Legend Mining delivers massive sulphides at Mawson Project, retains Speculative Buy rating from Euroz Hartleys

Legend Mining Limited (ASX:LEG) major step-out drilling has delivered massive sulphides at its Mawson project and secured a price target of $0.30 cents/share from Euroz Hartleys analyst Jon Bishop. One drill hole, 400 metres ESE of the main Mawson area, delivered 10.4 metres of net-textured and semi-massive sulphides over three zones from 131.6 metres to 177 metres downhole and 2.5 metres semi-massive to massive sulphides from 180.9 metres downhole (with assays pending). Another drill hole 1.2 kilometres ENE of the main area delivered excellent mineralisation from 453.2 metres to 458.1 metres downhole with 1.2 metres massive and 3.75 metres net textured thru semi-massive sulphides. Assays are pending and the hole will now undergo DHTEM. “Results highlight scale potential” Bishop said the results were material and validated Euroz’s view that Mawson could a major nickel-copper-cobalt-platinum group elements intrusive complex with both lateral and vertical extent. He said: “The results demonstrate aerial scale as well as width with clear evidence of potential to extent material below metasedimentary units that have otherwise obscured exploration results to date. “We are excited: at over 1x2 kilometres in aerial dimension and clear evidence of mineralisation extending several hundred metres below surface, we cannot but help to draw parallels to the major nickel discoveries globally. “Chalice Mining Ltd (ASX:CHN) (OTCQB:CGMLF) – at $2.5 billion in market capitalisation – is testament to valuation potential as a major mineral discovery evolves in terms of scale but importantly, repeatability in terms of drilling success following proven exploration methodology. “We believe that with two diamond rigs currently operating and increasingly clear evidence that geophysics and aircore are providing reliable metalliferous targets, Mawson will grow in size over the short to medium term.  “We retain our Speculative Buy recommendation and 30 cents per share price target.”