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LEGEND MINING LIMITED — Capital/Financing Update 2010
Dec 20, 2010
65223_rns_2010-12-20_4736b984-73b3-4047-9c07-1c23384fb3a7.pdf
Capital/Financing Update
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ASX:LEG 21 December 2010 ASX Announcement
LEGEND SECURES TITLE OVER HIGHLY PROSPECTIVE EXTENSION OF NGOVAYANG PROJECT
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New permit increases the Ngovayang Project by 667km[2]
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Reprocessing of aeromagnetic data highlights magnetic features
NEW PERMIT GRANTED
Legend Mining Limited (Legend) is pleased to announce that a new exploration permit, EP221 (“Ngoyang2”) was officially granted to its 90% owned subsidiary Camina SA in Cameroon on 17 December 2010. The new permit is immediately south of EP144 at the Ngovayang Project and increases the project area by 667km[2] to a contiguous 2,972km[2] , see Figures 1 & 2.
Legend Managing Director Mark Wilson said, “With the permission of the relevant authorities we included this area in our February 2010 aeromagnetic survey and, given the prospectivity highlighted in the survey, the grant is an important step in the development of the project”.
AEROMAGNETIC DATA REPROCESSING
Reprocessing of the aeromagnetic data has been completed aimed at highlighting features with the highest magnetic intensity, see Figure 1. This reprocessing has outlined linear magnetic features interpreted to represent stratigraphic units of itabirite or metamorphic banding associated with magnetite-bearing gneiss.
As well as defining these linear features, the magnetic image also identifies areas with structural complexity related to folding and faulting. These structural sites are very important, as they may represent locations with high grade hematite formation due to supergene/alteration processes.
Visit www.legendmining.com.au for further information and announcements.
| For more information: | |
|---|---|
| Mr Mark Wilson | Mr Derek Waterfield |
| Managing Director | Exploration Manager |
| Legend Mining Limited | Legend Mining Limited |
| Ph: (08) 9212 0600 | Ph: (08) 9212 0600 |
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Legend Mining Limited ABN 22 060 966 145 Telephone: +61 8 9212 0600 Facsimile: +61 8 9212 0611 Level 2, 640 Murray Street West Perth Western Australia 6005 Email: [email protected] P.O. Box 626 West Perth Western Australia 6872 Website: www.legendmining.com.au
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Figure 1: Aeromagnetic Image (Analytical Signal of Total Magnetic Intensity)
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Legend Mining Limited ABN 22 060 966 145 Level 2, 640 Murray Street West Perth Western Australia 6005 P.O. Box 626 West Perth Western Australia 6872
Telephone: +61 8 9212 0600 Facsimile: +61 8 9212 0611 Email: [email protected] Website: www.legendmining.com.au
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Figure 2: Cameroon Project Location
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Legend Mining Limited ABN 22 060 966 145 Level 2, 640 Murray Street West Perth Western Australia 6005 P.O. Box 626 West Perth Western Australia 6872
Telephone: +61 8 9212 0600 Facsimile: +61 8 9212 0611 Email: [email protected] Website: www.legendmining.com.au