🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Legend Mining fieldwork at Rockford Project hampered by wet weather

Published 02/07/2024, 12:02 pm
Updated 02/07/2024, 12:30 pm
© Reuters.  Legend Mining fieldwork at Rockford Project hampered by wet weather
PLS
-

Plans by Legend Mining Ltd (ASX:LEG) to progress exploration at the Rockford Project in Western Australia’s Fraser Range have been impacted by a series of significant weather events that have delayed field activities.

After unprecedented rainfall across the Rockford Project in March this year, further significant rainfall inundated the area last week, with 54mm recorded in the rain gauge at the Mawson camp on the morning of Friday, June 28.

This rain band stretched around 100 kilometres east from Zanthus with recordings of 47mm at Kanandah Station homestead and 40mm at Zanthus.

Survey delayed

Legend had planned to carry out a High Power Fixed Loop Electromagnetic extension survey at the Octagonal prospect and contractor High Power EM was ready to mobilise to site.

However, the rain meant this was not possible and Legend says it may be several weeks before High Power EM can access the project area.

The Trans Australian Railway access road was already closed to all traffic, having been closed by the Shire of Kalgoorlie Boulder since June 9, 2024, and the rain late last week is expected to extend that closure. Prior to June 9, access had been for 4WD vehicles only.

“Incredibly frustrating”

Legend executive chair Mark Wilson said: “This latest in a series of unseasonal downpours is incredibly frustrating for all of us at Legend, as it has put on hold any field programs for an indefinite period.

“The area has not dried out from the March deluge and the Trans Australia Railway access road remains closed, restricting site access.

“We will keep the market informed as further information comes to hand.”

Current Rockford Project tenements and prospect locations on gravity.

Future work

Despite the delays, the company is not resting on its laurels and continues to plan for future work programs, which include:

  • HPFLTEM extension survey at Octagonal;
  • Seismic reprocessing results from Octagonal;
  • Diamond drill hole target generation at Octagonal;
  • Heritage clearance for diamond drilling at Octagonal; and
  • Heritage clearance for diamond drilling at Mawson.

Tenement rationalisation

Meanwhile, Legend has further rationalised its tenure across the Rockford Project.

Considering the prevailing negative sentiment in the nickel market, Legend’s discipline to capital conservation and sterilisation of exploration tenure, the company has reduced the area of the Rockford Project under its management to 1,087 square kilometres from 1,597 square kilometres.

This rationalisation has resulted from a comprehensive assessment of prospectivity following a review of all available datasets and Legend said this would mean a significant reduction in project minimum commitment.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.