Legend Mining : Seismic Data Modelling Lights Up Mawson

ASX Announcement

ASX:LEG

TECHNICAL DISCUSSION

HiSeis has completed the 3D seismic survey data processing phase for the Mawson Prospect. Time

onlyand depth modelling has been completed, with delivery of the final 3D cube (see Figure 1). usepersonal

Terra Resources Principal Consultant Mr Barry Bourne said "A detailed geological and geophysical review lead to the concept of seismic to further advance exploration at Mawson. Forward planning and modelling coupled with conventional seismic acquisition and advanced processing techniques has resulted in a world class outcome as evidenced by the detail in this announcement."

The aim of the survey was to define the architecture of the Mawson intrusion in relation to the stratigraphic package, to a depth of investigation of a minimum 1000m below surface across a 6.5km2 area (see Figure 2). In addition, a more detailed survey on the western side of the survey area was designed to test for a direct detection signature of Ni-Cu-Co sulphide accumulations at the Mawson discovery zone, given the shallow nature of mineralisation (<250m below surface). The seismic signature of the Mawson discovery zone is clearly evident (see Figure 3 and Figure 4) and importantly appears to replicate in an offset position below the discovery zone, presenting a compelling diamond drill target.

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ASX Announcement

ASX:LEG

onlyuse

personalData processing and subsequent modelling has been completed for the Mawson 3D seismic cube. The results highlight the excellent correlation between the seismic dataset and the existing detailed constrained gravity inversion (see Figure 5 and Figure 6). The newly acquired 3D seismic data supports the exploration model at Mawson, that a large intrusive source continues at depth below drilling completed to date. 3D seismic reflectors clearly map the mineralised chonolith in drilled areas down to 500m below surface. The chonolith is interpreted to extend below 500m, below the Mawson fault, to a possible keel position at ~800m to 1,000m (see Figure 3 and Figure 4). This interpretation is supported with drill data from RKDD030 and RKDD033 which both intersected mineralised intrusion below the Mawson fault, proximal to the new priority target zones (see ASX Announcements 20 November 2020 and 1 December 2020 and Photo 1). This interpreted keel position is defined by a complex set of

Forreflectors and structural breaks, consistent with the seismic signature of the Mawson discovery zone (see Figure 3). The base of this interpreted keel of the Mawson chonolith is coincidental with the large, flat-lying D8 FLTEM conductor (see Table 1).

Photo 1: Net-textured and heavy disseminated Ni-Cu sulphide from RKDD033 from 394m, NQ2

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