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LEGEND MINING LIMITED Capital/Financing Update 2004
65223_rns_2004-03-09_b12a44b4-0476-4536-b1c4-3baf8c102685.pdf
Capital/Financing Update
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10 March 2004 ASX Release
Two New Gold Lodes Discovered at Gidgee Gold Project
Two new high grade gold lodes, Mali and Senegal, have been discovered adjacent to, and readily accessible from, current workings at the Swan Bitter underground gold mine (Figure 1). These lodes potentially open up a new 4.5 km long exploration target zone for additional new discoveries
Better gold intersections at Mali and Senegal include 12.60m @ 22.6 $g/t$ , 7.95m @ 33.50 $g/t$ and 5.65m $(a)$ 6.11 $g/t$ , respectively (Table 1).
Mineralisation on the Mali and Senegal lodes remains open in all directions. Legend believes these lodes will significantly add to the mine's reserves.
| - | - | ||||
|---|---|---|---|---|---|
| Hole No | From | To | Width | Gold Grade | Lode |
| (m) | (m) | (m) | $($ uncut g/t $)$ | ||
| GUD1008 | 102.60 | 115.20 | 12.60 | 22.60 | Mali |
| including | 104.20 | 112.15 | 7.95 | 33.50 | Mali |
| GUD1011 | 113.60 | 119.70 | 6.10 | 17.50 | Mali |
| GUD1012 | 109.00 | 113.40 | 4.40 | 19.06 | Mali |
| GUD1013 | 124.45 | 130.10 | 5.65 | 6.11 | Senegal |
| including | 124.45 | 125.80 | 1.35 | 15.56 | Senegal |
Table 1: Significant drill results from underground diamond drilling at Gidgee
Since taking over operations at the Gidgee project less than three months ago, Legend has focussed on aggressive underground diamond drilling to increase resources and reserves. The discovery of the high grade Mali and Senegal lodes, further west than previously identified gold mineralisation at Swan Bitter, vindicates the company's aggressive underground exploration program. Further results are due next week.
The Gidgee project, 90 km north of Sandstone in WA's northeastern goldfields, has currently produced in excess of 1.2 million ounces of gold.
Murray McDonald Director
Information in this report relating to exploration results is based on data compiled by Ian Cowden, a Fellow of the AusIMM, who is employed by Iana Pty Ltd. He has sufficient relevant experience to qualify as a Competent Person under the JORC Code and consents to the inclusion of the data in the form and context in which it appears.
Figure 1: Long Section of Swan Bitter Underground Workings at Gidgee