Legend Mining has significantly expanded its Pinnacle Well Project, acquiring new tenements and identifying two high-priority gold anomalies, while winding back its Rockford joint venture holdings.
- Acquisition of two tenements and ROFR on seven more at Pinnacle Well
- Discovery of two new high-priority gold soil anomalies (Au5 and Au6)
- Commencement of low-impact geophysical surveys to refine drill targets
- Surrender of two Rockford JV tenements, ending the Ponton JVA 2019
- Strong cash position of $10.4 million with $568,000 exploration spend
Project Expansion and New Discoveries
Legend Mining Limited has taken a decisive step forward in its exploration strategy with a substantial expansion of its Pinnacle Well Project in Western Australia's Leonora district. During the December 2025 quarter, the company secured full ownership of two key tenements, E37/1235 and E37/1417, and obtained a Right of First Refusal over an additional seven tenements in the Linger and Die Goldfield area. This acquisition significantly broadens Legend's footprint in a region known for its rich gold and base metal deposits.
Building on this expanded landholding, Legend's recent soil sampling program, which incorporated both new and historical data, has identified two new high-priority gold anomalies, designated Au5 and Au6. These anomalies stand out due to their strong geochemical signatures, including elevated levels of gold and associated elements such as silver, bismuth, and cadmium. Notably, Au5 is supported by extensive quartz veining and historic rockchip samples with gold grades as high as 91.9 grams per tonne, underscoring its potential significance.
Advancing Exploration with Geophysical Surveys
To complement the soil sampling results, Legend has initiated low-impact geophysical surveys, including gradient array and pole-dipole induced polarisation methods, at key prospects such as Alpha North and Pyrophyllite Hill. These surveys aim to delineate subsurface structures and alteration zones that could host gold mineralisation, thereby refining drill targets for upcoming programs. The integration of geochemical anomalies with geophysical data and field mapping is expected to provide a robust framework for future drilling campaigns.
Rockford Project Rationalisation
In contrast to the expansion at Pinnacle Well, Legend has rationalised its holdings in the Fraser Range's Rockford Project. Following a comprehensive review of exploration data, the company decided to surrender its 70% interest in two tenements, E28/1716 and E28/1717, effectively ending the Ponton Joint Venture Agreement with Creasy Group. This move reflects a strategic focus on prioritising assets with the highest potential and reallocating resources accordingly.
Financial Position and Corporate Developments
Legend Mining closed the quarter with a healthy cash balance of $10.4 million, reflecting prudent financial management amid active exploration. The company reported $568,000 in exploration and evaluation expenditure for the quarter and anticipates receiving an $811,458 research and development tax refund. Importantly, no substantive mining production occurred during the period, consistent with the company's focus on exploration and project development.
Additionally, Legend formalised a Heritage Protection Agreement with the Watarra Aboriginal Corporation, representing the Darlot People, to ensure respectful and compliant engagement with traditional landowners as exploration activities progress.
Looking Ahead
With promising new anomalies identified and geophysical surveys underway, Legend Mining is positioning itself for a potentially transformative phase at Pinnacle Well. The company’s methodical approach to integrating geochemical and geophysical data sets the stage for targeted drilling that could unlock significant mineral resources. Meanwhile, the streamlined focus following the Rockford JV exit suggests a sharpened strategic direction. Investors and industry watchers will be keenly awaiting assay results and further exploration updates in the coming quarters.
Bottom Line?
Legend Mining’s expanded footprint and new gold targets at Pinnacle Well mark a pivotal moment, but the path to resource definition remains to be charted.
Questions in the middle?
- What are the expected timelines for drilling at the newly identified Au5 and Au6 anomalies?
- How will the surrender of Rockford JV tenements affect Legend’s long-term exploration strategy?
- What insights will the pending geochemical and geophysical survey results provide about mineralisation depth and continuity?