.

Table 1: Regional Aircore Assay Results

Hole

From

To

Int

Ni%

Cu%

Co%

Description

RKAC956

32

44

12

0.10

0.03

0.02

Saprock over Mafic Intrusive

RKAC993

24

71 EOH

47

0.19

<0.01

0.01

Ultramafic Intrusive

RKAC1022

34

42

8

0.06

0.01

0.01

Saprock over Mafic Intrusive

RKAC1029

58

59 EOH

1

0.01

0.12

0.01

Metasediment / Granulite

RKAC1032

32

44

12

0.19

0.02

0.02

Mafic Intrusive

RKAC1083

20

32

12

0.01

0.17

0.01

Mafic Granulite

RKAC1100

44

53 EOH

9

0.06

0.05

0.01

Mafic Intrusive

RKAC1103

24

47

23

0.11

0.01

0.01

Mafic Intrusive

incl

32

36

4

0.25

0.02

0.03

Mafic Intrusive

This regional aircore programme is part of Legend's ongoing systematic strategy of identifying and testing new targets across the entire Legend managed Rockford Project. The geochemical review of the Rockford project, which identified Hurley as a priority prospect (see ASX 1 October 2020), is continuing to identify new targets, and this will be expanded with the addition of this new drilling data to the ever-growing database. The ultimate aim of the drilling is to define anomalous nickel- copper geochemistry associated with intrusive host rocks for follow up MLTEM surveying and RC/diamond drill testing.

Hurley & Crean Prospects - Aircore Results

Previous MLTEM surveying at Rockford South identified significant bedrock conductors at Hurley (H1-H3) and Crean (C1) (see Figures 1 & 2). The modelled parameters for these conductors are provided in Table 2.

Aircore drill traverses at Hurley and Crean were designed to test the up dip projection of the H1- H3 and C1 conductors. A total of 83 holes were completed at Hurley and 32 at Crean, with results from 15 holes at Hurley and 25 from Crean pending.

Four drillholes at Hurley (RKAC1029, 1032, 1100 and 1103) returned elevated nickel-copper associated with mafic intrusive and metasediment/granulite. Importantly these holes are located adjacent to the 4,000-7,000S H3 MLTEM conductor making this a priority target for deep drill testing (see Figures 2 & 3). The drill section in Figure 3 shows the relationship between the H3 conductor, anomalous nickel-copper geochemistry and the prospective mafic intrusive. The up dip drill testing of the H1 and H2 conductors did not return anomalous results, however, encouragingly confirmed the presence of mafic and ultramafic intrusives associated with both features.

RC/diamond drilling is planned at Hurley and Crean following the receipt of statutory approvals and a heritage survey.

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Registered Office: Level 1 / 8 Kings Park Road, West Perth WA 6005, Australia

Figure 2: Aircore Drillholes at Hurley and Crean Prospects over MLTEM Conductors

Table 2: Rockford South MLTEM - Modelled Plate Parameters

Prospect

Conductor

Conductance

Dimensions

Depth to Top

Orientation

Hurley

H1

2,500-4,000S

250 x 1,250m

225-275m

15-250 NNE

Hurley

H2

200-300S

1,000 x 750m

100-150m

70-800 SE

Hurley

H3

4,000-7,000S

500 x 300m

125-175m

~900 Strike NNE

Crean

C1

500-1,500S

>1,000 x 1,000m

500-600m

60-700 E/ESE

Figure 3: Hurley Section 6,550,200N Showing H3 Conductor and Anomalous Aircore Drillholes

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Registered Office: Level 1 / 8 Kings Park Road, West Perth WA 6005, Australia

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Legend Mining Limited published this content on 15 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 December 2020 21:50:04 UTC