LEGEND RESOURCES INC. TARGETS MEXICAN COPPER-GOLD PROPERTY
legendresources.com
legendresources.com
Legend Resources Inc. ("Legend"), NASD-BB: LGDR is pleased to announce targets for exploration activities on the El Magistral Copper-Gold Property located in Sinaloa State, Mexico. Legend recently entered into a Letter of Intent with Treminco Resources Ltd. ("Treminco") TSE: TMO, whereby Legend may acquire a 100% interest in Minera Treminco de Mexico S.A. de C.V., a Mexican Corporation, whose principal asset is the El Magistral Property.
The eight square kilometer El Magistral Property is located 140km northeast of Mazatlan, Mexico. Limited exploration of the El Magistral Property to date confirms the presence of a copper-gold porphyry system associated with multiple high-grade hydrothermal horizontal and vertical breccias. This geological environment is similar to that of the porphyry copper districts of Cananea (Sonora State, Mexico) and Bisbee (Arizona State, U.S.A.) with the potential to host large (+100 million tonnes) low grade (+0.5%) copper deposits as well as smaller (+10 million tonnes) high grade (+1%) copper deposits associated with breccias.
Previous trenching and reverse circulation drilling on a small portion of the El Magistral Property has confirmed the property's potential to host economic copper deposits as well as the potential for gold and silver deposits. Highlights from previous trenching and drilling include 120 metres grading 1.05-% copper and 12 metres grading 1.18-% copper and 30 opt silver respectively. Exploration work carried out in 1997 identified three new porphyry targets with surface samples up to 2.9-% copper and 186 opt silver. These targets remain untested and will be the focus of continued exploration by Legend.
High Priority Targets:
Canizales Target
Mineralized breccia (60 metres by 18 metres) hosted within a diorite intrusive. Hydrothermal alteration typified by strong argillization with lesser amounts of quartz-sericite, chlorite and tourmaline. Mineralization includes chalcopyrite and tetrahedrite with trench assays averaging 1.05-% copper over 20 metres including 14 metres of 1.41-% copper and 8 metres of 1.83-% copper.
La Vainilla Target
The La Vainilla breccia is formed near the juncture of two major structures, which also host the Canizales Target. Sampling returned up to 2.4-% copper and 48 grams per tonne silver.
Higuera Target
Historic Silver Mining site with mineralization hosted in a granodiorite stock. Rock sampling returned 106 grams per tonne silver from the intrusive.
El Magistral East Target
The largest and highest tenure copper anomaly on the property. The total anomalous area is 1,100 metres by 800 metres including a 420 metre by 270 metre copper anomaly in the 1,000 to 15,000 parts per million range. A strong induced polarization anomaly is coincident to the copper anomaly and may represent copper mineralization at depth.
The company is currently designing a detailed program, which will further explore these highly prospective targets.
Further information will be released as it is received.
ON BEHALF OF THE BOARD OF DIRECTORS
(SIGNED)
______________________________
Thomas Breitinger
President, Director
Corporate Information
Management
Thomas Breitinger has been the President and sole Director of Legend Resources Inc. since its inception. In 1995, Mr. Breitinger founded DSV Canadian Holdings Inc. of Vancouver, British Columbia and has since been President and CEO.
In 1992, Mr. Breitinger founded DSV Vermoegensverwaltung GmbH, a mid-size portfolio management company in Germany where he was the Senior Portfolio Manager and Sales Director from 1992 to 1996.
Nicole Lobban has been the secretary of the Company since its inception. From 1997-1998, Ms. Lobban was an Executive Assistant for Next Millennium Management Ltd., located in Vancouver, British Columbia, Canada. In 1996, Ms. Lobban was an administrative assistant for three public resource companies at The Hemisphere Group in Vancouver, British Columbia. From 1994 to 1996, Ms. Lobban was in retail management with the Aldo Group, also in Vancouver. From 1993 to 1994, Ms. Lobban was a realtor's assistant with Remax Realty Ltd. in Surrey, British Columbia, Canada.
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Trading Symbol: LGDR NASD-BB
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5,350,000
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