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Legend Mining will see continued upward trajectory with further drilling success: Euroz

Legend Mining Limited (ASX:LEG) recently intersected a further 13.5 metres of massive nickel-copper sulphides in another diamond drill hole at Mawson prospect of the Rockford Project in WAs Fraser Range.

Hole RKDD013 returned 12 metres from 239.2 metres downhole and another 1.5 metres from 257.5 metres.

Euroz analyst Jon Bishop has maintained his Speculative Buy recommendation for Legend with a 30 cents per share price target (current share price: 16 cents, up 14% today).

The following is an extract from Eurozs Quick Comment on Legend dated May 4, 2020:

Key Points[hhmc]

A 13.5m zone of massive Nickel-Copper sulphides within a broader 21.6m zone has been encountered at RKDD013;
The hole is 20m south of the RKDD008 (5 zones of semi massive and massive Ni-Cu-Co & precious metals – assays reported 21/04/20);
Notably the mineralisation has occurred within an interpreted mafic intrusive unit (previous mineralisation encountered occurs within metasediments);
A 12m interval of massive Ni-..

Legend Mining Limited (ASX:LEG) recently intersected a further 13.5 metres of massive nickel-copper sulphides in another diamond drill hole at Mawson prospect of the Rockford Project in WAs Fraser Range.

Hole RKDD013 returned 12 metres from 239.2 metres downhole and another 1.5 metres from 257.5 metres.

Euroz analyst Jon Bishop has maintained his Speculative Buy recommendation for Legend with a 30 cents per share price target (current share price: 16 cents, up 14% today).

The following is an extract from Eurozs Quick Comment on Legend dated May 4, 2020:

Key Points

  • A 13.5m zone of massive Nickel-Copper sulphides within a broader 21.6m zone has been encountered at RKDD013;
  • The hole is 20m south of the RKDD008 (5 zones of semi massive and massive Ni-Cu-Co & precious metals – assays reported 21/04/20);
  • Notably the mineralisation has occurred within an interpreted mafic intrusive unit (previous mineralisation encountered occurs within metasediments);
  • A 12m interval of massive Ni-Cu sulphides was encountered from 239.2m downhole and a second 1.5m section from 259m:
  • The intercepts visually compare with the recently released assays (dd 21/04/20) that graded +2.5%Ni; +1.3% Cu; +0.14% Co; plus Au, Pt, Pd;
  • The core is being prepared and sent for assay. Timing of assays on that basis will be late-May;
  • RKDD012 – drilled 20m to the north – encountered 42.7m of disseminated Ni-Cu sulphides from 103.2m downhole (consistent with the shallow zone in RKDD007);

FORWARD PROGRAMME

  • DHTEM at RKDD013 to identify, size and position off and in-hole conductors to locate future drill holes;
  • The diamond rig will move to the RKDD014 location to drill the next hole;
  • Review of structural and geological data from RKDD012 to better orient future holes to define the deeper massive sulphide units encountered in RKDD007;
  • Air-core will continue to infill the c.200x300m geochem anomaly that has given rise to the Mawson discovery and explore a large magnetic feature due east of the Mawson location.
  • Read More – Source

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Australia

Argonaut Resources directors show faith in company by participating in oversubscribed SPP

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP[hhmc]
The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money ..

Argonaut Resources NL (ASX:ARE) directors have demonstrated their faith in the company’s copper-zinc strategy by participating in the recently closed share purchase plan (SPP).

Independent non-executive chairman Patrick Elliot purchased more than 4.465 million shares at 0.55 cents per share in an indirect interest.

He now holds 5,876,159 shares in that interest with another 20,324,574 held in a separate indirect interest.

Independent non-executive chairman Malcolm Richmond acquired more than 5.454 million shares in a direct interest, increasing the number held in this interest to almost 15 million with another 1 million held in an indirect interest.

