Developing phosphate interests in the Georgina Basin, Queensland, Australia
A New Player in the Fertilizer Industry
- Legend: Developing its phosphate interests in the Georgina Basin, Queensland, Australia
- Wengfu (Group) Ltd feasibility study on track for completion this quarter.
- Paradise South (Lady Annie) Australian JORC code compliant Inferred Mineral Resource estimate completed with an approximate 80% increase in tonnage when compared to historical results.
- Legend signs Memorandum of Understanding (MoU) with Xstrata regarding supply of sulphuric acid to a phosphoric acid plant in Mt Isa.
- Legend and Coogee Chemicals Ltd signs MoU to develop a Joint Venture for the production of sulphuric acid, phosphoric acid storage and sulphuric acid storage for the phosphoric acid plant.
- Legend signs landmark agreements with the Traditional Aboriginal Owners for Paradise North and D-Tree mining leases.
- Major shareholders include: Renika Pty Ltd. 21.5% Attara Capital 13.5%, Soros Funds Management 10.4% & IFFCO 15%
- Legend is led by Joseph Gutnick, a prominent Australian mining industry entrepreneur, who has overseen some of Australia's largest and most prestigious resource discoveries.
QLD Phosphate Project
The Georgina and McArthur Basins host to Legend's phosphate projects, are amongst the largest undeveloped phosphate deposits in the world. Legend has historically defined phosphate deposits of more than 1 billion tonnes at 16% P2O5.
Past feasibility studies, conducted by BH South Ltd (later acquired by WMC then BHP), at the Paradise deposit (previously known as Lady Annie project) in 1974 demonstrated that the project was technically and economically feasible.
In 1973 a pilot plant was built at Paradise produced international quality phosphate rock. The pilot plant operated for 1 year at 100 tonne/day, producing high quality beneficiated phosphate rock averaging 34% P2O5.
In conjunction with GHD, Legend is currently replicating the feasibility study conducted in 1974 using current economic parameters.
Legend is developing a 5 million tonne/year phosphate rock mine; on site beneficiation plant; and Road/Rail transport options to the Port of Townsville.
Northern Territory Projects
Legend holds 4.7 million acres of landholdings in the Northern Territory, Australia with strong exploration potential for phosphate, base metals and diamonds. Legend's Northern Territory exploration projects include Selby; McArthur River; Abner Range; Glyde; Foelsche; and Cox.
The Selby project is located 100km SW of the coast of the Gulf of Carpentaria in the McArthur Basin, adjacent to the Georgina Basin which hosts Legend's Queensland phosphates. Historically recorded phosphate rock outcrops at surface in recurrent lenses over a 60 kilometre strike. Uranium, which is a common by-product of marine phosphate deposits, accounting for a significant proportion of the world's Uranium production, is also present.
Legend's base metal project is situated approximately 20 kilometres south west of Borroloola. The Emu fault zone which runs through Legend's tenements is a mineralised geological feature hosting the HYC Pyritic Shale base metal prospect and a number of known base metal deposits accounting for 8% of world base metal (lead-zinc-silver) production.
The Abner Range Plateau is approximately 300 kilometers south of Borroloola, west of The Gulf of Carpentaria in the Northern Territory. It is host to the diamondiferous Abner Range Kimberlite part of the Merlin diamondiferous intrusive field, only seven kilometres north of Legend's holdings. Past indicator mineral sampling by Ashton and Rio Tinto has recovered macrodiamonds, microdiamonds and chromite indicator minerals with no primary source yet determined.
The Glyde River is in the Batten Trough and hosts 40 kilometres of alluvial gravels sourced from numerous diamond bearing catchments including the entire Merlin diamond field. The pipes in the Merlin field are located on the eastern shoulder of the Battern Trough only six kilometres east of the Emu Fault. They have intruded the Cambrian Bukalara sandstone and were emplaced around the time of the Alice Springs Orogeny.
Legend's Foelsche Project tenements lie east of the Glyde Project and Merlin diamond field. They are bound by regional scale faults which act as fluid conduits for mineralisation and have uplifted basement rocks up to lie against younger sandstones. The area contains historical trains of kimberlite indicator minerals in streams draining the area.
The Cox Project is located about 150km west of theMerlin diamond field. Historical Open File Research has indicated that there are two key areas of concentration of diamonds and indicator minerals, one within EL 22297. Previous work by Ashton involved bulk sampling and grid loaming in order to locate a source. The grid sampling was carried out at 500m spacing in some areas, and 1km in others. Chromites and micro diamonds are distributed along a parallel north trending structures in the northern areas of the tenements.