Oct 16 2014
Legend Gold Corp. (the "Company" or "Legend") has completed its review of the recent gradient-array IP survey which has upgraded the potential karst-related oxidized gold targets on the Lakanfla Project, consisting of the Lakanfla and Tinntiba exploration permits.
The gradient-array IP survey at the Lakanfla Project was completed in mid-July 2014 and covered 37 sq km which included all of the Lakanfla exploration permit, and a significant portion of the Tinntiba exploration permit. The review combined the geophysical data with data from termite mound and soil gold geochemistry, data from previous drilling campaigns as well as regional geology, airborne magnetics and ground gravity data reported in the Company's news release dated January 15, 2014.
Six targets have been outlined based on a coincidence of structures intersecting gravity lows (Figure 1: Lakanfla Gravity Compilation). Early drilling indicates that some of these targets in part show thickened laterite cover and karst-fill sediments suggesting holes did not reach basement and consequently did not reach the target zone. The main gravity lows are also coincident with localized strong resistivity lows (Figure 2: Lakanfla IP Resistivity).
The coincidence of the geophysical characteristics, geochemical indicators, and lithological features, greatly enhance the potential for karst-fill mineralization. The genetic model is based on the Yatela Mine (approximately 1.8 M oz historical gold production as reported on the owners' website) which is in similar geology as well as some of the Sadiola Mine satellite orebodies, FE3 and FE4, located about 15 km to the north. Both the Yatela Mine and the Sadiola Mine are owned by a joint venture of AngloGold Ashanti, IAMGOLD and the government of Mali. The exploration model (Figure 3: Lakanfla Karst Model Gold Enrichment) envisages mineralized structures intersecting favorable carbonate host rocks (Kofi Group) on the Lakanfla exploration permit. At such intersections, structures become the preferential locus of carbonate rock dissolution and collapse (karsts) giving rise to residual concentrations of oxide gold mineralization in the karst. At Lakanfla, the presence of a 1 km long artisanal mining area in Kofi Group calcareous siltstones adjacent to a major gravity low, as well as, known mineralization trending into the gravity lows, reinforces the exploration potential of the karst-enrichment model.
The results greatly enhance the exploration potential of the karst-enrichment model and Legend is evaluating various options to explore these exciting targets, which lie 15 km southeast of the Sadiola Mine mill, either on its own behalf or with a joint venture partner.
Qualified Person
Dr. Demetrius Pohl, PhD., Certified Professional Geoscientist (CPG), Legend's VP of Exploration, is the Company's Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosures for Mineral Projects of the Canadian Securities Administrators, and has approved the written disclosure of the technical information contained in this news release.
About Legend
Legend is a Canadian mineral exploration and development company focused on gold exploration in West Africa. Legend's flagship projects include the Diba, Lakanfla, Tabakorole (formerly Tiekoumala) and Mougnina projects and the Randgold JV. Further information is available at the Company's website www.legendgold.com.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/lgn1015fig1.pdf.
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/lgn1015fig2.pdf.
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/lgn1015fig3.pdf.
Source: http://www.legendgold.com