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Legend Mining Limited ( (AU:LEG) ) has shared an announcement.
Legend Mining has extended a key geophysical anomaly at its Pyrophyllite Hill prospect within the Pinnacle Well Project near Leonora, with infill induced polarisation surveys increasing the strike extent of a strong chargeable-resistive feature to about 600 metres and down to 400 metres depth. The feature coincides with extensive pyrophyllite alteration, a multielement hydrothermal soil signature and historical anomalous geochemistry, and is interpreted as disseminated sulphides associated with silica alteration or quartz veining, creating a compelling drill target for gold mineralisation as the company moves to ground truthing, drill design, heritage approvals and subsequent drilling.
The Pyrophyllite Hill prospect is considered highly prospective for intrusion-related and structurally controlled gold due to a large pyrophyllite alteration footprint close to structures linked to the Keith-Kilkenny Fault Zone. Recent geophysical work, including GAIP and PDIP surveys, has refined the subsurface model, distinguishing shallow low-chargeability zones related to pyrophyllite outcrop from deeper, stronger chargeable zones that may indicate sulphide-rich mineralised systems, potentially enhancing Legend Mining’s exploration pipeline and value proposition if drilling confirms significant gold mineralisation.
The most recent analyst rating on (AU:LEG) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Legend Mining Limited stock, see the AU:LEG Stock Forecast page.
More about Legend Mining Limited
Legend Mining Limited is an Australian mineral exploration company focused on discovering and advancing gold and base metal deposits. Its Pinnacle Well Project, located near Leonora in Western Australia, targets intrusion-related and structurally controlled gold mineralisation within a regionally significant structural corridor.
Average Trading Volume: 930,141
Technical Sentiment Signal: Sell
Current Market Cap: A$29.14M
See more insights into LEG stock on TipRanks’ Stock Analysis page.