Overwhelming response to SPP


The company was overwhelmed by the response to its SPP which closed early and more than twice oversubscribed with the target subsequently increased to $2.5 million from $1.2 million.

Subscriptions in excess of $3 million were received and as a result, the SPP was closed with immediate effect.

Money raised under this SPP and from the recently completed $2.7 million share placeRead More – Source

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Strickland Metals shares jump 39% ahead of drilling base metal target near DeGrussa

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey[hhmc]
Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilomet..

Strickland Metals Ltd (ASX:STK) shares surged 39% today ahead of its maiden drilling program at the Doolgunna Project, which will include a diamond drilling program that is likely to begin by the end of this month.

As a part of the program, a minimum of four diamond holes will be drilled to a depth of 500 metres to test a VMS target similar to the nearby DeGrussa deposit of Sandfire Resources (ASX:SFR).

Heritage survey


Exploration activity has recommenced on the Doolgunna Project following completion of heritage surveys to allow land access to areas where the company wishes to complete exploration drilling.

The target for drilling is a compelling base metal prospect that exhibits geological characteristics that are interpreted to be similar to Sandfire Resources’ DeGrussa deposit about 30 kilometres to the east of the project.

The prospect has a 3-kilometre-long electromagnetic conductor that lies below an outcropping copper-zinc gossan that has been mapped over a 1.2-kilometre strike.

Diamond core drilling


The company plans to start the diamond core drilling by the end of this month.

A multi-purpose drill rig has been contracted to enable the minimum planned program wRead More – Source

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Pan Asia Metals has positive discussions on plans for Thai lithium project

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions[hhmc]
Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Ng..

Pan Asia Metals Ltd (ASX:PAM) has had positive discussions with authorities in Phang Nga Province, Thailand, including the provincial government, for its Reung Kiet Lithium Project.

PAM has submitted a presentation covering all aspects of the project including methods of ongoing exploration, conceptual mining and concentrate production, and the potential for downstream value-adding industries in Phang Nga and Thailand.

The presentation and subsequent discussions were aimed at assisting Phang Nga Provincial Government in their considerations for the proposed mining and industrial development areas.

Provincial Government discussions


Pan Asia was recently invited by the chief executive officer of the Phang Nga Provincial Administrative Organisation (PAO), a Phang Nga Provincial Government coordinating body, to represent PAM and the Reung Kiet Lithium Project.

The meeting was also attended by the head of Phang Nga Provincial Industry along with the representatives of the Phang Nga Provincial Public Works and Town Planning Office.

Phang Nga Provincial Industry head has been appointed by the Phang Nga governor as chairman of the Phang Nga New Town Planning Committee.

During the meeting, the chairman of the committee conveyed its support for the Reung Kiet Lithium Project.

PAO wants to ensure that the requirements of the Reung Kiet project are incorporated into the town planning committee’s zoning plans to ensure that the project can progress once exploration and feasibility results prove positive.

“Can bring opportunities”


PAM managing director Paul Lock said: “We have been working hard in Phang Nga province and we are very happy with the positive reception that the Reung Kiet Lithium Project is receiving from the Phang Nga Provincial Government and surrounding communities.

“Reung Kiet is strategically located and based on peer feasibility work the project is positioned to potentially be one of the lowest-cost suppliers of lithium chemicals in the global peer group.

“This is a project that can bring substantial opportunities and value to Phang Nga and Thailand.”

Pan Asia is planning its second Reung Kiet drilling program with expectations that this will begin in the coming months following the conclusion of the current Khao Soon drilling program.

Potential cost curve leader


Reung Kiet is a hard rock project with lepidolite rich pegmatites chiefly composed of quartz, albite and lepidolite with minor cassiterite and tantalite as well as other accessory minerals including some rare earth.

Lepidolite does not require roasting and has a suite of by-products which are recoverable at the concentrator and processing stages of the flow sheet.

Peer feasibility work has Read More – Source

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