Legend Mining identifies iron ore potential in Pilbara

June 3, 2008

June 3rd (Trading Markets) – Legend Mining Ltd (ASX:LEG) has confirmed the presence of seven strike kilometres of Cleaverville Formation within a 100pc-owned granted tenement at its Pilbara Project in Western Australia.

The Cleaverville Formation hosts the 1.6bn-tonne Cape Lambert Magnetite Project held by Cape Lambert Iron Ore Ltd (ASX:CFE) which is 15km to the northeast.

Legend’s Pilbara Project also contains 10.5 strike kilometres of Cleaverville Formation on tenements subject to the Mt Marie Joint Venture with Fox Resources Ltd (ASX:FXR) in which Legend is earning a 70pc interest.

Fox’s May 30 announcement, “Fox Backs up Mt Oscar with New Iron Ore Prospects”, highlights the Mt Kristie and Mt Catherine prospects on the joint venture tenements.

The Archaean Cleaverville Formation is a part of the Gorge Creek group of banded iron formations and clastic sedimentary rocks.

It is overlain by the Mt Roe Basalt, which is the basal unit of the Fortescue Metals Group Ltd (ASX:FMG).

The Cleaverville Formation is clearly evident in high-resolution aeromagnetic data, but has not yet been followed up with ground reconnaissance or sampling by Legend. Geological mapping and surface sampling is envisaged in the near future.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: