Projects

Pitiangoma

PITIANGOMA PROJECT
COMMODITY
  • Gold
  • OWNERSHIP
  • 100%
  • LOCATION
  • South Mali, Africa
  • 15 km south of Resolute Mining's Tabakoroni 610,000 oz gold deposit
  • PERMIT AREA
  • 106 sq. km - Pitiangoma Est permit
  • STAGE
  • Early stage exploration
  • MINERALIZATION
  • Mineralization straddles productive Syama Shear Zone for > 10 km
  • Highlights

    • Acquired the Pitiangoma project from Endeavour Mining
    • Work prior to acquisition included regolith and lithological mapping, airborne VTEM survey, BLEG stream geochemistry, 6,930 soil samples, 1,230 auger samples , 2,160 m RRC drilling and 6,450 m diamond drilling
    • In 2013 reviewed historical data and developed a new exploration strategy
    • In May 2015 Legend entered into an agreement with Resolute Mining Ltd. to form a joint venture company ("JVCo") for the Pitangoma Est property and to grant Resolute an option to earn a 70% interest in JVCo by spending US$3,000,000 over four years, of which US$500,000 is a firm commitment. Legend will not be required to fund its 30% share of any expenditures by JVCo until Resolute earns its 70% interest in JVCo and has delivered a feasibility study
    • In 2016 Resolute completed a 110-hole (4,869 meter) air core drill program on the license which defined an anomalous mineralized envelope approximately 200 meters wide by 3 kilometers long that coincides with low resistivity and IP anomalies and shear zones interpreted from VTEM data. The results are sufficiently encouraging that Resolute continues exploration on the license.