Legend Mining Advances Pinnacle Well with High-Priority Geophysical Targets and July Drilling Plans

Chargeable-Resistive Features Boost Gold Prospectivity at Pinnacle Well

Legend Mining Limited (ASX:LEG) has sharpened its exploration focus at the Pinnacle Well Project in Western Australia, unveiling high-priority geophysical anomalies at both the Alpha North and Pyrophyllite Hill prospects. The recent induced polarisation (IP) surveys identified coincident chargeable and resistive features interpreted as sulphide mineralisation at depth, key indicators that have elevated the project's gold potential ahead of planned drilling.

At Alpha North, a 700-metre strike length of coincident chargeability and resistivity anomalies aligns with anomalous geochemistry, extensive auriferous quartz veining, historic gold workings, and significant regional shearing. These factors collectively suggest a robust structural control on mineralisation within the hornblende granodiorite host rock. Rockchip sampling from December 2025, combined with historical data, revealed multiple gold assays exceeding 1 g/t and historic samples as high as 91.9 g/t Au, underscoring the prospect’s potential.

Pyrophyllite Hill’s Structural Setting Enhances Exploration Appeal

Pyrophyllite Hill’s geophysical data complements Alpha North’s findings with a ~600-metre NW-SE trending chargeable-resistive feature interpreted as disseminated sulphides associated with silica alteration and quartz veining. This feature sits within an extensive hydrothermal pyrophyllite alteration zone and coincides with the Pyr1 ultra-fine fraction soil anomaly, which carries a distinct hydrothermal signature of silver, cadmium, mercury, antimony, and arsenic. The alignment with regional NW-SE structural corridors, including the Keith-Kilkenny Fault, adds geological weight to the prospect’s significance.

Legend’s ongoing efforts to ground-truth these geophysical signatures through reconnaissance mapping and sampling are set to refine drill targets. The company has already initiated heritage survey notifications with the Watarra Aboriginal Corporation, a necessary step before drilling can commence.

Drilling Approval and Financial Position Support Upcoming Campaign

The drill approval process for both Alpha North and Pyrophyllite Hill is underway, with Legend targeting a July 2026 commencement. This timeline follows a productive quarter where exploration expenditure reached $676,000, focused exclusively on advancing these prospects. Notably, the company’s cash reserves remain strong at $10.2 million, bolstered by an $811,000 research and development tax refund received in February 2026, which enhances its financial flexibility for upcoming work.

Meanwhile, the Rockford Project in the Fraser Range district saw limited activity, restricted to statutory rehabilitation and ongoing heritage and land access negotiations with the Creasy Group JV partner.

These developments build on earlier work that expanded the Pyrophyllite Hill geophysical target, as detailed in Legend’s March update, which highlighted the 600-metre strike length of the chargeable-resistive feature and its promising structural context chargeable-resistive feature extended. The current quarterly report consolidates these findings and sets the stage for the critical test of drilling to validate the geophysical and geochemical signatures.

Exploration Potential Remains Conceptual with Drilling Pending

While the geophysical and geochemical data present an encouraging picture, Legend cautions that exploration potential remains conceptual. No mineral resource has yet been defined at Pinnacle Well, and the upcoming drill programs will be pivotal in determining the presence and extent of economically viable mineralisation. Forward-looking statements within the report underscore the inherent uncertainties and risks associated with exploration outcomes.