Legend Mining (ASX: LEG) has reported compelling geophysical and rockchip results at its Pinnacle Well Project, significantly enhancing gold prospectivity at the Alpha North prospect.
These encouraging findings guide upcoming drill targeting and follow recent tenement expansions bolstering the company's Western Australian exploration efforts.
Alpha North Geophysics Identifies Targets
Geological Applied Potential (GAIP) surveys identified four distinct chargeability highs within Alpha North's granodiorite.
These highs correlate with elevated chargeability and strong resistivity features over a ~700m strike length, interpreted as potential shallow sulphides.
PDIP inversion suggests deeper, higher chargeable responses at 75–200m depths, possibly representing disseminated sulphides.
The company is now undertaking 3D modelling to refine interpretation and guide future drill targeting.
Rockchip Results Support Gold System
A total of 56 new rockchip samples, combined with 41 historic samples, yielded 35 samples grading more than 0.1 g/t Au.
Notably, 10 of these samples returned more than 1.0 g/t Au, indicating significant gold presence.
Elevated silver, bismuth, copper, and molybdenum values imply an intrusive-derived component to the mineralisation.
Extensive auriferous quartz veining has been observed over a 3 km area, with historic high-grade gold assays recorded up to 91.91 g/t Au.
These results highlight strong structural controls within the prospect, which covers four licences totalling 128 km2.
Pinnacle Well Project Expansion
In late 2025, Legend expanded its Pinnacle Well Project footprint through the acquisition of 100% interests in tenements E37/1235 and E37/1417.
These new tenements are contiguous with Legend’s existing ground, which has significantly enhanced the overall exploration footprint and target prospectivity.
Additionally, the company secured a Right of First Refusal (ROFR) over seven adjacent Linger and Die Group tenements, providing future optionality for further expansion.
Funding Runway and Exploration Costs
Legend Mining concluded the September 2025 quarter with a healthy cash balance of A$11.1 million.
The company estimates a strong funding runway of approximately 17.3 quarters, supported by A$1.775 million in R&D refunds received during the quarter.
Exploration and evaluation activities accounted for an outflow of A$478k during the September 2025 quarter, demonstrating ongoing investment in its projects.
Legend's latest results at Alpha North present a strong case for enhanced gold prospectivity, supported by geophysical targets and encouraging rockchip assays.
While the company has expanded its footprint and maintains a robust funding runway, the key will be executing its planned drilling program to convert these exploration prospects into defined resources.
