the Legend Mining Ltd The share price (ASX: LEG) is up today following news from its Mawson Discovery Zone. There he encountered 2 new nickel-copper sulfide intersections.
At the time of writing this article, the Legend Mining stock price is up 10%, trading at 13 cents each.
Let’s take a closer look at today’s news from the miner.
Massive nickel-copper sulfide interceptions
According to the statement from Legend Mining, the company intercepted a large area of sulphides in its flagship prospect Mawson Ni-Cu-Co in Western Australia.
The results of the 2 holes were described by the company as “massive interceptions of nickel-copper sulphide”. The results come from a drilling program consisting of 4 holes, carried out on the site during the second half of April.
Of the 2 intersections, one was east-southeast of the Mawson discovery area. It included:
- 45 meters of semi-massive and massive sulphides, and
- 4 meters of net-textured, semi-massive sulphide.
The other was northeast of the discovery area. It included:
- 15 meters of massive sulphide, and
- 75 meters of net-textured, semi-massive sulphide.
Commenting on the findings, Legend Mining CEO Mark Wilson said:
The success of this year’s diamond drilling program accelerated with two new intersections of massive nickel and copper sulfide in broad bands of sulfide mineralization.
The distance between these holes and the discovery area, as well as the developing history of EM downhole surveys, continue to demonstrate a very large system driving Mawson, which corresponds to the potential of a large deposit.
Legend Mining Share Price Snapshot
Legend Mining’s share price had a good 2021 on the ASX, but its past 12 months have been poor overall.
Currently, the Legend Mining share price is up 18% year-to-date, although it has fallen 35% in the past 12 months.
The company has a market capitalization of approximately $ 330 million, with approximately 2.76 billion shares outstanding.
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Brooke Cooper, a Motley Fool employee, has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article only contains general investment advice (under AFSL 400691). Authorized by Bruce Jackson.