Survey result is coming soon, page-6

""""Results are expected imminently and could unveil some very interesting geology"""

http://www.*.com.au/companies/news/...ed-up-fraser-range-nickel-explorer-58686.html

Legend Mining (ASX:LEG) held over $12 million in cash and listed shares as at 30th September, and has another $11.5 million on its way from the sale of its Ngovayang project.
This soon to be $23 million compares to its market cap of just $16 million, and will allow a comprehensive, deep nickel drilling campaign with no dilution.
In August, the company commenced a major moving loop electromagnetic survey over its Fraser Range Project in Western Australia.
Due to its unique location, the project is considered prospective for not only Nova Style nickel-copper, but also Tropicana Style gold mineralisation.
Adding to the intrigue is that Mark Creasy is the largest shareholder in LEG with around 25%. As is well known, Creasy has had some success previously in the Fraser Range with Sirius Resources (ASX:SIR).
Magnetic Survey
The MLEM survey is designed to test for possible conductors associated with seven priority targets previously identified through the interpretation of detailed aeromagnetic data.
These targets were selected on their magnetic character and are interpreted to relate to mafic/ultramafic intrusives.
Results are expected imminently and could unveil some very interesting geology.
Based on the results of these surveys, aircore drill testing of all conductors will be undertaken, subject to the necessary statutory clearances.
Fraser Range Footprint
LEG's ground cover a combined area of 409 square kilometres and are located 225 kilometres east of Kalgoorlie along the Trans Australian Railway, and 100 kilometres northeast of Sirius' Nova nickel copper massive sulphide deposit.
This is one of the larger Fraser Range tenement positions. It may be more than an underfunded explorer could explore thoroughly, but LEG has more than ample cash, and the direction of Mark Creasy to find the needles in the haystack.
Listed Assets
Few are aware that LEG holds around $1.5 million worth of Sirius Resources shares.
In addition to this, LEG has another $1.5 million worth of shares combined in Artemis Resources (ASX:ARV), Nemex Resources (ASX:NXR), Pilbara Minerals (ASXLS).
Managing director acquires shares
In November, managing director Mark Wilson increased his skin in the game and acquired further shares taking advantage of the cash infused valuation of the company.
Wilson bought 10 million shares at $0.008 for a consideration of $80,000 for the Chester Nominees WA Pty Ltd (MW Wilson Super Fund A/C). This boosts Wilson's holdings in LEG to 70 million shares and 55 million unlisted options.
Analysis
With magnetic survey results due soon, the market may be about to catch on to this under the radar but truly standout Fraser nickel player.
If results identify some large structural targets, anticipation will begin to build leading up to staged drilling campaigns.
These will be designed based on the magnetic survey results.
Aircore drilling followed by reverse circulation and diamond drilling could improve the probability of making the next major find in the Fraser Range.