https://au.news.yahoo.com/thewest/w...es-new-techniques-in-search-for-nickel/#page1
Legend Mining, in which millionaire prospector Mark Creasy holds a 28 per cent stake, is using cutting-edge exploration techniques in the Fraser Range in its hunt for a greenfields discovery.
Contractors DDH1 Drilling were packing up yesterday after completing two diamond holes at Legend’s Rockford project near the Trans-Australian Railway.
The holes were planned to 600m and 400m deep respectively, with a down-hole electromagnetic survey also completed to test three priority conductors.
Legend managing director Mark Wilson described the market as an “impatient beast” but expected to make an initial announcement on the drilling results next week.
“We only need to get a sniff of nickel and we would be off to the races,” he said.
Mr Wilson said cold and wet weather had made the latest campaign a “logistical nightmare” to resupply contractors with essentials, including food and water.
But he remained bullish as ever about a new discovery, revealing Legend has employed contractors HighPower EM Geophysical Services to complete fixed-loop and moving-loop electromagnetic surveys.
The new and innovative technique involves placing wire loops on the ground and sending high-powered current through the wire, then measuring the response to see if there are any conductors, ideally rich deposits of nickel or copper.
Mr Wilson said the surveys can penetrate as much as 600m below the surface.
It also qualifies the company for the Federal Government’s research and development tax rebate, which returns 45 cents on every dollar spent.
It means $900,000 of Legend’s annual $2 million exploration budget is likely to be returned, leading to further exploration in the remote region on the edge of the Nullarbor.
The Fraser Range became one of Australia’s hottest exploration destinations after the Nova nickel-copper discovery in mid-2012 sparked a modern-day rush, but has turned into a graveyard for junior explorers.
Meanwhile, fellow Fraser Range explorer Segue Resources cannot explain a sudden rise in its shares.
Segue surged 108.33 per cent in five sessions on higher trading volumes to a 12-month high of 0.5 cents at Wednesday’s close.
In response to a please explain from the ASX, Segue managing director Steven Michael noted the company’s July 7 announcement that it would begin a 58-hole, 3800m aircore drilling program at its Plumridge gold project.
Another possible explanation, he said, was that Segue’s joint-venture partner MMG began a detailed moving-loop electromagnetic survey at the Plumridge nickel project last month.
The survey is testing an initial 10 target areas and is expected to be completed this month.
